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HBAR Gains Momentum as Nasdaq Pushes for Spot HBAR ETF Approval
The cryptocurrency market has witnessed a remarkable surge in the price of Hedera (HBAR) following the recent announcement by Nasdaq that they have filed for a spot HBAR ETF approval. This move is expected to open doors for institutional investors to gain exposure to the platform, potentially catalyzing a significant increase in trading volume and market value.
According to recent data, HBAR’s price has jumped 6.9% over the past 24 hours, reaching $0.22, while its daily trading volume saw a massive 144% jump to $388 million. This unprecedented growth has sparked increased interest from investors, who are now closely monitoring the token’s performance.
Nasdaq’s decision to file for an ETF approval is expected to significantly boost investor confidence and increase liquidity in the market. Institutional investors will be able to easily buy or sell HBAR like traditional stocks, further fueling its price rise.
The fundamentals supporting this growth are multifaceted. Firstly, regulatory changes implemented by Donald Trump have fostered a more favorable environment for blockchain adoption across the United States, creating an opportunity for projects like Hedera to flourish.
From a technical perspective, HBAR has been forming a bullish continuation pattern for several months, with a strong support level above $0.20 serving as a stable foundation for potential gains. Furthermore, the Relative Strength Index is displaying bullish divergence, signaling a possible rally ahead. This combination of factors creates a compelling argument for a price increase, potentially reaching $0.39 and marking a 70% rise from current levels.
The growing DeFi ecosystem surrounding Hedera has also contributed to the token’s upward momentum. The platform’s Asset Tokenization Studio has enabled over $50 million in tokenized assets, attracting notable institutions like RedSwan (real estate), Diamond Standard, Circle’s USDC, Zoniqx, and Tokinvest. This growth is expected to continue as more investors seek exposure to decentralized finance.
In addition to the HBAR’s rising price, the platform itself has shown remarkable resilience. The Hedera network holds a significant presence in the DeFi sector, boasting over $115 million in total value locked (TVL) and supporting a stablecoin market cap of $32 million. These metrics are expected to contribute to the token’s long-term growth prospects.
As the market continues to monitor the progress of Nasdaq’s ETF filing, investors should closely follow HBAR’s performance.
