Key Takeaways:
- Trump nominated Brian Brooks, a board member of Hedera, to be the US SEC chairperson.
- Following this, the HBAR token surged in the market with its total growth in 7 days reaching a high of 134.95%.
- The Hedera coin’s market sentiment remains “bullish” with the Fear & Greed index indicating “Extreme Greed”.
The HBAR price has surged above 50% in the last 24 hours. This growth comes amid the growing speculation about the SEC leadership change. The HBAR or Hedera Hashgraph is a decentralized distributed network that’s quite different from BTC and Ethereum but performs the same functions. In this article, we will discuss the coin’s sudden surge in the market, the factors that influenced this run, and how the coin will fare in the market in the coming days.
HBAR Current Market Standing
The HBAR is currently ranked #26 in the overall crypto market based on its total market capitalization. The coin’s bull run commenced on the 10th of October in between the US Presidential Election. At that time, the coin was trading at $0.05080. Now, with an increase of $0.0908, the coin’s market value stands at $0.1416.
The coin’s bull run was progressing well in the market up until the 18th. On that day, the coin’s market value spiked dramatically and jumped from $0.08991 to the highest one-day value of $0.1553 in a matter of hours. Even though the coin has come down from that point, the bull run is still in effect. So there is a high probability that the coin’s value will increase in the coming days if the market trend continues to remain in its favor.
SEC Chairperson Nomination and the HBAR Eruption
As Donald Trump is currently the President-elect of the USA, it is only a matter of time before Gary Gensler is fired from his position as the head of the SEC. Gary even hinted about his departure from the SEC at the Practising Law Institute’s 56th Annual Conference on Securities Regulation, which was held on 14th November.
With this recent development in the crypto industry, the hunt for the new SEC leader is on. To fill this vacancy, Trump has nominated Brian Brooks, a Hedera Board Member. This has raised a lot of excitement in the crypto industry, especially among the Hedera community. Following this announcement, the Hedera coin has surged above 50%. A lot of HBAR holders have been able to profit from this.
This news has significantly helped in fueling the price of the HBAR coin. However, we cannot say that the full credit behind the surge is because of this news. As the coin gained popularity in the market, it has made a lot of collaboration with various major companies. For instance, the collaboration of the Hedera with the Nairobi Securities Exchange and Kenya’s primary security exchanges has also contributed to the rise of HBAR coins in the market.
HBAR Price Prediction 2024-30: What To Expect In The Coming Years
Now that we looked into the coin’s current standing in the market and the various factors that influenced the price of the coin, let’s take a quick peek into its future. For this purpose, we have constructed a detailed price prediction table of the coin for the coming years. Kindly refer to it to gain insights into the coin’s future.
| Year | Min Price | Avg Price | Max Price | Potential ROI |
|---|---|---|---|---|
| 2024 | $ 0.153403 | $ 0.037485 | $ 0.268263 | 95.90% |
| 2025 | $ 0.227166 | $ 0.449304 | $ 0.756696 | 452.78% |
| 2026 | $ 0.1124394 | $ 206658 | $ 0.412194 | 201.07% |
| 2027 | $ 0.133302 | $ 0.155259 | $ 201455 | 47.14% |
| 2028 | $ 0.132508 | $ 0.203485 | $ 0.494159 | 260.93% |
| 2029 | $ 0.403016 | $ 0.897351 | $ 1.577407 | 1052.46% |
| 2030 | $ 0.175088 | $ 0.355013 | $ 0.81337 | 493.47% |
While referring to the table, keep in mind that the above-given prices are susceptible to changes in market trends and may vary accordingly.
Is It a Good Time To Invest In The HBAR Token?
The overall community sentiment toward the HBAR coin reflects a “Bullish” trend. As per the information provided by numerous tier-1 analysts of the markets, the coin is expected to rise by 64.20% and reach $0.252847 by the beginning of the second half of December. The coin is currently trading its 16/30 days in the green with a volatility rate of 27.63% based on the past 30 days.
The HBAR’s Fear & Greed Index is currently showing a value of 90 indicating “Extreme Greed” in the market. Based on this forecast, it is the ideal time to invest in the HBAR token. However, you should take into account the market’s volatility and conduct your own research about market trends before proceeding with the investment.
The live price of HBAR for the day is $0.1416(at the time of the article’s writing) indicating a rise of 21.24% from the previous day.