{"id":77144,"date":"2024-04-24T04:24:46","date_gmt":"2024-04-24T08:24:46","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=77144"},"modified":"2024-04-24T04:25:30","modified_gmt":"2024-04-24T08:25:30","slug":"hedera-hbar-price-rises-100-after-blackrock-development","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/hedera-hbar-price-rises-100-after-blackrock-development\/","title":{"rendered":"Hedera (HBAR) Price Rises 100% After BlackRock Development"},"content":{"rendered":"\n

The daily trade volume<\/a> for Hedera increased by a stunning 5440%, reaching a high of $2.3 billion. The HBAR price has reached a two-year high, indicating a further climb ahead.<\/p>\n\n\n\n

\"Hedera<\/figure>\n\n\n\n

The native cryptocurrency of Hedera Hashgraph, HBAR, increased by an astounding 100% to $0.18.<\/p>\n\n\n\n

On Tuesday, April 13, financial giant BlackRock announced it would tokenize its money market fund using the Hedera Blockchain.<\/p>\n\n\n\n

However, this provided the HBAR price with a robust undercurrent, enabling it to surpass previous April highs and surge higher.<\/p>\n\n\n\n

BlackRock Boosts Hedera (HBAR) price<\/h2>\n\n\n\n

Archax, a London-based digital asset exchange, broker, and custodian, has tokenized the BlackRock ICS US Treasury money market fund (MMF) on the Hedera (HBAR) blockchain, an unprecedented development in the real-world assets (RWAs) sector.<\/p>\n\n\n\n

Collaboration between Ownera, an institutional-grade digital assets platform, Archax, and the HBAR Foundation<\/a> enabled the completion of this feat.<\/p>\n\n\n\n

However, the achievement is similar to the effective tokenization of abrdn's MMFs on the Hedera blockchain the previous year.<\/p>\n\n\n\n

abrdn is the largest active wealth manager in the UK, underscoring the importance of this move in the cryptocurrency sector.<\/p>\n\n\n\n

Meanwhile, this development was sufficient to give Hedera (HBAR) a substantial undercurrent.<\/p>\n\n\n\n

HBAR's daily trading volumes have increased by 5440%, reaching $2.3 billion.<\/p>\n\n\n\n

Additionally, this marks the initial instance in over two years that the price of Hedera (HBAR) has surpassed $0.15.<\/p>\n\n\n\n

Should the bulls maintain their current momentum, the rally may sustain itself and reach its utmost levels.<\/p>\n\n\n\n

HBAR Price Action Ahead<\/h2>\n\n\n\n

A growing momentum may propel the HBAR price\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> as the Relative Strength Index (RSI) follows the favorable outlook.<\/p>\n\n\n\n

HBAR can surge higher after its intraday high of $0.1817, potentially reaching psychological thresholds of $0.2000 or $0.3000 under an exceptionally bullish scenario.<\/p>\n\n\n\n

However, this trajectory is contingent on HBAR bulls restraining their propensity for profit-taking.<\/p>\n\n\n\n

\n

Alright here we go. Took longer than expected and shook me out of my levered long on the way, but $HBAR<\/use><\/svg><\/span><\/a> is finally approaching my first major upside target at around .20.

Note this is a monthly region of resistance so it's quite significant but it's also the only thing standing\u2026 https:\/\/t.co\/1aCnnkinHl<\/use><\/svg><\/span><\/a> pic.twitter.com\/Dkb8cki1Cg<\/use><\/svg><\/span><\/a><\/p>— CrediBULL Crypto (@CredibleCrypto) April 24, 2024<\/use><\/svg><\/span><\/a><\/blockquote>

Conversely, a surge in profit-booking might result in a decrease in the price of the altcoin.<\/p>\n\n\n\n

Significant selling pressure is also probable near the $0.1096 level, where increased white-shaded volume profiles signify a considerable seller presence.<\/p>\n\n\n\n

Contrary to the bullish narrative, a breach below the 21-day Smooth Moving Average (SMMA) at $0.1038 would be significant.<\/p>\n\n\n\n

Furthermore, this situation could cause HBAR to descend, with the search for support near the $0.0815 level.<\/p>\n","protected":false},"excerpt":{"rendered":"

The daily trade volume for Hedera increased by a stunning 5440%, reaching a high of $2.3 billion. The HBAR price has reached a two-year high, indicating a further climb ahead. The native cryptocurrency of Hedera Hashgraph, HBAR, increased by an astounding 100% to $0.18. On Tuesday, April 13, financial giant BlackRock announced it would tokenize its […]<\/p>\n","protected":false},"author":56,"featured_media":77156,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[19279,19280,19281,19282],"class_list":["post-77144","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-hbar-price-analysis","tag-hbar-price-rally","tag-hedera-hashgraph-hbar-news","tag-hedera-price-analysis"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/04\/Hedera-HBAR-Price-Rises-100-After-BlackRock-Development.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/77144","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/56"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=77144"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/77144\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/77156"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=77144"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=77144"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=77144"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}