Key Takeaways:
HBAR climbed 9% to $0.074 as Hedera's daily transactions hit an all-time high of 346,943, ending a prolonged quiet stretch for the token.
Hedera averaged 291,200 transactions per day over the past two weeks, with the peak day recording 346,943, according to data cited by analyst ALLINCRYPTO. The rise in on-chain usage coincided with a broader bid across the altcoin market, where total crypto market cap rose about 0.9 percent over 24 hours.
US spot HBAR ETFs drew $848,000 in daily net inflows, lifting combined net assets to about $50.14 million, per SoSoValue. Hedera's total value locked rose above $23 million after falling to roughly $15 million in mid-August, DefiLlama data shows. The 9 percent price gain in the last 24 hours points to capital flowing into applications built on the network.
The move follows Grayscale's withdrawal of its HBAR ETF filing, which had weakened the token's narrative when $0.07 was a key resistance level. With buyers now pushing past that mark, traders are watching whether HBAR can hold gains toward analyst targets near $0.21.
On the hourly chart, HBAR climbed from about $0.067 to $0.074, forming a steady series of higher highs and higher lows. On-balance volume rose with the move, confirming that volume supported the rally, TradingView data shows.
Derivatives traders are leaning bullish. Aggregated open interest rose to about $46.6 million, indicating more positions opening as HBAR gains, while the average funding rate turned positive at about 0.0076, Coinalyze data shows. Long positions hold the upper hand.
One caution flag: HBAR's relative strength index moved above 70, a level that historically precedes consolidation rather than an immediate reversal.
A widely shared post tied Hedera to the US America250 national initiative, a commemorative use case that traders seized on as an adoption narrative. The story circulated around 08:12 UTC, with HBAR trading near $0.072 in the early morning before grinding toward $0.074 to $0.075 through the day.
Crypto analyst Rafaela Rigo flagged a potential recovery toward $0.21, which would represent a three-to-fourfold increase and push Hedera's market capitalization near $9 billion. Rigo said market improvement, stronger altcoin demand, and continued buying pressure are key factors for HBAR to approach that threshold, though larger moves hinge on broader crypto sentiment.
Hedera's market capitalization stood at about $2.9 billion, with 24-hour trading volume of $23.39 million. The token's next test is whether it can sustain momentum above $0.074, with consolidation likely given the overbought RSI reading. A pullback toward $0.07 would test whether the breakout holds.
This article is for informational purposes only and does not constitute investment advice.
