💥 HBAR increased by 75% after the news that BlackRock tokenized Money Market Fund on the Hedera network
Archax, Ownera and The HBAR Foundation have collaborated to tokenize BlackRock's Money Market Fund (MMF) on the Hedera network, marking a major step forward in integrating RWA (Real World Asset) into the Hedera blockchain.
The partnership allows for increased liquidity, making it easier and faster for tokenized MMF shares to be traded on exchanges like Archax. Besides, it also opens up MMF investment opportunities to more institutional and professional investors.
Information about the projects in this partnership:
👉 Archax: Regulated digital asset platform that facilitates the tokenization and trading of MMF shares.
👉 Ownera: Provides technology (Buy-Side Router) for seamless interaction between financial institutions and tokenized MMFs.
👉 Hedera: Layer 1 blockchain network chosen for its speed, security and cost-effectiveness for institutional use.
Following this news, the HBAR (Hedera) token price skyrocketed 75% to 0.1646 USD, the highest level since April 2022. The trading volume in the past 24 hours of HBAR also exceeded 300 million USD, showing that the Big money is pouring into this token.
According to analysts from Coin Journal, the technical analysis chart shows very active trading activity at the current price level, which is a positive signal.
The RSI also shows bullish momentum, which could push HBAR price higher. They predict that HBAR price may move towards 0.2 - 0.3 USD in case the market is positive & the RWA trend continues to rise.
This impressive growth once again shows the huge impact of BlackRock on the Crypto market. BlackRock is the world's leading asset manager, managing more than $11 trillion in assets.
🎯 This article is for informational purposes only, not investment advice. Readers should always do their own research before investing in any project.
