{"id":647118,"date":"2024-10-09T17:00:15","date_gmt":"2024-10-09T17:00:15","guid":{"rendered":"https:\/\/www.shenyangcang.com\/?p=647118"},"modified":"2024-10-09T10:43:09","modified_gmt":"2024-10-09T10:43:09","slug":"hedera-hbar-30x-sinking-70-in-6-months","status":"publish","type":"post","link":"https:\/\/www.shenyangcang.com\/news\/hedera-hbar-30x-sinking-70-in-6-months\/","title":{"rendered":"Hedera Analyst Thinks HBAR Will Easily 30X After Sinking 70% In 6 Months"},"content":{"rendered":"

Hedera, a proof-of-stake platform, wasn’t spared from aggressive bears in early October. After HBAR, its native token, floated higher in September, the rejection of bulls in early October resulted in a double top. <\/span><\/p>\n

Overall, there is optimism that bulls will resume and push prices to new Q4 2024 highs. The pace of this growth will depend on how the market performs and whether fundamental factors around the project will prop up buyers.<\/span><\/p>\n

Will HBAR Rise By At Least 30X?<\/span><\/h2>\n

While there are cracks in the HBAR price action, considering the dump from April highs of around $0.18, one analyst on X <\/span>thinks<\/span><\/a> the token is set for major gains.<\/span><\/p>\n

\"Will
Will HBAR be at least 30X? | Source: @egragcrypto via X<\/figcaption><\/figure>\n

From his assessment, Hedera can easily score 30X in the coming sessions, mirroring the gains posted by Cardano in the last cycle. Then, ADA soared by over 170X. If HBAR is to follow the same path, the token can <\/span>easily<\/span> soar to $6, over 60X from its 2024 highs.<\/span><\/p>\n

Related Reading: Bitcoin\u2019s Non-Realized Profits Hit Negative Levels\u2014What Does This Mean for Investors?<\/a><\/div>\n

Presently, technical candlestick arrangements favor sellers. After the rally to $0.18 in April 2024, HBAR has been falling. To put the numbers into perspective, the token is down 70% but is stable after finding support in August and September.<\/span><\/p>\n

\"Hedera<\/a>
Hedera prices moving sideways on the daily chart | Source: HBARUSDT on Binance, TradingView<\/a><\/figcaption><\/figure>\n

The local resistance is the double top at around September highs. If prices break above this liquidation zone, HBAR bulls could embark on the journey to drive the coin to $0.18. In effect, this will resume the uptrend set in motion in Q1 2024 and early Q2 2024.<\/span><\/p>\n

Hedera Fundamentals Key To Driving Growth<\/span><\/h2>\n

There are fundamental factors to consider that may propel HBAR, helping the token shake off weaknesses. Early this month, Canary Capital <\/span>released<\/span><\/a> the first United States HBAR Trust.\u00a0\u00a0<\/span><\/p>\n

Like Grayscale products, including the ETHE and GBTC, the HBAR Trust allows institutional investors to gain exposure to HBAR. Accordingly, this could drive demand, lifting prices.<\/span><\/p>\n

Related Reading: ETH\u2019s Fate Hinges On $2,300: Will Ethereum Soar To $6,000 Or Dive To $1,600?<\/a><\/div>\n

In September, Hedera <\/span>launched<\/span><\/a> the Asset Tokenization studio. Through this solution, the network would be at the forefront of driving the tokenization of real-world assets (RWAs) while adhering to existing laws. <\/span><\/p>\n

Already, BlackRock, one of the world’s largest asset managers, believes tokenization will rapidly grow in the coming years, managing trillions. According to <\/span>rwa.xyz<\/span><\/a>, over $12.7 billion worth of RWAs has been tokenized. Additionally, there is interest. <\/span><\/p>\n

\"Over
Over $12.7 billion assets tokenized | Source: rwa.xyz<\/figcaption><\/figure>\n

In the last month alone, the number of RWA holders rose to 68,929, a 4% increase. Most of these assets are tokenized on Ethereum and Stellar<\/a>.<\/span><\/p>\n

Feature image from DALLE, chart from TradingView<\/div>\n","protected":false},"excerpt":{"rendered":"

