Canary

Rally

Hedera

Hedera Hashgraph (HBAR), a publicly distributed ledger platform, has seen its price rally take a breather this month after an extraordinary surge of over 823% between November and December.
Despite the recent pause, HBAR remains up a substantial 650% from its November lows, currently trading around $0.32, with a market capitalization exceeding $12 billion. The focus now shifts to HBAR price prediction and what the future holds.
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 Source: <a href="https://www.coingecko.com/en/coins/hedera" target="_blank" rel="noopener noreferrer nofollow">CoinGecko</a>
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While the rapid ascent has slowed, analysts maintain a positive outlook on HBAR’s future. Some predict the cryptocurrency could reach $1 during the current bullish cycle, citing supportive technical indicators such as a double-bottom pattern.
This ambitious target represents a significant upside potential from its current price and is a key element of current HBAR price predictions.
The possibility of a Hedera exchange-traded fund (ETF) is generating significant excitement. Valour Funds has filed for a physical staking exchange-traded product (ETP) on Euronext, a major European stock exchange, which would broaden access for institutional investors.
Additionally, Canary Capital has filed for a spot HBAR ETF with the U.S. Securities and Exchange Commission (SEC), a move that is being closely watched, especially given potential upcoming changes at the regulatory agency. These developments play a crucial role in shaping HBAR price prediction.
Hedera’s decentralized finance (DeFi) ecosystem is experiencing robust growth. The total value locked (TVL) has soared to nearly $200 million, a dramatic increase from just $53 million in January.&nbsp;
Key players like Stader, SaucerSwap, and Bonzo Finance are driving this expansion. This growth contributes positively to HBAR price prediction.
The HBAR futures market is showing strong demand, with open interest exceeding $326 million. This indicates heightened trading activity and suggests potential for future price volatility, a factor considered in HBAR price prediction.
Looking ahead, a break above the year-to-date high of $0.3900 would provide further confirmation of bullish momentum, potentially paving the way for a test of the all-time high of $0.5690 and potentially even reaching the $1 target predicted by some analysts. This $1 mark is a key element in many current HBAR price predictions.
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HBAR Price Rally Cools Down, $1 Prediction Still in Play

The Crypto Times

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