It’s been a long time since HBAR hit highs of $0.40 in January this year. Early hype about HBAR ETFs as well as a bid by the HBAR Foundation to buy TikTok gave investors optimism in the first quarter. That optimism has since died down. Today we look at why you should consider selling your HBAR holding.
In November 2021 we advised our readers to sell their Coinbase stock. It has taken since that time for Coinbase’s stock price to finally hit the highs that many bullish investors predicted back in 2021 when Coinbase first went public. However, in crypto, this is not an acceptable or reasonable time to generate a return on investment. In crypto investors are looking for quicker returns, ideally within a one-year span, and not several years into the future.
The HBAR story has been one we have been following at DisruptionBanking for many years. In October 2023 we spoke to Mance Harmon, one of the co-founders of Hedera, who highlighted the many use cases of the layer one blockchain. As with many other blockchain projects though, Hedera and HBAR have different trajectories. Adoption of Hedera doesn’t necessarily mean that HBAR’s price will rise. Much as we have seen.
Why is HBAR’s price so low?
Analysts on the leading trading platform TradingView are bearish on HBAR today. This is even after good news like the recent 21shares listing of a Hedera ETP on Euronext. This led HBAR’s price to rise to $0.18 for a few hours before dipping to lows of $0.13 on June the 22nd. Today the token is trading on Coinbase at $0.15.
Some of the arguments against HBAR’s price rising have been raised by @vincent_vancode on the X platform. Vincent believes that there is no tangible use case to drive up the price of $HBAR. Instead he is much more bullish on XRP, and it’s use cases. An opinion that many online commentators seem to share.
Is the Change in ESG Direction Affecting HBAR’s promise?
When HBAR first came out, one of its biggest differentiators was how little energy it consumed to process a transaction. With the reversal of ESG initiatives in the U.S., this differentiator has become less important to investors as well. Further undermining sentiment in HBAR. As the token is only used for fees and has no other use case.
In a market where Bitcoin now has a 64 percent share among all cryptocurrencies, altcoins like HBAR will need much more than a large ecosystem and several thousand followers on X to drive its price. Especially with XRP taking so much of the limelight in recent months.
It may be some time before the market corrects and the solutions that HBAR and Hedera are offering become desirable again. For now, just like with Coinbase stock in 2021, it might be better to release your holding and focus on other, better assets in 2025.
Author: Andy Samu
The editorial team at #DisruptionBanking has taken all precautions to ensure that no persons or organizations have been adversely affected or offered any sort of financial advice in this article. This article is most definitely not financial advice.
#HBAR #Crypto #Hedera #Price
See Also:
Is the HBAR Foundation Bidding to Buy TikTok? | Disruption Banking
Why you should sell your Coinbase stock • Disruption Banking
21Shares Launches 21Shares Hedera ETP (HDRA) on Euronext | Disruption Banking
