Hedera's HBAR ETF and Google Cloud Partnership Drive Enterprise Blockchain Integration
- Hedera's HBAR token gains traction via a SEC-approved ETF (HBR) and Google Cloud BigQuery integration, boosting institutional access and cross-chain analytics. - The Canary HBAR ETF attracted $71M in inflows, offering investors direct exposure to HBAR's enterprise tokenization and real-world Web3 infrastructure. - HBAR surged 10% post-Google integration, with technical indicators suggesting a potential 32% rally to $0.25 if key support levels hold. - Despite stablecoin supply declines and DeFi TVL halvin
Hedera's
The Canary
Hedera's collaboration with Google Cloud further highlights its strategic importance. By making its transaction data available on BigQuery, the network enables developers and businesses to analyze HBAR activity alongside leading blockchains such as
Market trends have also shifted in favor of HBAR. The token jumped nearly 10% within 24 hours after the Google integration, reaching $0.1896 on November 10, according to Bitget. Technical analysis points to a positive trend: HBAR has created a double-bottom at $0.1550 and surpassed the 25-day exponential moving average, with the RSI indicating continued upward movement, as CoinMarketCap reported. Analysts foresee a possible 32% increase to $0.25 if the price remains above key support levels.
The ETF and Google partnership are not the only growth drivers. Hedera's ecosystem is also expanding through projects like the RLUSD stablecoin, which saw its transaction volume soar by 210% in 30 days, as Bitget reported. The approval of the HBAR ETF has also attracted institutional investors, pushing the token's market cap to $8 billion and placing it among the top 20 cryptocurrencies, according to CoinMarketCap.
Despite these positive developments, some challenges persist. The supply of stablecoins on Hedera has dropped to $127 million from a high of $170 million, and the total value locked in its DeFi sector has fallen to $192 million, as CoinMarketCap noted. Nevertheless, the foundation's dedication to open-source development and ongoing infrastructure improvements positions HBAR to benefit from the growing trend of tokenization. As McClurg remarked, "Hedera is at the forefront of moving from concept to real-world implementation," with
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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