Cryptocurrency Hedera's Price Increased More Than 12% Within 24 hours
Portfolio Pulse from Benzinga Insights
Hedera's cryptocurrency, HBAR, saw a 12.63% increase in price over the past 24 hours, reaching $0.11. This rise is part of a positive trend over the last week, with a 2.0% gain from its previous price. Despite a 16.0% drop in trading volume and a slight decrease in circulating supply, HBAR's market cap ranks #27 at $3.97 billion. The coin's all-time high remains at $0.57.

May 03, 2024 | 7:02 pm
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Hedera's HBARUSD experienced a significant price increase of 12.63% in the last 24 hours, reaching $0.11, amidst a general positive trend and a slight decrease in trading volume and circulating supply.
The price increase of HBARUSD is significant, indicating strong investor interest and market momentum. Despite the decrease in trading volume, which could suggest a consolidation phase, the overall positive trend and the asset's performance over the past week contribute to a bullish outlook in the short term. The slight decrease in circulating supply could also be contributing to the price increase by creating a perceived scarcity. However, the market's volatility, as indicated by the use of Bollinger Bands in the analysis, suggests that investors should remain cautious.
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IMPORTANCE 90
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