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- HBAR surges 24%, surpassing LTC and LINK, fueling speculation of a $1 target.
- Strong technicals and growing adoption position HBAR for a potential breakout.
- Nasdaq’s HBAR ETF proposal and Swift integration could drive institutional demand.
Hedera (HBAR) has gained attention in the crypto sector following a 24% increase in its value. The token has surpassed Litecoin (LTC) and Chainlink (LINK) in market capitalization, reaching $9.68 billion. With a current price of $0.2307, HBAR is drawing more interest from investors, having surged from its weekly high of $0.2253. There is ongoing debate about whether HBAR could reach $1, driven by its strong fundamentals and increasing adoption.
Source: CoinGecko
The technical analysis shows that most of the technical features support the bullish outlook persistently. HBAR is currently above the 50-day SMA indicating a solid price trend for HBAR. The 100-day and 200-day SMAs at $0.09614 and $0.1346 respectively are still below the present price.
Since HBAR is standing above these two long term moving averages, market analysts consider this as an indication of good future prospects. A recent price action shows HBAR, an incredible rally in early 2024 when the asset appreciated by 848% in a month rising from $ 0.0414 to $ 0.3928. If such circumstances are repeated, HBAR may be gearing for another massive surge in the very near term.
Hedera’s HBAR Growing Adoption
Another factor that points to its increasing value is the expansion and popularity of Hedera. The network goes on defining itself as a reliable blockchain solution that is capable of executing speedy, safe, and inexpensive operations.
The HederaCon 2025 event pointed out that the number of projects and partnerships integrated into the Hedera network is increasing at a fast pace. Such a utilization of the network would likely increase the circulation of token hence exerting more pressure on its price to rise.
Another one of the keys that may drive the subsequent HBAR price increase is the possibility of the Nasdaq spot HBAR ETF approval. This could in turn lead to the increase in the circulation of the token and possibly also make it garners the attention of the institutional investors, thereby enhancing the liquidity and credibility of Hedera ecosystem. Experts believe this single development might boost HBAR to the price around $1 by March or April 2025.
Swift has been reported to have started using technology from Hedera in several financial transactions across North America, Europe, and Asia. Dylan Brady, the chief executive of Tosho.io, said that the live trial is going to start in this year, and the large-scale implementation is going to happen in 2025.
With HBAR achieving a bullish run and the increasing support from institutions on the coin, investors can look forward on holding HBARs in the long term. If the demand continues to increase and the market conditions are positive, the $1 price may be goes in the following months.
