UPDATE: NEAR protocol enables private perps by default, hiding position ownership, powered by Hyperliquid.

What happened

The NEAR protocol has turned on private perpetual futures, which are trading contracts without an expiry date, by default. This change hides who owns these positions and is powered by Hyperliquid.

Confirmed

Global impact / market context

Private perps mean traders can buy or sell assets without others seeing their bets. This may attract bigger investors who want privacy, potentially increasing trading volume on NEAR and making the network more valuable through higher activity.

Analyst inference

Privacy features are becoming important in crypto trading as some investors worry about others copying their moves. By offering this by default, NEAR may stand out against other networks that show positions publicly, which could shift where traders choose to operate.

Analyst inference

What to watch

1. Check whether NEAR officially announces this feature in its own channels, as the update comes from a social media post. Confirmation would clarify the exact default settings. Confirmed
2. Watch whether trading activity on NEAR increases after this change. More private trades could lead to higher fees earned by the network, but this is a suggestion, not a guarantee. Proposed
3. Observe if other protocols copy NEAR by adding private perps. Competition could push more networks to offer hidden positions, changing how transparent crypto trading becomes. Analyst inference

Affected assets

• NEAR — NEAR Protocol

Evidence

• x.com