Hedera Price Surges as Nasdaq Files for HBAR ETF Approval
Hedera (HBAR) has experienced significant momentum with a 144% increase in 24-hour trading volume, reaching approximately $388 million. The price rose by 6.9% to about 22 cents amid indications of a bullish recovery in Bitcoin.
Key Drivers for HBAR's Price Increase
- Nasdaq filed Form 19b-4 with the US SEC to list and trade shares of Canary Capital's HBAR ETF, enhancing approval prospects.
- The US SEC has enacted changes under Donald Trump's administration to facilitate digital asset adoption.
Midterm Expectations for HBAR
- HBAR shows signs of a macro bull rally following Trump's re-election.
- Support established above 20 cents; potential rebound towards 39 cents indicates a 70% rally.
- Bearish sentiment if consistently below 20 cents in the short term.
Fundamental Outlook
- Hedera’s DeFi ecosystem exceeds $115 million, with over $32 million in stablecoin market cap.
- Notable platforms include Stader, SaucerSwap DEX, and Bonzo Finance.
- Asset Tokenization Studio has facilitated over $50 million in tokenized assets, involving institutions like RedSwan and Circle's USDC.