Hedera (HBAR), the native cryptocurrency of the Hedera Hashgraph network, has stunned the crypto world with a sharp jump of 15% in just 24 hours, reaching the $0.20 mark. The sudden surge has reignited investor excitement and posted one of the biggest winners of the moment.
With growing institutional stakes, do traders believe more 50% to 60% gains are coming for HBAR’s token?
Here’s why HBAR’s price increases
This is the main reason why the HBAR token price is rising today while other cryptocurrencies are struggling to rise.
Launch of the first HBAR ETF
The main driver behind the HBAR meeting is the launch of the Canary HBAR ETF on Nasdaq. This is the first-ever exchange-traded fund to offer direct exposure to HBAR, allowing large investors to purchase the token in a regulated and secure manner.
The fund holds real HBAR tokens in custody with BitGo and Coinbase Custody, providing certainty for institutions concerned with compliance and security.
Expansion in Stablecoin utility
To create even more momentum, the Hedera Foundation announced that USDC, one of the largest stablecoins, is now available on Bybit. This expansion improves liquidity and trading capabilities within the Hedera ecosystem, strengthening HBAR’s position in stablecoin-powered payments and DeFi activities.
Major network upgrades and partnerships
Hedera recently rolled out major network upgrades aimed at improving speed, scalability and transaction efficiency. In addition, several new DeFi and NFT integrations have expanded the ecosystem.
Strategic partnerships and ongoing developer initiatives have also increased attention to HBAR’s real-world applications, further driving investor sentiment.
HBAR Price Outlook
The listing of the HBAR ETF marks a new era for Hedera, as increased interest on Wall Street could further increase its price and profile while validating the project’s long-term potential.
Several at the same time pseudonymous crypto traders believe HBAR is on the verge of a major price breakout. Based on current chart patterns, they predict that a 50-60% price increase could follow soon.
The accompanying chart shows a clear bullish setup, indicating that HBAR may be preparing for a sharp upward move as momentum continues to build.
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