- Hedera’s HBAR posts strong intraday gains despite a weekly downturn.
- Analyst Profit Demon signals a potential major rebound with multiple upside targets.
- The launch of Wrapped Bitcoin (WBTC) on Hedera marks a major expansion of its DeFi infrastructure.
Hedera (HBAR) is currently trading at $0.1442, an 11.35% increase. The 24-hour trading volume climbed to $276.91 million, reflecting a 19.47% uptick. Despite this strong daily momentum, the token remains 2.13% lower on the weekly timeframe, signaling a market still seeking sustained direction.
Descending Channel Reaches Critical Point
Crypto analyst Profit Demon noted that HBAR is currently testing the lower boundary of a descending channel on the weekly chart. According to the analysis, a technical rebound from this level could trigger a broader bullish trajectory, placing potential upside targets at $0.155, $0.23, $0.30, $0.40, and even $0.60. Market watchers are now observing whether the current surge can evolve into a confirmed reversal.
WBTC Launches on Hedera Network
Adding momentum to the market narrative, Hedera confirmed that Wrapped Bitcoin (WBTC), the most widely used tokenized form of Bitcoin, is now officially live on its network. The expansion follows collaboration with key ecosystem partners, including BitGo, BiT Global Trust, and LayerZero Labs.
The integration represents one of Hedera’s most substantial steps toward strengthening its institutional-grade infrastructure. WBTC currently dominates the tokenized Bitcoin segment, holding more than 126,000 BTC in custody and maintaining a market capitalization exceeding $13 billion. With approximately 65% of the tokenized Bitcoin share on Ethereum, WBTC stands as the market standard for Bitcoin representation across DeFi platforms.
Bringing WBTC to Hedera gives the network access to a fully collateralized asset backed 1:1 by Bitcoin held in secure custody. The asset emphasized that this ensures transparency and preserves the credibility that positioned WBTC as an industry benchmark.
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WBTC Boosts Liquidity Across Hedera DeFi
The arrival of WBTC introduces a new depth of liquidity to the token’s evolving DeFi ecosystem. Developers now gain access to a trusted, high-value asset for constructing advanced financial applications, while users can engage in activities such as lending, swapping, and yield optimization with Bitcoin-backed instruments.
Cross-chain connectivity is supported through Stargate Finance, and SaucerSwap Labs has already launched initial trading pools for WBTC. The asset underscored that its architecture, designed to eliminate MEV and front-running while maintaining predictable low fees, positions the network as a compelling environment for BTC-powered decentralized finance, often referred to as BTCFi.
For Bitcoin holders, the integration marks a step toward enabling BTC to operate more securely and productively within Hedera’s expanding ecosystem, opening pathways to a more efficient digital asset experience.
Also Read | Hedera (HBAR) Rockets 10% in 24H, Could $0.40 Be Next?
