HBAR crypto price prediction as Hedera stablecoin market cap surges
Hedera Hashgraph (HBAR) price dropped for four consecutive days, reaching its lowest level since April 22. It has dropped by 15% from its highest point last week.
HBAR dropped as most cryptocurrencies pulled back, with their market cap dropping from over $3 trillion last week to $2.9 trillion today. Top American indices like the Dow Jones and the S&P 500 dropped by over 0.50%.
This price action reflects caution from market participants ahead of the Federal Reserve's interest rate decision. Economists widely expect the central bank to hold rates steady at 4.50% as it waits for further inflation data. Any signal of a future rate cut would likely act as a bullish catalyst for HBAR and the broader crypto market.
There are signs that activity in the Hedera Hashgraph chain is rising. DeFi Llama data shows that the stablecoin market cap in the chain has jumped to a record high of $130 million, a big increase from the year-to-date low of $37 million. Circle's USD Coin (USDC) has a 99.8% market share in Hedera's chain. This increase is a sign of robust in the network.
Hedera stablecoin market cap | Source: DeFi Llama
Another potential catalyst for HBAR is the SEC's upcoming tokenization roundtable on May 12, which will feature representatives from major firms such as Franklin Templeton, BlackRock, and Invesco. The meeting will focus on regulating tokenized assets.
Hedera has emerged as one of the top chains in the real-world asset tokenization industry. For example, it partnered with Tokeny Solutions last week. Tokeny provides an onchain operating system for compliant asset tokenization.
HBAR price chart | Source: crypto.news
On the daily chart, HBAR rebounded on April 9, breaking above the upper side of a falling wedge pattern. It then rose to a high of $0.2020, which aligns with the 100-day Exponential Moving Average.
The bars of the Awesome Oscillator have pointed downwards and are about to cross the zero line. Also, the Relative Strength Index has formed a double-top pattern at 61.6, a sign that it is about to drop further.
Additionally, the MACD lines have made a bearish crossover. Taken together, these signals suggest that HBAR may continue to decline, with sellers targeting the year-to-date low of $0.1250. If reached, this level would form a double-bottom pattern, a potential reversal setup.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Hill
27 minutes ago
- The Hill
Trump's plan for White House ballroom sparks outrage from his critics
President Trump's plans to add a massive $200 million ballroom to the White House is angering critics, who see him moving forward with the long-sought project as part of his desire to leave a lasting mark not only on the office of the presidency but the first house as well. The construction of the ballroom, the cost of which the White House says will be covered by Trump and other donors, will begin in September. Trump is also paving the White House Rose Garden (though the rose bushes will be saved), which the White House says is necessary so people can walk more easily for events held in the space. And he's added his personal gold touch to the Oval Office. Trump says he sees the ballroom as a way to add to his legacy. And while detractors say his decorative and more substantial changes are out of touch and ostentatious, he says they are necessary. 'I always said I was going to do something about the ballroom because they should have one,' he told reporters Thursday. 'So we'll be leaving it, it will be a great legacy project. And, I think it will be special.' When asked if any government funds will be used to construct the 90,000 square foot facility, Trump replied, 'no government dollars, no.' The White House said the sprawling event space will be built adjacent to the White House where the East Wing sits. The goal is to complete construction before the end of Trump's term in January 2029. Trump's vision is for a space where he and future presidents can host state dinners, large gatherings with business leaders and other ritzy parties or functions. 'We've been planning it for a long time,' Trump said. 'They've wanted a ballroom at the White House for more than 150 years. There's never been a president that was good at ballrooms. I'm really good.' Democrats and regular Trump critics offered a sharp pushback on his plans. 'This is what DOGE was all about, folks,' Senate Minority Leader Chuck Schumer (D-N.Y.) said in a video posted to social media hours after the White House announcement, referring to the president's Department of Government Efficiency. 'Cutting things from you, and giving it not to some place that needed it, giving it to the big shots who run the show, Donald Trump at the top of the list.' Others suggested Trump and his White House were planting an intentional distraction. 'You gotta hand it to MAGAs, for about a week they really did have everyone convinced they cared about kids and The Epstein Files,' journalist and pundit Seth Abramson wrote on social platform X. 'On to more important things! Did you hear Trump is building a $200M ballroom at the White House? Wowee!' The White House pushed back on those criticisms in a Friday statement to The Hill, saying 'as President Trump has said, for over 150 years, many presidents, administrations, and staff have all wanted a ballroom, and now we have a president who will accomplish building it.' 'President Trump is the best builder and developer in the entire world and the American people can rest well knowing that this project is in his hands,' a West Wing spokesperson said. 'Many future presidents and American citizens will enjoy it for generations to come.' The president, a longtime real estate mogul who is known for a hands-on approach in the design and construction of his resorts, golf courses and skyscraper office buildings, has long lamented the lack of sufficient event space at the White House. 'When it rains it's a disaster, and the tent's 100 yards, that's more than a football field away from the main entrance,' Trump said as part of his remarks to the press about the project. 