Trading volumes for HBAR, the native cryptocurrency of Hedera Hashgraph, have witnessed a significant surge, with daily turnover climbing 54% to reach $186 million. Market data from September 7 indicates that institutional interest in HBAR is on the rise, as trading volumes spiked to 67.40 million units—more than double the 24-hour average of 27.33 million units. This increase comes despite general market volatility, with HBAR maintaining a price of around $0.21.
Analysts are currently optimistic about HBAR’s future, suggesting the potential for an 80% price increase from its current levels. A bull flag pattern, identifiable on the daily price chart, has raised expectations of a continued upward trend. This technical formation shows converging highs and lows, indicating a period of consolidation that could lead to a breakout. A confirmed breakout above established resistance could set the stage for a move toward the $0.40 mark.
The general market sentiment appears to remain bullish, as indicated by the long-short ratio for HBAR, currently at 1.55—suggestive of more traders anticipating a price rise. The support level at $0.22 has helped stabilize prices following recent fluctuations, fueled by a noticeable influx of buyers.
On another front, the U.S. Securities and Exchange Commission (SEC) has delayed its decision regarding the HBAR Exchange-Traded Fund (ETF) proposal filed by Canary Capital. The SEC has extended its review period by another 60 days, now setting November 8 as the new deadline. The proposal has faced previous delays in April and June, with the SEC seeking additional feedback before proceeding. This ETF application has garnered attention since its initial filing by Nasdaq in February.
In related news, the presale for PepeNode, a new “mine-to-earn” meme coin, is nearing the $1 million mark, raising $868K to date. With a unique concept that combines meme culture with economic incentives for users to set up virtual mining rigs, PepeNode is quickly becoming a notable project in 2025. The presale offers an attractive 1,618% annual percentage yield (APY) for staking its tokens.
As market conditions remain volatile, investors are encouraged to remain vigilant and consult financial professionals before making investment decisions.
