The Hedera coin (HBAR) is up over 98% in the last 30 days, one of the strongest gainers on the crypto market. The boom comes as the crypto market overall is rallying, led by Bitcoin reclaiming $119,000 for a short period. The approval of several pro-crypto bills last week is also fueling the rally, and has analysts projecting a further surge for altcoins like HBAR. Should the Hedera coin continue this rally path, it could target and surpass its ATH sometime in August.
Why is Hedera (HBAR) Spiking in Price?
Hedera HBAR is also spiking after a promising development on the Hedera crypto ledger. Several financial heavyweights, including BlackRock & Fidelity, added representative tokens to HBAR’s ecosystem. The institutional interest in Hedera sent HBAR skyrocketing, making it one of the best crypto performers in July’s bullish market. In addition, HBAR’s market capitalization has restored the yearly peak levels, exceeding $12 billion for the first time since last January.
Several crypto analysts point to a rising volume profile during the breakout as further confirmation of buying conviction. Currently, HBAR is consolidating just above $0.27, with prior resistance zones at $0.20 and $0.176 now serving as support. However, continuing the recent 98% rally would push the HBAR cryptocurrency to around $0.54, just pennies away from its $0.5701 ATH. That would also mark the first time HBAR has sat above $0.50 since 2021.
2025: The Year of Crypto
The year 2025 is best characterized as the year of crypto innovation and growth. The industry has taken center stage on a federal level, with various pro-crypto laws and regulations passed in the last few months. With Bitcoin (BTC) back above $119,000 and the GENIUS Act being approved, coins like Hedera (HBAR) will continue to garner attention and hike in value.
This can also be seen in HBAR’s trading volume, which is up over 30% to $797.84 million in the last 24 hours alone. Furthermore, crypto wallets holding between 1 million to 10 million HBAR crypto tokens are rising in numbers. According to Hedera Watch, this metric gradually rose since October 2024, with crypto whales holding over 10 million HBAR tokens coming out the most confident in the altcoin’s long-term success.
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Should HBAR whales remain active in this bull run, expect the Hedera cryptocurrency to continue its surge in August, perhaps to $0.50.
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