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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.
Key Notes
The HBAR price rally has been bolstered by a 100% weekly gain, driven by strong investor interest and a $1.5 billion daily trading volume.The recent filing for a spot HBAR ETF by Canary Capital has increased investor optimism about Hedera’s future.Brian Brooks, a board member of Hedera is a leading candidate for the role of SEC Chairman under the Trump administration.HBAR HBAR $0.12 24h volatility: 39.1% Market cap: $4.60 B Vol. 24h: $1.86 B , 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.
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.
Hedera (HBAR) News, Altcoin News, Cryptocurrency News, News
Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
