Hedera seen an outstanding 125% surge in trading quantity, following the day previous to this’s Nasdaq’s filing with the US SEC to checklist the Canary HBAR ETF. On the change hand, the associated charge has hit yearly low, declining by 10% in the last 24 hours amid the broader crypto market downturn.
Hedera (HBAR) trading quantity surged by 125% as of late as its set apart fell to a yearly low, in step with crypto.info. This spike in trading exercise comes rapidly after Nasdaq filed with the US SEC to checklist Canary’s HBAR ETF, elevating the prospect of the SEC approving the fund. If successful, the Canary HBAR ETF would offer institutional patrons with a straightforward capacity to speculate in Hedera.
HUGE NEWS! 👀🔥
CANARY JUST FILED FOR AN $HBAR ETF WITH NASDAQ. pic.twitter.com/Oa9zFkg8FR
— Marc In The Matrix⚡️🧠 (@MarcShawnBrown) February 24, 2025
The associated charge of Hedera had beforehand viewed an outstanding rally in Dec. 2024, reaching a cycle high of $0.40 in Jan. On the change hand, since hitting that prime on Jan, 13, the token has been on the bearish trajectory, creating seven consecutive bearish candlesticks on the weekly chart.
As of now, HBAR has dropped over 50% from its local high and is in the intervening time hovering round $0.20, with the closest beef up level at about $0.12 and resistance at $0.34. Although the Relative Power Index stands at 48.91, indicating a just momentum, the MACD presentations a bearish crossover, suggesting that downward strain would possibly maybe presumably proceed in the short duration of time.
As some distance as the present developments are concerned, Hedera is strengthening its residing in institutional tokenization. The HBAR Foundation only in the near previous invested in Archax’s tokenized shares of Fidelity Worldwide’s USD Money Market Fund. Archax, which operates as the principle FCA-regulated digital asset substitute, has tokenized the MMF on the Hedera network.
