HBAR Price is Up 53% as Hedera Board Member Brian Brooks Could Head US SEC

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As a seasoned analyst with over two decades of experience in the financial markets, I have seen my fair share of price surges and dips. The recent 53% increase in HBAR price within just 24 hours has caught my attention, and it’s not just the numbers that excite me but the underlying factors driving this rally.

The price of HBAR has made a positive shift, increasing by 53% over the past 24 hours, causing a buzz in the community about potential future growth. Recently, this public blockchain network has been garnering attention due to its recent partnerships, which have heightened interest in the token. Now, the appointment of Hedera board member Brian Brooks as a nominee for the next U.S. SEC Chair could further amplify this spotlight.

HBAR Price Skyrocketed With Rising Bets on Brian Brooks

With Donald Trump’s pledge to replace Gary Gensler as SEC Chair, a highly criticized figure within the cryptocurrency sector, the search is now underway for his successor. This announcement has stirred anticipation, as Trump has selected Brian Brooks, a member of the Hedera board, which has sparked enthusiasm among Hedera token holders, causing a 53% increase in the price of HBAR.

On the widely-used Khashi prediction platform, people are wagering on who will be the next Chair of the Securities and Exchange Commission (SEC). The leading contender is Dan Gallaher, with around 61% of votes, followed closely by Brian Brooks at 12%, Paul Atkins with 9%, and several other candidates. Interestingly, after a significant 7% increase in votes for Brian Brooks, he has moved up to the second position. This upward trend is noteworthy because President Donald Trump has nominated him for the US SEC chair role on two separate occasions.

Most notably, Hedera’s price surge can be attributed to its current trading value of $0.1350, backed by a market capitalization of $5.3 billion. Moreover, there’s been an impressive 244% increase in trading volume, currently standing at $2.06 billion, indicating growing enthusiasm for this token. However, it’s worth noting that the Hedera price rise isn’t solely due to these factors; it has also climbed by 158% over the past week and an impressive 168% in the last month.

Some crypto enthusiasts are likening HBAR to Solana in 2024 due to its growing recognition. However, what truly fuels the excitement is its partnerships with significant entities such as the Nairobi Securities Exchange and Kenya’s principal securities exchange. Additionally, the technology behind Hedera is playing a crucial role in the upcoming WISeSat.Space satellite launch scheduled for January 2025. This mission is revolutionary, marking the world’s first space-based exchange, in partnership with SpaceX. This collaboration aims to enhance satellite communication and integrate blockchain technology.

Makes Headlines on Swiss Radio Television!

I’m excited to announce that my forthcoming satellite launch with SpaceX in January has been showcased by Radio Télévision Suisse, the Swiss Radio and Television network!

This…

— Carlos Creus Moreira (@CreusMoreira) November 15, 2024

What’s Coming Next For Hedera Price?

Hedera’s current performance is noteworthy, but it’s anticipated that its future value will exceed expectations according to several crypto experts. These analysts predict that the price of this token could surge even more. Notably, Captain Faibik, a well-known cryptocurrency expert, foresees a long-term price target of $1 for HBAR, as its price pattern appears to be breaking out of a Symmetrical triangle on the weekly chart.

$HBAR is breaking out of Symmetrical Triangle on the Weekly timeframe Chart..!!

Long term Target : 1.00$#Crypto #HBAR #HBARUSDT

— Captain Faibik (@CryptoFaibik) November 18, 2024

Shawn, another analyst, anticipates the price to persist at $0.10 up until Saturday, and this projection seems to have come true. He now believes that this trend will continue, eventually reaching the support level of 0.1562 as part of a larger cryptocurrency surge.

Based on technical analysis, there’s a significant surge in buying interest for the token, and all signs point towards further price increases. However, if the token reaches an overbought state, it could trigger a trend reversal, potentially causing the HBAR price to drop.

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2024-11-18 20:04