HBAR Jumps 13% on Hedera’s Stablecoin-Pilot Announcement With Australia’s Central Bank
The post HBAR Jumps 13% on Hedera’s Stablecoin-Pilot Announcement With Australia’s Central Bank appeared on BitcoinEthereumNews.com.
HBAR surged 13% following the stablecoin pilot Project Acacia rollout, powered by Hedera, which was sponsored by Australia central bank. The trading volume and future open interests soared, indicating a high momentum in the market and the increased confidence of investors. The native HBAR token has surged 15% over the past day to a high of just over $0.2052 as it has now confirmed that it participates in the Project Acacia, an Australian pilot involving digital settlement assets. The announcement came just as market moods shifted momentarily toward optimism, propelling the token to a 30-day high and its weekly gains more than 14%. Related: Hedera Joins Central Bank-Led Project Acacia as Stablecoin Research Accelerates More investor participation gave credence to the rally. The volume in trading was almost doubled to $373 million, and open interest in a Hedera future rose to 225.98 million $, indicating the potential to make consistent upside progress. Liquidity also increased with derivatives reaching $267.01 million on market volume according to Coinglass. Traders Target Liquidation Zones as Momentum Builds On-chain data signals an increasing risk appetite in traders. The liquidation heatmap on Binance indicates that there were concentration areas on the HBAR/USDT pair at a price range of $0.170 and $0.1779. These points are recovering price action as a magnet, conditions that lead to upper momentum through short squeezes. The support is strong around the previous areas of around $0.155 and $0.160, providing a strong platform if corrections are experienced. Technical indicators confirm the rally is strong, with the Relative Strength Index (RSI) already at 75.87 and the MACD turning bullish. Source: Trading View Green candles and increased participation in the spot and futures markets characterize the price pattern of HBAR. An increase in open interest corresponds with the rise in volume, generally making a very…
Filed under: News - @ July 11, 2025 8:20 pm