The post Hedera’s HBAR price may jump 215% to $1, analyst predicts appeared on BitcoinEthereumNews.com.

Hedera Hashgraph price rally has stalled this month after surging by over 823% between Nov. 5 and Dec. 3.  Hedera Hashgraph (HBAR) was trading at $0.32, up by 650% from its lowest level last month. The recent surge has pushed its market cap to over $12 billion.  Hedera has numerous catalysts that may push its price higher, as some analysts expect. One of these analysts, All In Crypto, believes that HBAR price has room to jump to $1 in this bullish cycle. He cited its technicals, especially a double-bottom pattern, to predict this move. Wont be long before $HBAR starts moving again up towards the $1.00, continuation pattern present, giving us now a confluence of patterns taking us toward $1.00 (larger double bottom still in play) pic.twitter.com/1YJDPxeKVp — ALLINCRYPTO (@RealAllinCrypto) December 13, 2024 One potential catalyst for Hedera Hashgraph is the rising hopes for an HBAR fund. Valour Funds, a large firm with over $1 billion in assets, filed for a Hedera physical staking exchange-traded product on Euronext, a move that will lead to more adoption by institutional investors.  Just last month, Canary Capital filed for a spot on HBAR ETF with the Securities and Exchange Commission. There is a chance that the ETF will be approved since the agency is set to go through major changes when Gary Gensler steps down.  Hedera Hashgraph is also seeing traction in its decentralized finance ecosystem. Data shows that the total value locked has jumped to a record high of almost $200 million, much higher than January’s low of $53 million. The biggest players in the ecosystem are Stader, SaucerSwap, and Bonzo Finance. HBAR is also seeing strong demand in the futures market, where futures open interest rose to over $326 million. Open interest is a metric that looks at the open call…

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Filed under: News - @ December 13, 2024 8:13 pm