'And people are shlopping down to the tent; it's not a pretty sight. The women with their lovely evening gowns, their hair all done, and they're a mess by the time they get [there].' There is longstanding precedent for presidents and first ladies putting their spin on the White House and its grounds. President Harry Truman oversaw a massive renovation from 1948 to 1952 that required he and his wife to move into the Blair House at the time and saw the White House completely gutted. Former first lady Jackie Kennedy, however, championed the historic preservation of the home and advocated that extreme renovations require oversight from the Committee for the Preservation of the White House. 'Every president and first family does make a mark on the White House — they already are a part of history and that snapshot in time,' said Anita McBride, former chief of staff to then-first lady Laura Bush. 'Since the cornerstone was laid, there have been additions, there have been changes that, at the time those happened, raised concerns.' The White House Historical Association welcomed Trump's planned ballroom. 'The history of the White House has evolved over 233 years since the cornerstone was laid in 1792. The South Portico, the North Portico, the East Wing, the West Wing, and the Truman Balcony all raised concerns at the time — but today, we can't imagine the White House without these iconic elements,' Stewart D. McLaurin, president of the association, told The Hill. He added, 'Since our founding by First Lady Jacqueline Kennedy in 1961, we have supported and partnered with every president and first lady caring for and adding to the White House and its Collection. We work to preserve the history of this remarkable museum, home, and office for generations to come.' Some agree with the president that a bigger events space at the White House is long overdue. 'I can understand why someone who thinks on a grand scale, as obviously President Trump does, would want this ballroom added,' said Barbara Perry, a presidential historian and co-chair of the Presidential Oral History Program at the University of Virginia's Miller Center. 'That being said, the optics for people who disagree with this president, it will probably have an impact on how they view this.' McBride agreed that the tents on the lawn, which have been constructed during more recent administrations, are not ideal. 'That doesn't come without challenges, putting up staging, putting up a covered structure, getting people to the actual location; dealing with inclement weather. And you're not really having your event in the White House,' she said. 'So you can see where that makes sense.' There are lingering questions about what the new ballroom location will mean for the staffers who work in the East Wing, which is where first lady's staff works. The East Wing is also where tours of the White House for the public are conducted. 'Betty Ford always called the East Wing the 'heart' of the White House,' McBride said. 'All the business and policy gets done in the West Wing, that's critically important. But the heart of the White House is the East Wing. And so what, what will be the new East Wing?' Others see the construction of an opulent addition to the president's residence as a matter of bad timing and poor optics given sluggish jobs reports and fears about how global tariffs might hurt the U.S. economy. 'This isn't something that's going to make or break another election, but it does add another page to the catalog of hypocrisy that these people read from when they want to lecture Americans about fiscal responsibility,' said Antjuan Seawright, a Democratic political strategist. 'It's a visible middle finger to working class Americans, many of whom voted for him.'
UPI
28 minutes ago
- UPI
India responds to U.S. penalty over Russia oil
Aug. 2 (UPI) -- Indian officials confirmed Saturday the country is not altering policy and will continue buying oil from Russia, despite threats of a financial "penalty" from U.S. President Donald Trump. India's government has not given any directive to the country's oil refiners to stop or reduce the amount of Russian crude oil, the New York Times reported, citing two senior Indian officials. Trump earlier this week said he would impose a financial "penalty" on the South Asian country if it did not cut back on its reliance on Russian oil. The sanction would be in addition to a 25% American tariff on Indian goods. The president did not elaborate on the extent of the additional financial "penalty." "Remember, while India is our friend, we have, over the years, done relatively little business with them because their Tariffs are far too high, among the highest in the World, and they have the most strenuous and obnoxious non-monetary Trade Barriers of any Country, " Trump said in a Truth Social post. "Also, they have always bought a vast majority of their military equipment from Russia, and are Russia's largest buyer of ENERGY, along with China, at a time when everyone wants Russia to STOP THE KILLING IN UKRAINE." Trump on Friday said it was his understanding "that India is no longer going to be buying oil from Russia. That's what I heard. I don't know if that's right or not. That is a good step. We will see what happens." Indian officials told the New York Times the country has "not given any direction to oil companies" to change direction. Publicly, Indian officials said they are considering options without confirming or denying the Times report. "We have taken note of the sanctions, and we are looking into it," Ministry of External Affairs of India spokesman Shri Randhir Jaiswal said during a news conference Friday in New Delhi. "On the other question about proposed oil sale, I would say that I have no comments to offer in this particular matter. As far as sourcing our energy requirements is concerned, you are well aware of our broad approach, meaning our overall approach and stance. We take decisions based on the price at which oil is available in the international market and depending on the global situation at that time. As for the specifics of your particular question, I am not aware of it. I don't have details of these specifics." Jaiswal also attempted to avoid further escalating the situation. "I would also like to underline this particular point that this is a sensitive and complex case and therefore, I would urge all to be mindful that media reports based on speculation and misinformation are not helpful at all," he told reporters. "In so far as the reports claiming that there has been certain developments etc., such reports are incorrect. Please wait for an update from us, this is a sensitive matter, and we urge all sides to stay away from misinformation."
