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Canary Capital’s Hedera-based exchange-traded fund (ETF) carries on trading on NASDAQ despite the altcoin’s negative performance in yearly terms. Not only did the HBAR-based ETF not lose weight, it gained 69% cumulative netflows throughout the same period.
Hedera ETF Stability Versus Flopping Price Movement
This paints a story of institutional trust even when the crypto bears storm in. This hasn’t changed the Hedera-based ETF dynamic not one bit: on the contrary, it continued to pull in hundreds of thousands of dollars a week, but the growth is facing subdued trading activity.
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Hitting the $113 million mark, has also seen three quiet weeks of absolutely no inflows over the past quarter. The altcoin’s Wall Street traded product also saw -$558.98K in flows last week as whales cashed out amidst a concerning whirlpool of geopolitical tensions.
Rather than selling, Wall Street punters are grappling with the bearish market conditions by slowly increasing the HBAR allocation in their digital asset portfolios. Hedera Hasgraph’s (HBAR) native coin dwindled by 52% in a yearly time-frame, also down 28% Year-To-Date (YTD).
HBAR Price: What’s Happening Behind The Charts
This appeals as a low-risk buying opportunity for many long term holders who are basing their judgment on the Market Value to Realized Value (MVRV) index. Once it flashes negative figures, buyers can step in at lower prices and ‘discounts’ in theory, as the previous buyers soaked up the deficits.
Also, active crypto whale participation is needed for HBAR to reclaim any significant resistance levels. Based on the daily HBAR price charts, Hedera’s native token remained relatively low in terms of Spot market turnover, showcasing a 4.45% 24-hour rate, according to SoSoValue.
The 24-hour trading volume on Spot markets has registered $154,901,395, while the action on Derivatives saw nearly $180 million flipped in the same time window. The scales on the long versus short ratio are nearly evenly divided. Crypto bulls still have the upper hand at 1.069, but the liquidation data shows an anomaly.
A whopping $422.6K out of $430.5K excessively-leveraged HBAR position liquidations are longs, meaning that short-sellers are trying to push the altcoin below $0.08. This seems to be the case as HBAR is priced at $0.079, well below the high-tier SuperTrend price of $0.096 and the $0.086 middle-tier Bollinger Band.
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