Hedera (HBAR) has captured market attention with a remarkable 12% daily surge, reaching $0.3988. This upward trajectory places HBAR just 10% short of its all-time high of $0.4323, marked in 2021. The recent rally highlights bullish momentum, spurred by major announcements from Coinbase and growing optimism around President-elect Donald Trump’s crypto policies.
What’s Driving HBAR’s Rally?
At press time, Hedera trades at $0.3796, reflecting a weekly growth of 38.37% and a yearly increase of 30.19%. With a market cap of $14.53 billion, the token has climbed to the 14th position in global rankings. A staggering 111% hike in 24-hour trading volume to $2.72 billion underscores rising investor interest.
Coinbase’s recent announcement has been a pivotal driver for HBAR’s surge. The exchange revealed that Hedera is now available for custody on Coinbase Prime. This integration bolsters institutional trust, aligning with Hedera’s vision of enterprise-grade blockchain solutions.
Hedera (HBAR) is now available for custody on Coinbase Prime! https://t.co/U7xlCjUvmw.
— Coinbase Institutional 🛡️ (@CoinbaseInsto) January 16, 2025
Availability of this asset may be restricted based on custodian entity and customer jurisdiction. pic.twitter.com/T3gd9qjw1c
Trump’s Crypto-Focused Presidency Fuels Market Optimism
President-elect Donald Trump’s pro-crypto stance has also buoyed market sentiment. His strategic Bitcoin reserve plan, discussed at the Bitcoin 2024 Conference, highlights potential adoption of crypto assets like USDC, Solana (SOL), and XRP (XRP) as part of a national reserve. These initiatives have injected fresh optimism into the crypto market, with Hedera emerging as a key beneficiary.
HBAR’s Path to a New ATH
Hedera has broken out of a month-long consolidation below $0.33, surpassing the critical 0.61 Fibonacci level. Analysts predict a target of $0.57, contingent on the daily close above $0.37. If HBAR breaches $0.46, a rapid ascent to new highs is expected.
Trump’s upcoming inauguration could redefine crypto trends, with analysts forecasting significant growth for Bitcoin and altcoins like Hedera. Gracy Chen, CEO of Bitget, remarked on the market’s heightened sensitivity to Trump’s policies, setting the stage for a bullish 2025.
As HBAR inches closer to a new ATH, investor anticipation remains high, signaling a promising trajectory for the token.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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