In a world where the unexpected often becomes the norm, the Hedera Hashgraph token (HBAR) has decided to join the party, crossing an important resistance level after the launch of the first staking exchange-traded fund. 🎉
HBAR, with a flair for the dramatic, leaped to a high of $0.2500, its highest level since March 7, a staggering 100% increase from its lowest point in June. This meteoric rise was, of course, fueled by the ongoing crypto bull run, a phenomenon that seems to have as many twists and turns as a Russian novel.
Another catalyst for this surge was the announcement from Valour Finance, a company known for its impeccable timing and impeccable taste in crypto products. They announced the launch of the Valour Hedera Physical Staking exchange-traded product on the SIX Swiss Exchange. Johanna Belitz, the Head of Nordics at Valour, couldn’t help but express her enthusiasm:
“Switzerland, a land where the mountains are as majestic as the regulatory frameworks, is one of the most forward-looking markets for regulated crypto products. We’re proud to offer investors here access to yield-bearing protocols like HBAR and ICP in a simple and compliant format. It’s like giving them a Swiss Army knife, but for crypto.”
The new listing will give investors, mostly in Switzerland, access to HBAR and its staking rewards. However, it’s worth noting that HBAR tokens have a relatively small yield of 0.03%, a figure that might make other popular tokens like Solana (SOL) and Avalanche (AVAX) smirk with a 0.03% yield. 🙃
The listing comes as Wall Street investors, ever the optimists, await a potential HBAR ETF approval by the Securities and Exchange Commission. An approval would open the floodgates to American investors, who have shown a voracious appetite for crypto ETFs. For instance, spot Bitcoin ETFs have attracted over $53 billion in inflows, while Ethereum ETFs have added over $6.4 billion. It’s a veritable feast of financial enthusiasm.
The case for HBAR is compelling. Hedera, a large crypto project with a market capitalization of over $10 billion, boasts a governance council that reads like a who’s who of blue-chip companies, including Google and Ubisoft. Its stablecoin ecosystem is also gaining momentum, with the stablecoin supply jumping to over $162 million, a significant leap from where it started the year.
HBAR Price Technical Analysis
The daily chart of HBAR reveals a story of resilience and determination. It has formed a double-bottom pattern at $0.1265 and has already broken above the neckline at $0.2300, its highest point on May 13. It’s like a character in a Chekhov play, finally finding its moment of triumph after a long and arduous journey.
Hedera price is on the cusp of forming a mini golden cross pattern as the spread between the 50-day and 100-day moving averages narrows. It has also moved above the 50% Fibonacci retracement level, a technical indicator that would make even the most stoic analyst crack a smile.
Therefore, the most likely scenario is continued upside, with the next level to watch at $0.3155, the 23.6% retracement point, which is 30% above the current level. It’s a future that looks bright, like the dawn of a new day in the world of crypto. 🌞
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2025-07-17 16:58