Hedera’s native token HBAR recorded slight gains during the trading session from September 11 to 12, rising from $0.237 to a peak of $0.245 before settling at $0.240. This movement indicated increased institutional involvement, closely tied to new developments regarding potential exchange-traded products.
Corporate momentum grew after Grayscale Investments announced plans for a possible HBAR trust, and the Depository Trust and Clearing Corporation (DTCC) added a Canary HBAR ETF filing to its regulatory records. The listing, under the proposed ticker HBR, was accompanied by similar submissions for Solana and XRP, highlighting Wall Street’s growing interest in digital assets beyond Bitcoin.
Traders responded quickly to the news. Technical resistance at $0.245 prompted profit-taking, while $0.240 emerged as a vital support level for institutions, aided by late-session volume spikes that surpassed 17 million tokens. Analysts suggest that if momentum persists, a test of the $0.25 psychological barrier could be in play.
However, industry experts warn that DTCC inclusions are just initial steps and do not equate to SEC approval. Regulators continue to focus on addressing market manipulation risks and establishing standards for investor protection regarding non-Bitcoin crypto assets, leaving the timeline for any HBAR-based ETF uncertain. Nevertheless, these filings have placed Hedera firmly on Wall Street’s radar, attracting institutional interest amidst ongoing regulatory uncertainties.
Market Data Reveals Institutional Trading Patterns
- Intraday trading established a $0.012 range representing 4.24% volatility between the session high of $0.2456 and low of $0.2335.
- Primary upward momentum occurred during the 21:00-05:00 trading window as HBAR advanced from $0.235 to peak levels near $0.245.
- Volume activity averaged 54.7 million during key breakout periods, exceeding the 24-hour average of 50.1 million and indicating institutional participation.
- The $0.240 price level demonstrated strong institutional support with high-volume defensive trading throughout the session.
- Selling pressure intensified near $0.245 on elevated volume, suggesting coordinated profit-taking by institutional holders.
- Late-session volume surge of 17.08 million at 11:32 triggered systematic selling and price consolidation around support levels.
Disclaimer: Parts of this article were generated with the assistance of AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see RialCenter’s full AI Policy.
Leave a Reply