Hedera’s 28% Surge: SWIFT Partnership Boosts HBAR Price

• Hedera surged 28% in the past week, driven by a partnership with SWIFT.
• Canary Capital’s filing for an HBAR ETF could attract institutional investors.
• Hedera’s ISO 20022 compliance enhances its integration with traditional finance.

In the past week, Hedera’s cryptocurrency, HBAR, has surged by 28%, capturing the attention of investors and analysts alike. This bullish trend is largely attributed to Hedera’s recent partnership with SWIFT, the global payment network, which has positioned HBAR ahead of established cryptocurrencies like Chainlink (LINK).

SWIFT’s integration of Hedera’s blockchain technology across North America, Europe, and Asia aims to enhance transaction speed and transparency in international money transfers. This collaboration has not only validated Hedera’s technological capabilities but also opened access to a $150 trillion market, significantly boosting investor confidence.

Following the partnership announcement, HBAR experienced a 24% price surge, propelling it to the 11th spot globally and surpassing Litecoin (LTC). Currently trading at $0.2463, HBAR is approaching its all-time high of $0.2646, with analysts predicting a potential rise to $1 if the bullish momentum continues.

Hedera ETF Prospects and Institutional Interest

The potential approval of a Hedera (HBAR) exchange-traded fund (ETF) by the U.S. Securities and Exchange Commission (SEC) could further accelerate HBAR’s growth. Canary Capital has filed an S-1 registration statement for an HBAR ETF, aiming to provide investors with regulated exposure to HBAR. If approved, this ETF would mark a significant milestone, attracting institutional investors and potentially driving HBAR’s price higher.

Hedera’s compliance with the ISO 20022 standard positions it favorably for integration into traditional financial systems. This alignment facilitates seamless communication between financial institutions and blockchain networks, enhancing HBAR’s appeal to banks and payment processors.

Crypto expert Jesse Olson notes that HBAR has broken through a critical trendline resistance level, with targets of $0.33 and $1.20 now in sight. This technical analysis suggests that HBAR’s bullish trend may continue, especially with ongoing institutional interest and strategic partnerships.

Within the cryptocurrency community, there is growing optimism about HBAR’s potential. Discussions highlight HBAR’s robust technology and strategic positioning, with some enthusiasts predicting that HBAR could become a top-five cryptocurrency in the near future.

HBAR’s recent developments, including its partnership with SWIFT, potential ETF approval, and ISO 20022 compliance, have collectively contributed to HBAR’s impressive performance. As the cryptocurrency market continues to evolve, HBAR’s strategic initiatives position it as a formidable contender in the digital asset space.