$HBAR 2 Reasons Why HBAR Price Dips 30% after 100% Surge

1. Misunderstood Endorsement

The 30% decline in the value of Hedera token HBAR may have been caused by confusion regarding BlackRock’s role in the tokenization project on the Hedera Hashgraph platform. At first, HBAR experienced a dramatic increase of more than 100% after the HBAR Foundation announced that, blockchain companies Archax and Ownera, had tokenized BlackRock’s ICS U.S. Treasury Fund shares on the Hedera platform.

2.Global Crypto Market Crash

HBAR price is dropping due to the overall crypto market crash. Major cryptocurrencies like Bitcoin and Ethereum have also seen declines. The global cryptocurrency market’s value has decreased by 4.28% in the last 24 hours, with a total trading volume of $84.52 billion.

The sudden downward in the market can be attributed to geopolitical tensions in the Middle East and the liquidation of long positions. Recent military strikes in Southern Lebanon have increased uncertainty, leading investors to seek safer assets.