The Hedera token (HBAR) has risen over 70% in the last 30 days, attracting the attention of analysts and traders. Let's explore the key reasons behind this growth.
Growth of Stablecoins on Hedera
One of the key factors for Hedera's success is the significant growth of stablecoins on the platform, particularly USDC. The network now hosts over $212 million in native USDC, demonstrating a rapid growth rate exceeding 146% month-over-month. This growth began before the Genius Act was passed in the U.S. and continued afterward, increasing by 14% in just a week.
Accessibility of HBAR for Retail Traders
With the recent addition of HBAR to the Robinhood platform, many new retail traders gained access to the token. This news positively impacted the price of HBAR, rising from $0.24 to $0.27. Notable investor Kevin O’Leary also mentioned HBAR as one of his top picks, contributing to increased interest in the token.
Institutional Investments in Hedera
The third significant factor is the growing interest from institutional investors. Recently, Hedera conducted one of the first-ever tokenized forex trades in the U.K., utilizing tokenized GBP. This opens up new opportunities for high-volume use cases on the platform. Additionally, several firms, such as Grayscale and Canary, have filed applications for ETFs related to Hedera, which could further increase its popularity.
In summary, although HBAR's recent rally may seem surprising, many factors indicate that the token could be a significant player in the market by 2025. We'll keep an eye on developments.
