- Hbar faces strong lowering feelings, plunging 9.18% in 24 hours.
- NASDAQ 19B-4 Files Form with dry to list the ETF Hedera de Grayscale.
In the midst of an increased institutional request for cryptographic assets, the funded funds have become very popular. Since the launch of ETF Bitcoin (BTC) earlier last year, most Altcoins have entered the graphics.
In recent developments, Hedera (Hbar) has experienced major support for the next ETF.
Source: Nasdaq
As such, the Nasdaq Bourse Market LLC has filed a 19B-4 form to the US Securities Exchange Commission (SEC) to list and negotiate the Stock Exchange Fund Spot in Graycale.
Usually, a 19B-4 deposit is the second phase before the recognition by the dry. Once recognized, it is published in the Federal Register awaiting the approval of the SEC.
The recent deposit by the Nasdaq in the name of Grayscale comes shortly after the Nasdaq submitted another ETF Hedera on behalf of Canary Capital.
The second deposit positions Hedera in a favorable position among altcoins to obtain approval according to its network development and the progression of its ecosystem.
If it is approved, the FNB will facilitate investors to obtain exposure to Hbar without having to have the crypto directly.
What it would mean for Hbar
In particular, the approval of the Hedera ETF would be a change of game, especially since the Altcoin network continues to fight.
Insofar as Hedera’s active accounts decreased by 93% from 621K to 39K in the last three months. This shows a drop in network use and adoption rate, which are at the heart of the continuous growth of Altcoin.
Consequently, ETF would give room for other users and investors, even if they are indirectly, this will increase the demand rate, which will end up having a positive impact on Hbar’s growth.
Source: Hashscan
Although the good news of a potential FNB should have a positive impact on the feelings of the Hbar market and the price movement, this is not yet the case.
In fact, to date. Hedera was negotiated at $ 0.2272. This marked a drop of 9.18% in the last day.
The sharp decline despite these developments suggests that Altcoin has lowered feelings, as evidenced by the aggregated interest in Hedera, which increased from $ 145 million to $ 103 million during the last day.
Source: Coanyze
Thus, investors seemed to actively close their positions to lock the profits or others are liquidated with force as the market is found. Such investors behavior reflects a lack of confidence, as they expect prices to decrease more.
The market conditions in force suggest that investors see an ETF as a long -term bet. Consequently, these ETF must first obtain the approval of the dry to have a real impact on the movements of the prices of Hedera.
In the short term, the markets remain lower.
If these conditions remain, Hbar could decrease to $ 0.21. However, if investors take the deposit as a bullish signal and turn to accumulation, Hedera would recover $ 0.25.
