NEAR Protocol Launches Confidential Payments for Cross-Chain Transfers

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 2 days ago

ETH-0.72%

SUI-3.664%

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Confidential Payments Live: NEAR Protocol has launched its confidential payments feature, allowing users to transfer assets across chains without revealing the full sender path, enhancing privacy for salary, grant, and business payments.
User Experience Enhancement: By streamlining the payment process, users can perform direct cross-chain transfers, avoiding the cumbersome steps of traditional bridging, which is expected to attract more users to the platform.
Positive Market Reaction: NEAR's market performance has been strong, currently trading at approximately $2.24, up 27% in 24 hours and 47% over seven days, reflecting strong market interest in its privacy and cross-chain solutions.
Early User Incentives: Early users testing the feature within the first 24 hours will receive community perks, aimed at driving adoption and assessing transaction demand and user experience quality.

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Technical Analysis for ETH

Technical Sentiment Analysis for Ethereum (ETH). As of , Ethereum (ETH) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for ETH stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, ETH is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Ethereum (ETH) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	1787.989	1898.645	2010.199	2120.855	2232.409	2343.065	2454.619
Fibonacci	1898.645	1983.529	2035.97	2120.855	2205.739	2258.18	2343.065

About ETH

Ethereum is a decentralized open-source blockchain system that features its own cryptocurrency, Ether. ETH works as a platform for numerous other cryptocurrencies, as well as for the execution of decentralized smart contracts.Ethereum was first described in a 2013 whitepaper by Vitalik Buterin. Buterin, along with other co-founders, secured funding for the project in an online public crowd sale in the summer of 2014. The project team managed to raise $18.3 million in Bitcoin, and Ethereum’s price in the Initial Coin Offering (ICO) was $0.311, with over 60 million Ether sold. Taking Ethereum’s price now, this puts the return on investment (ROI) at an annualized rate of over 270%, essentially almost quadrupling your investment every year since the summer of 2014.The Ethereum Foundation officially launched the blockchain on July 30, 2015, under the prototype codenamed “Frontier.” Since then, there has been several network updates — “Constantinople” on Feb. 28, 2019, “Istanbul” on Dec. 8, 2019, “Muir Glacier” on Jan. 2, 2020, “Berlin” on April 14, 2021, and most recently on Aug. 5, 2021, the “London” hard fork.Ethereum’s own purported goal is to become a global platform for decentralized applications, allowing users from all over the world to write and run software that is resistant to censorship, downtime and fraud.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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