Hedera Hashgraph's native token, HBAR, has experienced a notable surge in trading activity, driven by anticipation surrounding the network's mainnet upgrade to version 0.57. Scheduled for today, this upgrade has sparked increased interest and trading volume, with spot inflows for HBAR reaching a 27-day high. The market's optimism is reflected in the positive sentiment captured by the Elder-Ray Index, which indicates stronger buying pressure. This anticipation of new features and improvements has led to a bullish sentiment, with HBAR's price showing potential for further gains.
Adding to the positive momentum, HBAR has been highlighted as a top performer in the CoinDesk 20 Index, gaining 7% from Tuesday. This performance is part of a broader trend where all assets in the index are trading higher, with HBAR and Stellar (XLM) leading the pack. The anticipation of a potential spot exchange-traded fund approval by the SEC has also contributed to the positive outlook for HBAR, as investors speculate on the possibility of increased institutional inflows.
The current price of HBAR is $0.329021, marking a 1.81% increase today.