HBAR surges 30% after IBM Cloud listing news
6.8 Markets HBAR jumped nearly 30% after IDTrust’s IBM Cloud listing, outperforming the market. Trading volumes soared, and the token broke resistance, though it’s still below its all-time high.
Hedera’s HBAR token has surged impressively, posting gains of 10% to nearly 30% in the past 24 hours and trading between $0.107 and $0.1217. This rally is notable as it comes amid a generally weak cryptocurrency market, with major assets like Bitcoin and Ether experiencing declines. The primary catalyst for HBAR’s rise is the announcement that the IDTrust platform, built on Hedera, has been validated and listed on the IBM Cloud Catalog. This development signals growing institutional interest and utility for the Hedera network. Trading volumes reflected the excitement, with a reported 718% day-on-day increase, reaching $619.5 million. Technical analysis shows HBAR breaking through key resistance levels and entering a supply zone, indicating potential for further gains if these barriers are surpassed. Despite the recent rally, HBAR remains well below its 2021 all-time high, and many long-term holders are still at a loss. The token’s market capitalization now stands at approximately $5 billion, placing HBAR among the top gainers in the crypto market.
