Hedera's HBAR Token Surges and Slips as BlackRock's Involvement in Fund Tokenization Project is Misunderstood
BlackRock was not directly involved in the tokenization of a money market fund on the Hedera blockchain, despite rumors to the contrary. The HBAR token experienced a surge of over 107% on Tuesday, followed by a 25% drop, as traders looked to short the recent spike. While the token remains up by 61% over the past 24 hours, liquidity remains thin relative to volume, indicating a potentially volatile trading period ahead. Funding rates across all derivative exchanges are heavily negative, indicating a bearish bias, and the lack of liquidity coupled with a high short interest creates a landscape for a potentially volatile trading period.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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