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Key Notes
- Canary Capital's HBAR ETF filing by Nasdaq drives price rally, offering institutional investors seamless entry into the Hedera ecosystem.
- HBAR establishes strong support at 20 cents with a bullish continuation pattern suggesting potential 70% rally toward 39 cents.
- Hedera's growing DeFi ecosystem hosts $115M TVL and $32M in stablecoins, with a robust real-world asset tokenization platform exceeding $50M.
Hedera HBAR $0.16 24h volatility: 6.3% Market cap: $6.89 B Vol. 24h: $155.55 M , a governance coin for a top-tier layer one blockchain focused on the democratization of Web3 products and digital assets, has signaled a shift in momentum in the near future. The large-cap altcoin, with a fully diluted valuation of about $11.2 billion, registered a 144 percent surge in its 24-hour average trading volume to about $388 million.
As Bitcoin BTC $82 207 24h volatility: 1.0% Market cap: $1.63 T Vol. 24h: $17.72 B price signaled a potential bullish recovery to follow in the footsteps of Gold, HBAR’s price surged around 6.9 percent in the last 24 hours to trade about 22 cents on Monday, February 24, during the mid-New York session.
Top Reasons Why Hedera Price Gained Today
The main reason why Hedera’s price rallied in the past 24 hours was due to the announcement that Nasdaq filed Form 19b-4 with the US SEC to list and trade shares of Canary Capital’s Canary HBAR ETF. The filing increased the odds of the US SEC approving the Canary HBAR ETF, which will offer institutional investors a chance to invest in Hedera seamlessly.
Furthermore, the US SEC under Donald Trump’s administration has made several changes to ensure a seamless adoption of digital assets and blockchain technology in the United States.
HUGE NEWS! 👀🔥
CANARY JUST FILED FOR AN $HBAR ETF WITH NASDAQ. pic.twitter.com/Oa9zFkg8FR
— Marc In The Matrix⚡️🧠 (@MarcShawnBrown) February 24, 2025
Midterm Expectations for HBAR
After a notable bullish breakout following the re-election of US President Donald Trump late last year, HBAR price signaled the onset of a macro bull rally ahead. From a technical analysis standpoint, HBAR price has been forming a bullish continuation pattern in the past three months.
In the daily time frame, HBAR price has established a support level above 20 cents, which could be a basis for a market rebound ahead. Furthermore, the daily Relative Strength Index (RSI) has been forming a bullish divergence, coupled with a possible double bottom.
In case of a bullish recovery, HBAR price will rebound towards 39 cents, which will reciprocate to a 70 percent rally.
However, the short-term bullish sentiment for Hedera price will be invalidated if the altcoin consistently closes below the support level of around 20 cents in the coming days.
Fundamental Outlook
The Hedera network has grown into a vibrant DeFi ecosystem with over $115 million and over $32 million in stablecoins market cap. Some of the top-tier DeFi platforms on the Hedera ecosystem include Stader liquid staking, SaucerSwap DEX, and Bonzo Finance lending platform, among others.
The Hedera network has also developed a robust tokenization platform for real-world assets (RWA) through the Asset Tokenization Studio, which has facilitated over $50 million in tokenized assets. Some of the institutions tokenizing on the Hedera network include RedSwan for real estate, Diamond Standard, Circle’s USDC, Zoniqx, and Tokinvest marketplace, among many others.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
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Marco T. Lanz
