Crypto
HBAR Price Surges as ETF Inflows Return
Hedera's token price has been steadily climbing since its mid-August lows near $0.065, currently sitting at around $0.078-$0.08.
The recent surge in HBAR's price can be attributed to the return of ETF demand, with Canary's spot Hedera ETF seeing about $864K in net inflows on August 15.
This is not an isolated incident, as the fund has seen just one day of net outflows since its launch, making the recent buying trend all the more interesting.
The ETF holds around $56.9 million in net assets, accounting for roughly 1.7% of HBAR's circulating supply.
The price rally is not guaranteed, but a noticeable chunk of HBAR is now with an investment product that has mostly attracted money rather than losing it.