NEAR Intents has moved $32.1 billion in cumulative trading volume, as per
@tokenterminal data.
As per Token Terminal The week of September 14 came in at $1.047 billion, the strongest weekly figure since weekly volume first crossed the billion-dollar mark in early October 2025.
The mechanism is intents-based execution paired with confidential settlement.
Onchain transparency was marketed for years as a trust primitive. For institutional flow, it's the opposite: it broadcasts strategy to every market participant watching the mempool.
Traditional venues solved this with dark pools and OTC desks. NEAR's bet is that this becomes table stakes for any chain trying to hold serious trading volume, the same way MEV protection went from nice-to-have to baseline expectation.
As per
@NEARProtocol own data, confidential Intents TVL crossed public TVL on September 21 for the first time: $113.2 million confidential versus $110.3 million public, out of $223.6 million total.
near:native is also stacking distribution on top of the base rail. NEAR now lets users buy tokenized US stocks and ETFs, NVDA, TSLA, AAPL and other megacaps, plus QQQ, funded with stablecoins or any supported crypto from 30+ chains, with no brokerage account.
The tokens are
@Ondo total return tracker structure, meaning holders get price exposure and reinvested dividends net of withholding tax, fractionalized so a single dollar buys a slice of NVDA.
Trades route through the same confidential execution layer, so equity positions carry the same privacy the crypto-native product already has.
Hyperliquid-powered confidential perps are now live on the same account too, funded from any chain the user already holds assets on, no broker, no bridge, no second account.
That's three products, tokenized equities, spot intents, and perps, sitting on one confidential settlement layer, funded from one deposit.
Bunt's POV
NEAR is now underwriting a lot of surface area at once: regulated-adjacent equity exposure, perps, and cross-chain funding, all routed through NEAR infrastructure. The fee re-acceleration into August suggests genuine demand rather than incentive-driven volume. Whether NEAR becomes the default account for confidential onchain trading that institutions choose is the open question.