Hedera's native cryptocurrency HBAR has shown significant growth in price by 49% over the last week, reaching $0.23. This surge was driven by key partnerships with UK financial institutions and government initiatives.
Financial Sector Embraces Hedera Infrastructure
The price increase captured attention following the tokenized asset settlements by Lloyds Bank and Aberdeen Investments using Hedera's blockchain infrastructure. According to Bloomberg, the financial institutions processed digital representations of Aberdeen's money market fund and UK government bonds through the Hedera Hashgraph blockchain. These transactions marked a significant milestone for regulated blockchain adoption in traditional finance.
Government Partnership for AI Tools
Beyond financial services, the Hedera Foundation announced a collaboration with Accenture and EQTYLab on June 11 focused on public sector applications. The partnership aims to develop AI tools that provide greater transparency and accountability in government operations.
> The initiative addresses growing concerns about AI transparency in public administration.
By leveraging blockchain technology, government agencies could provide citizens with clearer visibility into how artificial intelligence systems reach decisions.
Technical Analysis of HBAR and Projections
HBAR's price action shows a breakout from a falling wedge pattern, typically associated with bullish momentum shifts. The move occurred on increased trading volume, indicating strong buyer interest after months of consolidation. Technical analyst STEPH IS CRYPTO identifies $0.70 as a potential short-term price target if current momentum sustains.
Hedera's recent partnerships with major financial institutions and government sector initiatives demonstrate growing real-world blockchain adoption. The combination of technical breakout patterns and fundamental developments positions HBAR for continued upward momentum.
