NEAR Protocol made confidential deposits the default for perpetual futures opened through its trading interfaces on September 17, routing funds through a private shard using Confidential Intents and a trusted execution environment bridge. The system separates a trader’s public account from trading activity and hides ownership and deposit origins, while positions remain visible on Hyperliquid’s order book. The integration, launched June 9, supports more than 50 markets, deposits from over 35 blockchains and leverage of up to 40x, with NEAR Intents converting deposits to USDC. NEAR rose 25% over the day to about $3.60 on September 18, its highest level since the start of 2025, after the broader crypto-market rebound and the perpetuals update. Michaël van de Poppe maintained a $5 target but said the token could be nearing a short-term peak, while other observers identified sell walls through $4.80 and a possible entry level near $3.20. NEAR’s Relative Strength Index reached 82, an overbought reading often associated with pullback risk, while recent exchange inflows exceeded outflows, indicating increased potential near-term selling pressure.