The HBAR price held steady on Monday, November 10, as the crypto market rebounded, ETF inflows rose, and Google Cloud added Hedera to its BigQuery datasets.
Hedera (HBAR) token surged to a high of $0.20, marking an 88% increase from its lowest level this year. This rebound boosted HBAR’s market cap to over $8 billion, pushing it into the top 20 of the largest cryptocurrencies in the industry.
### ETF Inflows Drive Demand
HBAR’s price increase coincides with stable demand for recently launched exchange-traded funds (ETFs). Data compiled by SoSoValue reveals that the Canary HBAR ETF has seen inflows exceeding $71 million since its launch. The ETF currently holds $69 million in assets, representing approximately 0.91% of its market capitalization. This trend indicates modest interest in HBAR among institutional investors.
### Google Cloud Integration Enhances Accessibility
The HBAR price also rose following Hedera’s inclusion in Google Cloud’s BigQuery public datasets. This integration enables highly scalable cross-chain data accessibility, allowing users to:
– Compare transaction costs and speeds between Hedera and other blockchain networks
– Track tokenized assets across different ecosystems
– Analyze smart contract execution and decentralized finance (DeFi) trends
– Conduct historical research on Hedera’s growth
### Challenges Remain: Network Activity Declines
Despite these positive developments, a key challenge for HBAR is stagnating network activity. For example, the stablecoin supply on the network has dropped to $127 million, down from this month’s high of $170 million. Similarly, the total value locked (TVL) in Hedera’s DeFi ecosystem has fallen to $192 million from a year-to-date peak of $400 million.
### HBAR Price Technical Analysis
The daily chart shows that Hedera’s price formed a double-bottom pattern at $0.1550, observed on October 17 and November 10. The pattern’s neckline sits at $0.2205, the highest level reached on October 28.
Key technical indicators include:
– Price has risen above the 25-day Exponential Moving Average (EMA)
– Relative Strength Index (RSI) has moved above the neutral 50 level and is trending upwards
– Formation of a bullish flag pattern, consisting of a vertical line followed by a descending channel
The combination of a double bottom and bullish flag suggests further upside potential, possibly reaching the psychological resistance level at $0.25—an increase of 32% from the current price.
However, a decline below the double-bottom support at $0.1550 would invalidate this bullish outlook and could signal additional downside risk.
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In summary, HBAR’s recent price momentum is supported by growing institutional interest, technological integration, and positive technical patterns. Yet, sustained growth will depend on increased network activity and broader adoption in the DeFi space.
https://crypto.news/hbar-price-boost-etf-inflows-google-bigquery-addition/