The post Hedera Surges Nearly 200% in a Month: What’s Driving the Rally? appeared on BitcoinEthereumNews.com.

Hedera (HBAR) is reported to have just begun its rally despite surging by more than 200% in the last 30 days and 32% in the last seven days. Its recent rally is reported to have been triggered by the HBAR Exchange Traded Fund (ETF) application and crucial technical integrations. Hedera (HBAR) recently made a surprising comeback to hit a monthly high of $0.1692 from its $0.04 low. According to our market data, the asset recorded a staggering surge of 32% on its weekly price chart and a 205% growth on its monthly chart. Meanwhile, it remains significantly down from its all-time high price of $0.57 recorded on September 16, 2021. Coupled with the Ripple effect from Bitcoin’s ascension to $99k and the broad market rally, the price of HBAR was massively influenced by the recent reports that Canary Capital has filed for an S-1 registration statement for a new HBAR ETF. According to our source, this move is meant to provide direct exposure to the HBAR token. Immediately after this disclosure, the asset surged by 20% to reach $0.066. What Could Be The Driving Factors? Exploring other factors behind its sudden growth, CNF discovered that the price could have also been affected by the fixed-fee transaction approach. Fascinatingly, this was recently lauded by the vice president, Don Ripske, when he highlighted its applicability in enterprise applications. So far, 71 billion transactions have been completed on the network. Additionally, its transaction capacity is around 10,000 Transactions Per Second (TPS). Hedera has also been integrated for cross-border trade payments services with the Monetary Authority of Singapore (MAS). According to multiple sources, the Federal Reserve is also advancing its move to integrate Hedera and Ripple’s XRP with a specific focus on RLUSD. As highlighted by crypto influencer Shawn, this is meant to enhance…

---

Filed under: News - @ November 26, 2024 1:27 am