On Hedera $HBAR they are pressuring from all sides
The HBAR rate sharply increased after the Canary Capital project applied for an exchange-traded fund (ETF) for this asset. This news encouraged investors who were hoping for a strong influx of liquidity into the asset in case this instrument was launched.
Additionally, rumors surfaced in the market that Donald Trump may appoint Brian Brooks, a member of the Hedera board, as SEC chairman. However, this information has not been confirmed. Currently, this position is predicted to go to crypto lawyer Teresa Goody Guillen. Furthermore, among the candidates is Robinhood's chief legal officer Dan Gallagher. The change in sentiment cost the HBAR token a 20% drop. At one point, the coin tested an intraday low of $1.11. By the time of publication, the price had recovered to $1.22. The total open interest (OI) in HBAR derivatives decreased from $120 million to $100.95 million. The decrease in OI indicates a waning of speculative activity: fewer traders are opening new positions, and liquidity is declining along with the upward momentum. The social sentiment indicator shows that there are fewer optimistic comments about Hedera, confirming a high probability of a trend change.