CNBC
28 minutes ago
- CNBC
How this week's avalanche of news from Washington to Wall Street kept investors guessing
It was a dizzying week on Wall Street. The S & P 500 closed this past Monday at a record high and then went on a four-session losing streak. Friday was particularly unsettling as terrible jobs data slammed the market and triggered President Donald Trump . Trump started the day by slamming Federal Reserve Chairman Jerome Powell for not cutting interest rates on Wednesday. He accused the Fed of cutting rates at the end of last year to help elect Kamala Harris. Later in the day , the president used similar reasoning when firing the head of the Bureau of Labor Statistics, which puts out the employment report. Trump accused BLS Commissioner Erika McEntarfer, a Biden appointee, of negatively manipulating the numbers during his presidency and inflating them before Election Day to help Harris. Also on Friday afternoon, Fed Governor Adriana Kugler resigned . The Biden appointee didn't give a reason. As if all that were not enough, just before his self-imposed Aug. 1 deadline, Trump set new "reciprocal" tariff rates to go into effect on Aug. 7. The president also on Friday ordered two nuclear submarines "to be positioned in the appropriate regions" after a warning to the U.S. from Russian official Dmitry Medvedev. On Monday, Medvedev said that "each new ultimatum" about the Ukraine conflict is a "threat and a step towards war" between Russia and the U.S. .SPX .IXIC 5D mountain S & P 500 and Nasdaq performance this week It was no wonder the S & P 500 lost more than 1.5% on Friday, in a session even further pressured by a drop in tech stocks following Amazon 's post-earnings stock decline of more than 8%. For the week, the broad market index lost nearly 1%, ending a two-week win streak. The tech-heavy Nasdaq was the big loser Friday, dropping more than 2.2% on the session and more than 2% for the week. It, too, snapped two straight weekly gains. As bad as the calendar page turn to August was on Friday, the S & P 500 and the Nasdaq wrapped July on Thursday with gains of 2.2% and 3.7%, respectively. The S & P 500 completed a three-month winning streak, while the Nasdaq extended its monthly run to four straight. It was certainly a busy week, jam-packed with macroeconomic updates, trade negotiations, a Fed rate decision — and, of course, an earnings onslaught, with four of the Magnificent Seven reporting. Trump trade The week started out with the U.S. on Sunday striking a trade deal with the European Union. South Korea slipped in under the wire before the president's Friday deadline. Both trade partners are now subject to a 15% tariff on exports to the U.S., down from the respective 30% and 25% rates in place prior to the agreements. The deal with the EU will also see the trading bloc purchase $750 billion in U.S. energy, while investing an additional $600 billion into the U.S. The deal with South Korea included an agreement for $350 billion in U.S. investments. Negotiations with China remain ongoing, with the tariff deadline being pushed to Aug. 12. Mexico was granted a 90-day extension of current 25% rates following a discussion with Mexican President Claudia Sheinbaum. Canada, however, was slapped with a 35% tariff rate . As for the trade partners that have yet to strike a deal, new rates were announced last Thursday evening and are set to take effect this coming Thursday. Weak jobs Just hours after the new tariff rates were announced, the Friday jobs report was released. The July nonfarm payroll growth of 73,000 positions fell way short of the 100,000 additions economists had expected. Worse yet, the June and May readings were both revised significantly lower for a combined 258,000 less jobs than originally reported for those two months. All of that, besides setting Trump off, put a September rate cut back on the table, according to the CME FedWatch tool. The market odds of a cut flipped from about 38% on Thursday to nearly 83% on Friday. Shortly after the weak jobs report, Jim Cramer said that while he has been a big backer of Powell, this number says: "You didn't need to wait" to cut rates. Warmer inflation The day after the Fed held rates steady, the central bank's preferred measure of inflation — the personal consumption expenditure (PCE) price index — was released Thursday morning. Both the headline PCE reading, as well as the core rate excluding food and energy prices, came in one-tenth hotter than expected on a year over year basis, seemingly supportive of the Fed's decision to leave rates unchanged. However, the negative jobs data clouds the picture a bit and will force the Fed to weigh the importance of both parts of its dual mandate — maintaining price stability, around their target 2% inflation rate, and fostering maximum employment. The former currently requires more restrictive or higher rates, given that inflation remains above target, while the latter points to less restrictive or lower