Summary
TLDR: Hedera’s (HBAR) price surged 100% in 24 hours after BlackRock announced tokenization of its US Treasury money market fund on Hedera. This shows growing institutional interest in Hedera’s blockchain technology for real-world asset tokenization. HBAR climbed into the top 30 cryptocurrencies with a market cap of $4.7 billion, showcasing investor confidence in the network’s capabilities. Price correction is expected around $0.13, with resistance at $0.18 – $0.20.
Key Points
1. Hedera’s (HBAR) price surged 100% within 24 hours following the announcement of BlackRock tokenizing its US Treasury money market fund on the Hedera network.
2. The integration of traditional finance with Hedera’s blockchain technology demonstrates the network’s ability to attract institutional-grade projects due to its speed, security, and low fees.
3. HBAR saw a significant price gain, climbing into the top 30 cryptocurrencies by market cap and experiencing a surge in trading volume, positioning it as the fourth-highest volume-traded altcoin behind Bitcoin, Ethereum, and Solana.