- HBAR surged 20% this week and is up 101% from March 2024, despite a 3% daily drop.
- A potential HBAR ETF and SWIFT partnership fuel bullish sentiment, with analysts projecting a $0.46 target by March’s end.
- HBAR could be part of the US crypto reserve, adding long-term demand and legitimacy to the altcoin.
Hedera’s HBAR has caught the attention of crypto investors. After securing a partnership with SWIFT, the altcoin is making strides in a market that has struggled to gain momentum. Some analysts believe HBAR is on track to break into the top 10 cryptocurrencies by market cap.
Over the past seven days, HBAR surged 20%, outpacing Ripple’s XRP. At press time, the asset held firm at $0.24 despite a 3% daily dip. That marks a staggering 101% gain from its March 2024 levels.
Hedera’s partnership with SWIFT has strengthened its position in the crypto landscape. The collaboration aims to enhance cross-border transaction speed and transparency. This strategic alliance has led to increased investor confidence, reflected in rising trading volumes. However, in the last 24 hours, volume has dipped 40%, signaling a cooldown before the next potential rally.
The broader market sentiment also plays a role. The US crypto sector is buzzing with talk of new exchange-traded funds (ETFs). With growing institutional interest, altcoins like HBAR stand to benefit.
Can Hedera Hit $0.50?
The big question remains: can Hedera reach the $0.50 mark? Analysts at CoinCodex project a 82.49% rally by the end of March, potentially driving HBAR to $0.426. If momentum holds, the asset could touch $0.55 by fall.
One key factor is the potential for an HBAR ETF. A recent filing sparked a 20% rally, and approval could drive further gains. If this happens, HBAR may reach new highs before the year ends.
Another bullish factor is the discussion surrounding a US strategic crypto reserve. While Bitcoin and Ethereum remain the top choices, other assets like Chainlink (LINK) and HBAR could be included. If confirmed, this would provide further legitimacy and demand for Hedera.
With growing adoption, institutional interest, and speculation around an ETF, HBAR’s path to $0.50 seems increasingly possible.