Hedera Coin HBAR/USD Surges 35% to Reach Seven-Month High
What Happened
Hedera’s HBAR coin climbed 35% in the last 24 hours, hitting a seven-month high. The trading volume also tripled to $3.50 billion, indicating increased buying interest.
While Bitcoin and Ethereum saw modest gains, HBAR outperformed with a 160% increase over the past week.
A potential bullish catalyst for the surge is the speculation around Brian Brooks, an HBAR Foundation board member, possibly becoming the new SEC Chair under Donald Trump. Odds on prediction platform Kalshi increased to 43%.
Additionally, Canary Capital filing for an HBAR ETF could drive mainstream adoption of the coin.
Hedera is a public blockchain network supporting decentralized applications, with HBAR playing a key role in securing the network through staking.
HBAR currently has a market cap of $5.70 billion and a circulating supply of 37.69 billion.
As of now, HBAR is trading at $0.1497, up 35% in the last 24 hours.
Image via Pixabay
Read Next:
Market News and Data brought to you by Benzinga APIs
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
