- Javon Marks highlights HBAR’s breakout setup and potential to surpass key technical levels.
- Grayscale’s Hedera ETF filing is under SEC review with a public feedback window open.
In the crypto market, investors often debate which opportunities will explode next. Currently, there is one crypto that is starting to get more attention, namely Hedera with its flagship token, HBAR. Reportedly, this token has the potential to soar high, up to more than 100% of its current price.
Hashgraph: Speeding Past Traditional Blockchain
If we usually hear that crypto is always identical to blockchain, this time the story is different. Hedera does not use blockchain but rather Hashgraph technology, which is much more unique and faster.
This Hashgraph network does offer much higher transaction speeds, even reaching 10,000 transactions per second (TPS). For comparison, try to imagine Bitcoin, which is only capable of around 7 TPS. The difference is like a motorbike versus a superbike on a straight road. Obviously, investors who love speed are starting to look at HBAR.
Even more interesting, the transaction fees are very cheap. To send funds with this network, the costs incurred are only a fraction of a cent. Just imagine you buy coffee using crypto and the transaction fees are much cheaper than paying for parking in front of a cafe. The savings are incredible!
SEC Review of Hedera ETF Could Be a Game-Changer
On the other hand, there is positive news from our prior report, where Grayscale, one of the giant investment managers widely known for its Bitcoin ETF products, is now seriously working on the Hedera ETF. The submission of this ETF has also been officially accepted by the US Securities and Exchange Commission (SEC) for further review.
Currently, the process has entered the public review stage for three weeks. During this time, various parties will provide views and input to the SEC. This is like the campaign period in an election, where everyone is free to give their opinion before the final decision is made.
If the Hedera ETF is approved by the SEC, the impact could be major for the HBAR token. For example, when Grayscale introduced the Bitcoin ETF, market interest immediately increased sharply. So it is not impossible, if HBAR gets the green light from the SEC, its price will also soar.
Analyst Predicts HBAR Could Soar Over 144%
Optimism about HBAR is not just empty dreams from investors who are hoping for luck. Renowned crypto analyst Javon Marks explained in detail the potential for a surge in the price of the Hedera token in his recent X post. Marks estimates that the next price target for HBAR will reach around $0.504.
Currently, HBAR is still far below that figure. However, if the upward momentum persists and reaches the target of $0.504, there is a clear path to a higher level, specifically $0.962. In total, the increase could reach more than 144% from the current level.
Big Names, Big Concerns: Hedera’s Governance Dilemma
However, there are still serious challenges for Hedera. One of the most highlighted is the problem of centralization that is still strongly attached to this project. Hedera is regulated by a Governing Council consisting of large companies such as Google, IBM, and Visa.
On the one hand, these big names can indeed make investors feel more comfortable. But, on the other hand, this is also a big doubt for those who believe more in a fully decentralized system.
Hedera has indeed promised to make a transition to full decentralization. However, this promise is still in the long-term planning stage. Meanwhile, as of press time, HBAR is trading at about $0.1898, down 5.12% over the last 24 hours.
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