Hedera's HBAR Doubles, Then Falls 25%, as BlackRock Links Diminish

Hedera’s native HBAR token surged by over 107% on Tuesday, then slipped 25%, as investors believed that BlackRock was involved in a fund tokenization project on the Hedera blockchain. On Tuesday, Hedera announced that BlackRock’s ICS U.S. Treasury money market fund had been tokenized on the Hedera blockchain in collaboration with Archax. Hedera supporters on social media began claiming that BlackRock chose Hedera to tokenize its fund, although this wasn’t the case. The HBAR token is still up by 61% over the past 24 hours, but the 2% market depth remains relatively thin, with $900,000 in cumulative bids on the Binance and Upbit order books within 2% of the current price of 14 cents.

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