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Hedera (HBAR) Price: Approaches All-Time High Following Coinbase Prime Integration
The price of Hedera’s native token HBAR has surged 38% weekly to reach a new high of $0.3988, fueled by the recent integration with Coinbase Prime and growing market sentiment surrounding its potential inclusion in strategic reserves.
Coinbase Prime’s announcement to include HBAR custody services marks a significant milestone for institutional investors seeking secure storage solutions for their Hedera holdings. This development has bolstered investor confidence, leading to an influx of new buyers entering the market.
The token’s price chart reveals a remarkable 12% daily increase and a staggering 38% weekly gain, with trading volume reaching $2.72 billion in just 24 hours. This surge is indicative of a sustained upward trend fueled by increased participation from various market segments.
Technical analysis suggests the potential for HBAR to break past its previous all-time high of $0.4323, as it has successfully breached key Fibonacci levels. The token’s ability to maintain its position above critical moving averages reinforces its underlying buying pressure.
In addition to institutional investment opportunities offered by Coinbase Prime, market sentiment has been further boosted by recent statements from former US President Donald Trump regarding the potential inclusion of various altcoins in national reserves.
Trump’s comments have contributed to a broader positive outlook on cryptocurrencies, with many anticipating increased adoption and regulation across the industry. This shift is reflected in HBAR’s price action, as it continues to test resistance levels while approaching its previous all-time high.
In conclusion, the token’s recent price surge can be attributed to a combination of factors, including Coinbase Prime’s integration and growing market sentiment surrounding its potential inclusion in strategic reserves.
Source: blockonomi.com
