HBAR Surges 26% as Institutional Demand, ETF Launches, and On-Chain Activity Drive Momentum

HBARUSDT has experienced a significant price increase of 26.22% in the last 24 hours, with the current price at $0.29692 on Binance. This surge is primarily attributed to strong institutional interest, including Grayscale's addition of HBAR to its smart contract platform fund and the launch of the first staking Hedera ETF on the SIX Swiss Exchange. Additional bullish momentum has been driven by substantial HBAR withdrawals from exchanges, increased on-chain buying pressure, and Hedera Foundation's participation in the Acacia Project led by the Reserve Bank of Australia. The market has also responded positively to anticipation around a potential spot HBAR ETF approval in the U.S. and growth in Hedera's stablecoin ecosystem.

Currently, HBARUSDT is trading at $0.29692 with a 24-hour open of $0.23524, reflecting a 26.22% price increase and high trading volumes, positioning Hedera among the top 15 cryptocurrencies by market capitalization.