HBAR cryptocurrency has captured investors' attention, with a nearly 160% rise over the past week. The main driver of this surge is linked to rumors regarding Brian Brooks' potential appointment as the next SEC Chair.
HBAR Price Surge
HBAR's price has jumped 30% in the last 24 hours, reaching $0.144. This rapid increase is driven by rumors surrounding Brian Brooks, garnering significant attention for the token and substantial growth in trading activity.
Brian Brooks' Role and Speculations
Speculations about replacing Gary Gensler as SEC Chair with Brian Brooks have gained traction following hints from Donald Trump. Brooks, former CEO of Binance US and twice nominated for Comptroller of the Currency, could lead to a more crypto-friendly regulatory environment if appointed.
Crypto Market Outlook and Hedera
Amid Brooks' appointment rumors, HBAR trading volume soared to $2.06 billion, and its market cap grew to $5.3 billion. Platforms like Kalshi reflect Brooks leading with 48% in the predictions for SEC Chair. HBAR, up 171% for the month, continues to captivate investors' attention.
HBAR's success highlights the market's reaction to political developments and potential regulatory changes in the cryptocurrency sector. These events strengthen Hedera's position as a robust public blockchain network. Investors are keenly watching for further updates on Brooks' appointment and the ETF filing.
