Hedera Price Plunges After Unusual Move, IBM Partnership Still a Question Mark
Hedera's price plummeted on Tuesday, September 29, 2026, after experiencing a 27% surge the previous day. The coin fell from $0.12212 to $0.10283, wiping out three quarters of its gains from Monday's rally. This unusual move comes without any new announcements from Hedera or its parent company, The Hashgraph Group.
The IBM announcement on September 23 had triggered the price increase, with IDTrust being admitted to the IBM Cloud Catalog and receiving Silver Partner status. However, it is essential to note that a partnership listing in a cloud provider's catalogue does not necessarily translate to immediate revenue. The market prices the hurdle of distribution immediately, but the actual revenue takes time to materialize.
On Tuesday, 156.2 million HBAR changed hands on Kraken, compared to 311.1 million on Monday, indicating orderly profit taking rather than forced liquidation. This suggests that fewer market participants are selling with conviction into a market from which previous day's buyers have vanished.