Hedera Sees 125% Surge in Trading Volume Amid Nasdaq Filing for Canary HBAR ETF

Hedera’s trading volume has experienced a significant 125% surge following Nasdaq’s filing with the US Securities and Exchange Commission (SEC) to list the Canary HBAR ETF.

Despite the increase in trading activity, the price of Hedera has hit a yearly low, declining by 10% in the last 24 hours amid the broader crypto market downturn. According to recent data, Hedera’s price has dropped over 50% from its local high and is currently hovering around $0.20.

Nasdaq Filing and Institutional Investment Opportunities

The recent spike in trading activity comes shortly after Nasdaq filed with the US SEC to list Canary’s HBAR ETF, raising the likelihood of the SEC approving the fund. If successful, the Canary HBAR ETF would provide institutional investors with an easy way to invest in Hedera.

“CANARY JUST FILED FOR AN HBAR ETF WITH NASDAQ.”

This development has sparked interest in the potential for increased institutional investment in Hedera. The HBAR Foundation recently invested in Archax’s tokenized shares of Fidelity International’s USD Money Market Fund, further strengthening Hedera’s position in institutional tokenization.

Technical Analysis and Market Outlook

As of now, Hedera’s price is hovering around $0.20, with the nearest support level at about $0.12 and resistance at $0.34. Although the Relative Strength Index stands at 48.91, indicating a neutral momentum, the MACD shows a bearish crossover, suggesting that downward pressure could continue in the short term.

Some key points to consider for investors:

• Support level: $0.12
• Resistance level: $0.34
• Relative Strength Index (RSI): 48.91
• MACD: Bearish crossover

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