HBAR ETF Filing Sparks Crypto Frenzy: What You Need to Know NOW!

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Hedera, that little governance coin with big dreams, was strutting around like it owned the place. HBAR, priced at a humble $0.21, had the audacity to flaunt a 24-hour volatility of 2.1% and a market cap of $8.92 billion. Not bad for a coin that’s just trying to democratize Web3 and digital assets, huh? 🤑

Meanwhile, Bitcoin, the old guard, was lounging at $94,061, with a market cap of $1.86 trillion. But let’s be honest, Bitcoin’s been around the block a few times. It’s like the grandpa of crypto, telling stories about the good old days when it was worth a few bucks. 🧓

But back to Hedera. The altcoin, with a fully diluted valuation of about $11.2 billion, saw a 144 percent surge in its 24-hour average trading volume to about $388 million. That’s like going from a lemonade stand to a Fortune 500 company in a day. 🚀

And why the sudden surge? Well, Nasdaq decided to file Form 19b-4 with the US SEC to list and trade shares of Canary Capital’s Canary HBAR ETF. This move increased the odds of the US SEC approving the Canary HBAR ETF, giving institutional investors a chance to jump on the Hedera bandwagon. 🎢

HUGE NEWS! 👀🔥

CANARY JUST FILED FOR AN $HBAR ETF WITH NASDAQ.

— Marc In The Matrix⚡️🧠 (@MarcShawnBrown) February 24, 2025

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. 🚨

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. 🏢

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2025-02-24 19:02