Hedera (HBAR) has surged to its highest level in four months amid a broader market rally. This rally has also positively impacted ‘Made in USA’ cryptocurrencies, with many experiencing double-digit gains.
Meanwhile, HBAR’s value has appreciated 24.7% in the past 24 hours, as investors show increased confidence in its potential. In fact, many analysts believe that the asset could soon reach a new all-time high (ATH).
Hedera (HBAR) Price Hits 4-Month High
According to the latest market data, HBAR rose to $0.258 today, its highest price since March 7. The coin’s market cap also surged, surpassing Chainlink’s to claim the 14th position among the top cryptocurrencies by market capitalization.
However, a slight dip followed, and the position reversed once again. BeInCrypto data showed that the altcoin was trading at $0.250 at the time of writing.
Notably, the milestone follows a 56.6% increase over the past week, which has seen HBAR outperform the broader cryptocurrency market. The surge in HBAR’s value coincides with heightened investor interest.
This is fueled by the latest strategic partnerships involving Hedera. On July 10, EQTY Lab announced its collaboration with NVIDIA, SCAN UK, Accenture Public Sector, and Hedera to advance its Verifiable Compute.
The project leverages NVIDIA’s Blackwell architecture and Hedera’s cryptographic protocols to ensure the security, performance, and compliance of sovereign AI systems.
“NVIDIA’s ($4 trillion market cap) new Blackwell chips — the future backbone of AI infrastructure — are integrating verifiable compute built on Hedera. This isn’t just a partnership. It’s total validation. There is literally no other crypto with this level of mainstream adoption on full display – game changing,” an analyst wrote.
Previously, BeInCrypto also highlighted that HBAR replaced Polkadot (DOT) in the Grayscale Smart Contract Platform Fund (GSC Fund). Furthermore, it was listed on the Kraken exchange on July 10, further boosting its legitimacy, accessibility, and appeal.
With these factors, market watchers are increasingly optimistic about HBAR’s prospects. In a recent X (formerly Twitter) post, a prominent analyst, Merlijn The Trader, stated that the altcoin’s latest breakout positions it for further gains ahead.
Similarly, another analyst noted that HBAR has the potential to reach $0.70, breaking its previous ATH of over $0.56.
“HBAR just broke out and eyes are on $0.70. Still needs that extra momentum to flip this into a real trend, sitting right below the old peak, waiting for volume to show up,” the post read.
Meanwhile, the broader “Made in USA” cryptocurrency category, which includes HBAR, has also seen gains. The collective market cap reached $496 billion, a 6% increase over the past day.
Coins such as Stellar (XLM) and Algorand (ALGO) have performed strongly over the past week, rising 99.2% and 60.8%, respectively.
“Congrats to Stellar and Hbar, they have weathered the storms of the past few years and are growing well,” Cardano’s co-founder Charles Hoskinson wrote.
Thus, HBAR is well-positioned for continued growth with the broader market rally and strong investor support. Nonetheless, it remains crucial for the asset to maintain this momentum and navigate any potential market fluctuations.
The post HBAR Hits 4 Month High After Major Partnerships, Analysts See Path to All-Time Highs appeared first on BeInCrypto.
