Key Takeway:
- Canary Capital applies for HBAR ETF following Trump’s victory in the presidential election.
- Following this, the HBAR coin has surged over 30% in the last 4 days.
- The market sentiment of HBAR remains “bullish” with the Fear & Greed Index indicating “Extreme Greed”.
The HBAR, the native currency of the Hedera network has surged above 39% in the last 7 days. The HBAR or the Hedera Hashgraph is a decentralized distributed network that is different from Bitcoin and Ethereum blockchain in structure but performs the same functions. In this article, we will discuss the coin’s sudden bull run in the market, the factors that influenced this bull run, and also how the coin will fare in the market in the days to come.
HBAR Current Market Standing
The HBAR is currently ranked #38 in the crypto market based on its market capitalization. The coin’s bull run in the market commenced on the 10th of October in between the US Presidential Election. At that time, the coin was trading at $0.05080. Since then, the coin has gained huge momentum in the market and is now trading at $0.06974 with an uptrend of 39.35% in the last 24 hours.
The coin suddenly had a straight-up spike during its rally on the 12th where it reached as high as $0.07282. We will discuss the reasons for this in the next section. With a total circulating supply of 37.68 billion, the market capitalization of the coin is currently standing at $2.63 billion. The trading volume of the coin in the last 24 hours is $537.08 million, which shows an increase rate of 100.06%. If the market trends continue to favor the coin, we may see a further surge in the coin’s price in the coming days.
HBAR ETF & Price Surge
The HBAR experienced a sudden surge on the 12th of November following which the price of the coin shot straight up for a few moments. This sudden price surge of the coin comes from Canary Capital’s recent application for an HBAR Exchanged Traded Funds(ETF). This has helped the coin gain a lot of attention in the market.
The application can help the HBAR coin to increase its accessibility and can potentially attract more investors to it. ETFs are financial instruments that allow users to gain exposure to crypto trading, HBAR in this case, without actually needing to own it. If the ETF approval for the Canary Capital gets approved., it could attract institutional investors as well as help in increasing the liquidity in the market.
Overall, the ETF can significantly influence the price of the HBAR coin. Various market analysts are carefully monitoring the situation. It can even lead to other cryptocurrencies following in the path of HBAR and seeking ETFs of their own. This recent situation highlights the potential and importance of digital assets for the days to come.
HBAR Price Prediction: What The Future Holds For The Coin
Based on the opinions of various tier-1 market analysts and experts, we have put together a price prediction table for the coin. It depicts the potential price and ROI of the Hedera coin in the years to come. If you wish to gain valuable insights into the coin’s future, kindly refer to it.
| Year | Min Price | Avg Price | Max Price | Potential ROI |
|---|---|---|---|---|
| 2024 | $ 0.069024 | $ 0.016608 | $ 0.120081 | 71.20% |
| 2025 | $ 0.106334 | $ 0.201192 | $ 0.332148 | 373.69% |
| 2026 | $ 0.056241 | $ 0.092015 | $ 0.184012 | 162.35% |
| 2027 | $ 0.060012 | $ 0.069846 | $ 0.089595 | 27.74% |
| 2028 | $ 0.059768 | $ 0.087364 | $ 0.179647 | 156.11% |
| 2029 | $ 0.177597 | $ 0.351067 | $ 0.625996 | 792.53% |
| 2030 | $ 0.04528 | $ 0.119344 | $ 0.308588 | 339.90% |
While referring to the table, keep in mind that the above-given prices are susceptible to changes in market trends and can vary accordingly.
Is It a Good Time To Buy The HBAR Coin?
The overall community sentiment of the Hedera coin indicates a “Bullish” trend. As per the opinions of various market experts, the coin is expected to rise by 63.22% and reach $0.113077 by the end of the first half of December. The coin has recorded 15/30 (50%) days to be trading in green with a price volatility of 8.79% in the last 30 days.
The Fear & Greed index shows a value of 80 indicating “Extreme Greed”. Based on this forecast it is a good time to start investing in the HBAR coin. However, you also need to keep in mind the fact the fact that the crypto market is an extremely volatile place. So, it would be better if you conduct thorough research on the various market trends before proceeding with the investment.
The live price of HBAR for the day is $0.06974 (at the time of the article’s writing) indicating a rise of 39.35% from the previous day.