Positive updates about Coinbase and President-elect Donald Trump have ignited a surge in the price of Hedera (HBAR), reaching an impressive peak of $0.3988 today. This represents a significant 12% rise in just one day, with HBAR barely a 10% gap away from its highest recorded value of $0.4323, which it achieved in 2021.
What Drives Hedera (HBAR) Price To the Rally?
Currently, the value of Hedera stands at $0.3796 per unit. Over the past week, it has experienced a significant increase of approximately 38.4%. Looking back over the year, its growth is even more impressive at around 30.2%. In terms of rankings, it currently holds the 14th spot with a market capitalization of $14.53 billion. Remarkably, its trading volume has increased by an astounding 111% in the last 24 hours, reaching a total of $2.72 billion.
Significantly, the rise in Hedera’s price can be attributed to Coinbase’s recent announcement about HBAR. Today, Coinbase declared that they are offering custody services for the token on their premium platform, Coinbase Prime. Their statement read, “Hedera (HBAR) is now available for custody on Coinbase Prime!
Donald Trump’s New Crypto Presidential Term
For several months, the idea of the U.S. accumulating a strategic Bitcoin reserve has been a hot topic, particularly after Trump’s speech at the Bitcoin 2024 Conference in Nashville. As his inauguration is imminent, people are eagerly awaiting any crypto-oriented policies he might implement. The prospect of Trump’s Bitcoin reserve strategy and his administration’s friendly stance towards cryptocurrency could significantly transform the U.S. financial sector.
Latest information indicates that Trump is considering holding a strategic portfolio containing cryptocurrencies like USDC, Solana (SOL), and XRP (XRP). This news has sparked excitement in the crypto world, suggesting a potential market upswing, or bull run. Additionally, the value of Hedera cryptocurrency seems to be climbing steadily as well.
HBAR Targets a New ATH of $0.57
After numerous unsuccessful attempts, Hedera has finally managed to surpass its month-long price ceiling at $0.33. A financial analyst predicts an optimistic goal for Hedera, aiming for a new all-time high of $0.57 as the token has overcome the significant 0.61 Fibonacci resistance level.
Based on my analysis, if the daily candlestick manages to close above the $0.37 mark, there’s a strong likelihood that the price will rally to around $0.46, which represents a significant Fibonacci level. Should we breach the $0.46 threshold, it could potentially catapult the price straight towards a potential new All-Time High (ATH).
Trump’s Presidency To Reshape Crypto Trends
There’s great anticipation among experts as they look forward to Donald Trump’s inauguration for a second term, with many predicting that the next 50 days could have a significant impact on Bitcoin’s development in 2025. In fact, Bitget CEO Gracy Chen has expressed this viewpoint.
2024’s fourth quarter saw a significant response from the cryptocurrency market regarding the inauguration and initial actions of the newly-elected president, as evidenced by its reaction to his statements and appointments, which directly influenced crypto market prices.
Currently, HBAR is making its path towards record-breaking heights. Analysts foresee a sustained rise in the token’s value, indicating a promising outlook for Hedera. With a possible new All-Time High approaching, investors are anxiously watching to see what HBAR will do next.
Now we have litecoin going in on sol, xrp, & hbar…
Crypto ETF wars.
I told you all 2025 would be wild.
— Nate Geraci (@NateGeraci) January 17, 2025
Read More
- LUNC PREDICTION. LUNC cryptocurrency
- FIS PREDICTION. FIS cryptocurrency
- XRP PREDICTION. XRP cryptocurrency
- POWR PREDICTION. POWR cryptocurrency
- EUR ARS PREDICTION
- ULTIMA PREDICTION. ULTIMA cryptocurrency
- EUR CAD PREDICTION
- Marvel Rivals Shines in its Dialogue
- Pokemon Fan’s Wife Finds Perfect Use for Their Old Cartridges
- BTC PREDICTION. BTC cryptocurrency
2025-01-17 11:34