- Hedera (HBAR) has increased over 98% in the last month.
- Major financial firms, including BlackRock and Fidelity, have added tokens to the HBAR ecosystem.
- HBAR’s market capitalization has surpassed $12 billion, reaching a yearly high.
- Crypto trading volume in HBAR climbed more than 30% in the past day.
- Rising numbers of large HBAR holders suggest strong investor confidence.
The Hedera (HBAR) cryptocurrency rose by more than 98% over the past 30 days, becoming a top gainer on the market. The price surge follows a broad market rally, driven in part by Bitcoin temporarily climbing above $119,000 and the passage of several pro-crypto bills.
BlackRock and Fidelity recently integrated representative tokens into the HBAR ecosystem, contributing to a rapid increase in HBAR’s value and trading activity. According to recent data, HBAR’s market cap stands above $12 billion, the highest since January of last year.
Analysts pointed to increased trading volume as evidence of strong buying interest. “A rising volume profile during the breakout is further confirmation of buying conviction,” stated analysts cited in a recent summary. HBAR is currently consolidating above $0.27, with previous resistance levels at $0.20 and $0.176 now acting as price supports. Continued momentum could push HBAR’s value to $0.54, near its previous all-time high of $0.5701. This would also represent the first time HBAR had traded above $0.50 since 2021.
Recent federal legislation and crypto-focused laws have placed the industry in the spotlight. With Bitcoin rallying and the approval of laws such as the GENIUS Act, attention on altcoins like HBAR has increased. HBAR’s trading volume exceeded $797 million in the last 24 hours alone, up more than 30%.
Large crypto wallets holding between one million and ten million HBAR tokens are rising in number, according to Hedera Watch. Since October 2024, these so-called “crypto whales” have grown more confident, often holding over ten million tokens long-term.
Analysts expect that, if these large holders remain active, HBAR may continue its upward momentum through August, potentially reaching the $0.50 mark.
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