Hedera Price Surges 10% After Canary Capital HBAR ETF Goes Live on Vanguard

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Hedera Price Surges 10% After Canary Capital HBAR ETF Goes Live on Vanguard

Highlights

  • Canary Capital's HBAR ETF boosts institutional interest in cryptocurrencies.
  • Market recovery, driven by lower interest rates, fuels crypto surge.
  • HBAR price surge reflects bullish sentiment and ETF market exposure.

Hedera (HBAR) price saw a 10% increase over the last 24 hours, rising above $0.14.This boom comes after Canary Capital HBAR ETF was started on Vanguard, which generated positive investor expectations. 

The entire cryptocurrency market also saw a significant increase, increasing by 7.18% over the same period.

Why Is Crypto Market Surging?

The general crypto market rebound follows a massive breakout, and it is an indicator of renewed trust in digital assets. The price of Bitcoin broke the barrier of over $90,000 when the U.S. Federal Reserve ceased its quantitative tightening (QT) policy.

This policy change eliminated one of the main points of pressure in regard to liquidity. It also increased the expectations of lower interest rates, which increased the demand of alternative assets such as Bitcoin.

Ether was also doing well since it is still over $3,000 following its recovery. Other popular cryptocurrencies, such as Solana (SOL), Cardano (ADA), and XRP, however, registered a similar positive pattern.

This market-wide optimism favored Hedera especially. With the crypto market regaining ground, the stock of Hedera is still feeling the effect of this optimism.

Canary Capital Launches HBAR ETF on Vanguard’s Platform

Canary Capital has also introduced its spot HBAR exchange-traded funds (ETFs) on the platform of the Vanguard Group. This is a huge milestone since the first exchange-traded fund to gain exposure to Hedera native cryptocurrency, HBAR, is offered by a well-established investment management company.

HBAR ETF enables investors to obtain exposure to cryptocurrencies with the help of traditional brokerage accounts. It avoids the necessity to connect with crypto exchanges or digital wallets. Hedera is a decentralized public network based on the hashgraph consensus mechanism of transactions. HBAR is the native means of fee payment and staking in the network.

Canary Capital, the provider of cryptocurrency-related ETFs, is assisting investors in investing in digital assets through the usual investment account. This introduction is an indication of increased institutional desire in the regulated cryptocurrency products. It also illustrates a growing interest among conventional finance companies to provide their customers with digital asset solutions.

Will HBAR Price Rally To $0.17 Soon?

The HBAR price surged to $0.14384, marking an impressive 10% increase over the past 24 hours.

The MACD indicator of the chart shows a positive crossover that indicates that it will bring about additional gains. The orange signal line has been overtaken by the blue MACD line, which means that the momentum is shifting to the buyers.  Moreover, the histograms below the zero line are becoming green, which represents the growing bullishness.

Hedera Price Surges 10% After Canary Capital HBAR ETF Goes Live on Vanguard
Source: HBAR/USDT 4-hour chart: Tradingview

Bullish momentum might further cause the price of Hedera to skyrocket to as high as $0.15, or even to the level of $0.17. Nonetheless, when bears assume control, there may be a pullback to $0.13, and a lower price level may be experienced in case the support level does not hold.

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Frequently Asked Questions (FAQs)

1. What is the reason behind Hedera's (HBAR) 10% price surge?

Hedera's price surged due to the launch of the Canary Capital HBAR ETF on Vanguard, which sparked investor optimism and fueled market-wide recovery.

2. . What is the Canary Capital HBAR ETF?

The Canary Capital HBAR ETF is the first exchange-traded fund offering exposure to Hedera’s native cryptocurrency, HBAR, on Vanguard's platform, allowing investors to gain crypto exposure via traditional brokerage accounts.
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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

HBAR

Hedera Hashgraph

$0.14509079 8.86% (24h)

24 Hours volume

$187.34M

Market Cap

$6.16B

Max Supply

1000M

Buy $HBAR with MEXC
About Author
About Author
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.