HBAR Soars: The Galaxy’s New Favorite Token After Grayscale’s Nod 🚀💰

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What to know:

  • HBAR, the token that’s been quietly orbiting the crypto galaxy, has suddenly found itself in the spotlight, rising about 2% in 24 hours and now trading at $0.1614, up 11% over the past week. All thanks to its inclusion in the Grayscale Smart Contract Platform Fund (GSC). 🌠
  • The fund, in a move that could only be described as a cosmic realignment, rebalanced on Monday, replacing the once-mighty polkadot (DOT) with the up-and-coming hedera (HBAR). Other holdings were adjusted based on their index weightings, because, you know, the universe demands balance. 🔄
  • HBAR now holds a 5.8% allocation in the GSC Fund, joining a stellar lineup of assets like ether (ETH), solana (SOL), cardano (ADA), sui (SUI), and avalanche (AVAX). It’s like being invited to the intergalactic party of the century. 🎉

Hedera’s native token, HBAR (HBAR), traded higher after being added to the Grayscale Smart Contract Platform Fund. It’s like the token finally got its invitation to the cool kids’ table. 🎫

HBAR, up about 2% over the past 24-hour period, replaced polkadot (DOT) in the fund, which rebalanced on Monday. It’s a cosmic shift that has the crypto community buzzing. 🐝

The token was trading at $0.1614 at press time, up about 11% over the past seven days. It’s like HBAR has found its own little corner of the universe where it can shine. 🌟

“In accordance with the CoinDesk Smart Contract Platform Select Capped Index methodology, Grayscale has adjusted GSC Fund’s portfolio by selling Polkadot (DOT) and existing Fund Components in proportion to their respective weightings, and using the cash proceeds to purchase Hedera (HBAR) and existing Fund Components in proportion to their respective weightings,” Grayscale wrote in a statement Monday. It’s a mouthful, but essentially, they’re saying, “We’re making room for the new kid on the block.” 🚪

HBAR carries a 5.8% weight within the fund, with other additions, including ether (ETH), solana (SOL), cardano (ADA), sui (SUI), and avalanche (AVAX). It’s like a who’s who of the crypto world, and HBAR is the new star. 🌠

The token’s performance during the final trading hour illustrated sophisticated market dynamics, with a controlled 2% range suggesting professional money management rather than retail speculation. It’s like the market is saying, “We’re not just here for the ride; we’re here to stay.” 🚀

Trading volumes of 77.7 million, 145.7 million, and 97.5 million during afternoon hours substantially exceeded daily averages, indicating sophisticated market participants are accumulating positions ahead of potential enterprise announcements. It’s like they’re all waiting for the big reveal. 🎉

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2025-07-08 22:16