VanEck, a major player in crypto asset management, is reporting significant institutional interest in the Hedera (HBAR) ecosystem. July saw HBAR’s price jump over 70%, fueled by a surge in partnerships, network growth, and institutional adoption.
Institutional Adoption on the Rise
Several key developments highlight this growing interest:
- Project Acacia: The Reserve Bank of Australia is exploring using Hedera for tokenized asset markets.
- Archax Exchange: The UK’s first regulated global digital asset exchange is using Hedera for settlements.
- Tokenized Funds: Archax created Hedera token contracts representing major financial players like BlackRock, Fidelity, State Street, and others. This suggests early interest in tokenizing real-world assets on the Hedera network, although it’s still in the pre-launch phase.
Stablecoin Surge on Hedera
Hedera is also experiencing a significant increase in stablecoin supply, primarily driven by Circle’s USDC. This, combined with a surge in transactions, points to robust on-chain activity.
Current Market Status
At the time of writing, HBAR is trading at $0.24, with a market cap of $10.3 billion.
Disclaimer:
This information is for general knowledge and shouldn’t be considered investment advice. Always do your own research before investing in cryptocurrencies./p>