Hedera, a proof-of-stake platform, wasn’t spared from aggressive bears in early October. After HBAR, its native token, floated higher in September, the rejection of bulls in early October resulted in a double top. Overall, there is optimism that bulls will resume and push prices to new Q4 2024 highs. The pace of this growth will depend on how the market performs and whether fundamental factors around the project will prop up buyers. Will HBAR Rise By At Least 30X? While there are cracks in the HBAR price action, considering the dump from April highs of around $0.18, one analyst on X thinks the token is set for major gains. From his assessment, Hedera can easily score 30X in the coming sessions, mirroring the gains posted by Cardano in the last cycle. Then, ADA soared by over 170X. If HBAR is to follow the same path, the token can easily soar to $6, over 60X from its 2024 highs. Related Reading: Bitcoin\u2019s Non-Realized Profits Hit Negative Levels\u2014What Does This Mean for Investors? Presently, technical candlestick arrangements favor sellers. After the rally to $0.18 in April 2024, HBAR has been falling. To put the numbers into perspective, the token is down 70% but is stable after finding support in August and September. The local resistance is the double top at around September highs. If prices break above this liquidation zone, HBAR bulls could embark on the journey to drive the coin to $0.18. In effect, this will resume the uptrend set in motion in Q1 2024 and early Q2 2024. Hedera Fundamentals Key To Driving Growth There are fundamental factors to consider that may propel HBAR, helping the token shake off weaknesses. Early this month, Canary Capital released the first United States HBAR Trust.\u00a0\u00a0 Like Grayscale products, including the ETHE and GBTC, the HBAR Trust allows institutional investors to gain exposure to HBAR. Accordingly, this could drive demand, lifting prices. Related Reading: ETH\u2019s Fate Hinges On $2,300: Will Ethereum Soar To $6,000 Or Dive To $1,600? In September, Hedera launched the Asset Tokenization studio. Through this solution, the network would be at the forefront of driving the tokenization of real-world assets (RWAs) while adhering to existing laws. Already, BlackRock, one of the world’s largest asset managers, believes tokenization will rapidly grow in the coming years, managing trillions. According to rwa.xyz, over $12.7 billion worth of RWAs has been tokenized. Additionally, there is interest. In the last month alone, the number of RWA holders rose to 68,929, a 4% increase. Most of these assets are tokenized on Ethereum and Stellar. Feature image from DALLE, chart from TradingView<\/p>\n","protected":false},"author":384,"featured_media":646692,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[7720,66253,87133,87138,83784,9272],"class_list":["post-647118","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-blackrock","tag-hbar","tag-hbar-price","tag-hbarusdt","tag-hedera","tag-tokenization"],"acf":[],"yoast_head":"\nHedera Analyst Thinks HBAR Will Easily 30X After Sinking 70% In 6 Months<\/title>\n<meta name=\"description\" content=\"Hedera, which aims to drive tokenization, can easily rally in the next few months. 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One analyst predicts HBAR to soar by at least 30X\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.shenyangcang.com\/news\/hedera-hbar-30x-sinking-70-in-6-months\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2024-10-09T17:00:15+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-10-09T10:43:09+00:00\" \/>\n<meta name=\"author\" content=\"Dalmas Ngetich\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.shenyangcang.com\/wp-content\/uploads\/2024\/10\/DALL\u00b7E-2024-10-07-13.12.30-A-futuristic-rocket-launching-into-space-with-flames-and-smoke-billowing-from-the-engines.-The-scene-captures-the-moment-the-rocket-is-taking-off-fro.png?fit=1792%2C1024\" \/>\n<meta name=\"twitter:creator\" content=\"@Dalmas_Ngetich\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Dalmas Ngetich\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/www.shenyangcang.com\/news\/hedera-hbar-30x-sinking-70-in-6-months\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.shenyangcang.com\/news\/hedera-hbar-30x-sinking-70-in-6-months\/\"},\"author\":{\"name\":\"Dalmas Ngetich\",\"@id\":\"https:\/\/www.shenyangcang.com\/#\/schema\/person\/08a2c46e8c02b51b9464d6e0bf2b1586\"},\"headline\":\"Hedera Analyst Thinks HBAR Will Easily 30X After Sinking 70% In 6 Months\",\"datePublished\":\"2024-10-09T17:00:15+00:00\",\"dateModified\":\"2024-10-09T10:43:09+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.shenyangcang.com\/news\/hedera-hbar-30x-sinking-70-in-6-months\/\"},\"wordCount\":485,\"publisher\":{\"@id\":\"https:\/\/www.shenyangcang.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.shenyangcang.com\/news\/hedera-hbar-30x-sinking-70-in-6-months\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.shenyangcang.com\/wp-content\/uploads\/2024\/10\/DALL\u00b7E-2024-10-07-13.12.30-A-futuristic-rocket-launching-into-space-with-flames-and-smoke-billowing-from-the-engines.-The-scene-captures-the-moment-the-rocket-is-taking-off-fro.png?fit=1792%2C1024\",\"keywords\":[\"BlackRock\",\"HBAR\",\"HBAR Price\",\"HBARUSDT\",\"Hedera\",\"Tokenization\"],\"articleSection\":[\"Cryptocurrency Market News\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2024\",\"copyrightHolder\":{\"@id\":\"https:\/\/www.shenyangcang.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.shenyangcang.com\/news\/hedera-hbar-30x-sinking-70-in-6-months\/\",\"url\":\"https:\/\/www.shenyangcang.com\/news\/hedera-hbar-30x-sinking-70-in-6-months\/\",\"name\":\"Hedera Analyst Thinks HBAR Will Easily 30X After Sinking 70% In 6 Months\",\"isPartOf\":{\"@id\":\"https:\/\/www.shenyangcang.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.shenyangcang.com\/news\/hedera-hbar-30x-sinking-70-in-6-months\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.shenyangcang.com\/news\/hedera-hbar-30x-sinking-70-in-6-months\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.shenyangcang.com\/wp-content\/uploads\/2024\/10\/DALL\u00b7E-2024-10-07-13.12.30-A-futuristic-rocket-launching-into-space-with-flames-and-smoke-billowing-from-the-engines.-The-scene-captures-the-moment-the-rocket-is-taking-off-fro.png?fit=1792%2C1024\",\"datePublished\":\"2024-10-09T17:00:15+00:00\",\"dateModified\":\"2024-10-09T10:43:09+00:00\",\"description\":\"Hedera, which aims to drive tokenization, can easily rally in the next few months. 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His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape. His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto. The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance. His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry. Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion. Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers. DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations. Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language. Dalmas is here to help make the tech easy to understand and digestible, even for beginners. The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential. This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting. Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature. When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills. 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