Canary’s Hedera crypto ETF has recently increased its holdings to 465 million HBAR tokens, which are currently valued at approximately $64.7 million. This uptick in assets follows a notable shift, as inflows into the ETF turned positive on December 9, with $762,250 entering. However, this figure represents a significant decline compared to the prior week’s inflow of $4.2 million.
Despite the ETF’s growth in HBAR holdings, concerns are mounting within the decentralized finance (DeFi) landscape. Total Value Locked (TVL) on the Hedera network has diminished by 20% over the past month, while the supply of stablecoins on the platform has been halved since November. This downturn in DeFi activity has contributed to a bearish trend in HBAR’s price, which has fallen by 5% in the last 24 hours after breaching a critical support level at $0.1371.
An analysis of HBAR’s price movement reveals it is situated within a descending channel, pressing against the lower boundary. Historically, previous touches on this trendline have led to at least short-term rebounds, indicating some buyer defense at this level. However, the broader trend suggests a continued downward trajectory. The Relative Strength Index (RSI) currently sits around 38, indicating weak momentum but not yet reaching oversold conditions, suggesting a potential for a relief bounce.
If HBAR can maintain its position above this channel support and rebound past the $0.140 mark, a move towards the mid-channel region at approximately $0.154 may be feasible, although substantial resistance lies further up at the channel’s upper boundary. Conversely, failing to uphold this lower trendline could expose HBAR to declines toward $0.115 or even $0.105, leading to an accelerated downtrend.
Amidst the challenges facing Hedera and similar altcoins, one standout project is gaining attention: Bitcoin Hyper. In stark contrast to Hedera’s slowing ETF inflows and declining DeFi engagement, Bitcoin Hyper is positioning itself as a promising Layer 2 solution built on the Solana Virtual Machine. This project offers smart contract capabilities, fast transaction processing, and significant scalability, along with a Canonical Bridge to facilitate seamless Bitcoin transfers across various networks.
Interest in Bitcoin Hyper is surging, with its presale surpassing $29 million, marking it as one of the largest fundraising efforts of the year. Analysts are optimistic, suggesting a potential 100x increase once listings commence. A recent audit by Coinsult revealed no vulnerabilities, further enhancing investor confidence. HYPER tokens will support staking, governance, and network fees, providing presale participants with opportunities for returns as high as 40% annual percentage yield (APY). As the full platform is set for release in 2026, early investors are positioning themselves for future growth.
In summary, while Hedera faces a backdrop of declining ETF inflows and weakened DeFi activity, Bitcoin Hyper emerges as a beacon of innovation and opportunity, attracting significant investor interest in a challenging crypto landscape.