rates, because central bankers don't want to see any material increases in joblessness. Economic growth Part of the rationale for holding rates steady came from a strong advance second quarter reading on the economy, which was released Wednesday morning just hours before the Fed's July meeting wrapped up. The seasonally adjusted annual GDP growth rate of 3% was much better than the 2.3% advance that was expected. While the economy managed to chug along during the April to June period, despite all the fear and uncertainty caused by trade disputes, it's already August. The GDP is a backwards looking data set. That's why more weight is put on the monthly updates noted above, relating to inflation and the labor market — and of course, the most real-time source of data we can get, earnings. Club earnings So, with that, let's take a look at how earnings went this week for the Club. We heard from Starbucks on Tuesday evening, Meta Platforms and Microsoft on Wednesday evening, Bristol Myers Squibb on Thursday morning, Amazon and Apple on Thursday evening, and Linde on Friday morning. Starbucks : Though the coffee giant reported mixed quarterly results, we heard enough positives to confirm that CEO Brian Niccol's turnaround remains firmly on track. Meta Platforms : The social media powerhouse delivered an absolute blow out quarter, with the only thing better than the results being the guidance. Bristol Myers : The drugmaker delivered a solid quarterly beat and outlook raise. However, with the Cobenfy narrative — at the core of our investment thesis— going from being pretty straightforward to a show-me story, investors aren't giving the company the benefit of the doubt. We trimmed our price target following the release. There are also the added questions marks around Trump push this week for lower prescription prices from Bristol and 16 other major drugmakers, including Club name Eli Lilly, which reports earnings next week. The threat of sector-specific pharma tariffs remains in play. Amazon : Overall the tech giant reported a solid quarter. However, shares sold off as investors took issue with Amazon Web Services (AWS) failing to deliver the same type of cloud revenue upside as rivals Microsoft Azure and Google Cloud. Operating income guidance for the current quarter was also a bit lower than expected, though that has historically proven conservative. Ultimately, we think the concerns are overblown and think the pullback represents a buying opportunity . Apple : The iPhone maker reported a very respectable quarter. However, when taking into account the price action of the stock this year alongside the reaction to the results, it's clear that investors are not ready to give management much credit until they deliver more clarity about the company's AI strategy. It was encouraging to hear CEO Tim Cook say he's open to M & A to help with that. Linde : The industrial gas stalwart delivered solid quarterly results in a difficult operating environment, demonstrating the company's resiliency no matter the backdrop. Moreover, management raised the low end of its full-year earnings guidance, despite noting that the high end of the range already assumes an economic contraction. It's another important week of corporate earnings ahead, with about a quarter of S & P 500 companies set to report. Six companies in the Club portfolio are on the docket: Coterra Energy , DuPont , Eaton , Disney , Eli Lilly , and Texas Roadhouse . Week in trades It was also a busy week of trades for the portfolio. Kicking off the week, we added to our positions in Cisco Systems and Honeywell . That was followed up by a small trim of Eaton as the stock hit new high. On Tuesday, we locked in a nice profit on Eli Lilly following disappointing news from Novo Nordisk , its main competitor in the GLP-1 market. We also trimmed our position in Wells Fargo as shares finally recovered from their post-earnings decline. On Wednesday, we added to our position in Dover and called out that we would also be adding to our stakes in Starbucks and Palo Alto Networks , we were not restricted. We'll be keeping a close eye on both in the week to come for an opportunity to step in. Palo Alto finished the week down nearly 15% on a four-session losing streak after reports of talks and its confirmation of a $25 billion deal to buy CyberArk were not well received by investors. We, however, feel that bundling CybarArk's identity security platform will accelerate Palo Alto's platformization strategy. Rounding out the week , on Thursday, we cut our position in Abbott , in line with prior commentary in which we highlighted our concerns about the company's exposure to China. We took the raised capital and redeployed it in Capital One Financial as the move we were seeing in the stock didn't reflect the fundamentals we saw when it reported second quarter earnings. (See here for a full list of the stocks in Jim Cramer's Charitable Trust.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
