Here’s Why Hedera (HBAR) Price Surges 100% in 24 Hours
HBAR has catapulted to become the fourth most traded altcoin (excluding stablecoins), behind Bitcoin, Ethereum, and Solana.
This notable rally comes as BlackRock, the world’s largest asset manager, announced a partnership with Archax and OwneraIO to tokenize its US Treasury Money Market Fund on Hedera.
Hedera’s Blockchain Advancements: TradFi Integration Spurs Market Growth
The integration of traditional finance (TradFi) with Hedera’s blockchain technology marks a significant milestone, highlighting the network’s ability to attract institutional-grade projects with its high speed, strong security, and low fees. The expansion of Archax’s tokenized money market fund offering plays a key role in expanding the range of financial instruments available to institutional clients.
With this move, Hedera not only demonstrates its growing relevance in the financial sector, but also confirms investors’ confidence in the network’s ability to handle important financial instruments.
As Hedera continues to promote blockchain’s inclusion in mainstream finance, HBAR’s price reaction highlights the market’s enthusiasm for innovation and institutional adoption in the crypto space.
HBAR Enters Top 30 as Trading Volume Surges
HBAR’s price surged by an impressive 100% following the announcement. HBAR hit a two-year high of $0.18 before the price began to correct. The stock is currently trading at a 57% price gain on the day.
In addition, HBAR’s total market cap currently stands at $4.7 billion. The rapid surge in price has HBAr entered the top 30, currently ranking 26th. It is also worth noting that the announcement has caused HBAR’s trading volume to climb to an impressive $2 billion as of the time of writing.
This makes it the fourth most traded altcoin (excluding stablecoins), behind Bitcoin, Ethereum, and Solana.
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