Hedera’s native cryptocurrency HBAR has gained 35% in the past 24 hours, bringing its market cap to $4.25 billion and securing a spot in the top 30 cryptocurrencies.
HBAR HBAR $0.19 24h volatility: 3.3% Market cap: $8.17 B Vol. 24h: $327.84 M , the native cryptocurrency of the Hedera Hashgraph blockchain popular for its decentralized applications (dApps), has staged another 35% gains in the last 24 hours. As of press time, the Hedera price is trading at $0.1125 with a market cap of $4.25 billion, thereby entering the list of top 30 cryptocurrencies.
With this, HBAR price has extended its weekly gains by 100% adding over $2 billion just in a week’s time. The altcoin has gained massive prominence recently as Canary Capital filed for a spot HBAR ETF last week.
This comes as crypto market players expect an improved regulatory environment under the Donald Trump administration. The filing of a spot ETF for Hedera increases investor interest in the altcoin in anticipation of greater liquidity in the future.
The good this about the recent Hedera price rally is that it happened with a 115% surge in the daily trading volumes, thus crossing $1.51 billion. In a single day, more than $1 billion worth of HBAR has been purchased.
Hedera’s (HBAR) price action is currently testing key resistance levels that must turn into support for further upward momentum. The next critical resistance is at $0.1331, followed by $0.1372, with no significant resistance until reaching $0.1562. If these levels are breached, a substantial price spike could be on the horizon.
Renowned crypto analyst Captain Faibik has highlighted that Hedera’s ($HBAR) price is currently breaking out of a symmetrical triangle pattern on the weekly timeframe chart. This technical signal suggests strong bullish potential, with Faibik setting a long-term target of $1 for $HBAR.
$HBAR is breaking out of Symmetrical Triangle on the Weekly timeframe Chart..!!
Long term Target : 1.00$#Crypto #HBAR #HBARUSDT pic.twitter.com/bTeJI0KgA8
— Captain Faibik 🐺 (@CryptoFaibik) November 18, 2024
Hedera Board Member Can Be the Next US SEC Chair
Brian Brooks, a board member of Hedera Hashgraph is reported to be considered as a potential candidate for the chair of the US Securities and Exchange Commission (SEC). This will be big news for the HBAR community as well as the overall crypto community as Brooks understands the crypto industry very closely.
Brooks, who previously served as the CEO of Binance US, was nominated twice by President Donald Trump for a five-year term as Comptroller of the Currency during both the 116th and 117th Congress.
As President Trump continues to shape his cabinet, Brooks is seen as a leading contender for the SEC chairmanship, with many viewing him as a key figure in strengthening the regulatory landscape for digital assets.
next