HBAR Price is Up 53% as Hedera Board Member Brian Brooks Could Head US SEC

The HBAR price has taken a new turn for the good, gaining 53% value in the last 24 hours, exciting the community for further gains. In the last few days, this public blockchain network has been in the limelight due to its new collaboration, boosting the demand for the token. Now, the Hedera board member Brian Brooks is bringing this limelight to another level as he is nominated for the next US SEC Chair position.

HBAR Price Skyrocketed With Rising Bets on Brian Brooks

With Donald Trump’s promise to fire Gary Gensler, the current SEC Chair, the most hated personality in the crypto industry, the hunt is on for the next leader. In that, Trump has nominated the Hedera Board Member, Brian Brooks, which is raising excitement among Hedera holders, resulting in a 53% surge in the HBAR price.

On the popular Khashi prediction site, the betting is on the next SEC Chair, and the possible candidates are Dan Gallaher (with 61% votes), Brian Brooks (12%), Paul Atkins (with 9%), and many others. With a 7% surge in the Brooks votes, he has come second in rankings, as Donald Trump has nominated him twice for the US SEC chair position.

More importantly, it is fueling the Hedera price rally, currently trading at $0.1350, with a market capitalization of $5.3B. Additionally, there is a 244% surge in trading volume, currently at $2.06B, showing rising interest in this token. However, this is not the only thing that has boosted the Hedera price, as it is up by 158% over the week and 168% over the month.

A few crypto investors have called HBAR the Solana of 2024, considering its rising popularity. More importantly, its collaboration with major companies like the Nairobi Securities Exchange and Kenya’s primary securities exchange is helping with the hype. The Hedera technology is also contributing to the  WISeSat.Space satellite launch which is going to happen in January 2025. This is a groundbreaking mission that will make the world’s first exchange directly from space in collaboration with SpaceX. This will secure satellite communication and blockchain integration.

🌌 https://t.co/4JUG5nFUGw Makes Headlines on Swiss Radio Television! 🚀

We’re thrilled to share that our upcoming https://t.co/4JUG5nFUGw satellite launch in January with @SpaceX has been featured by @RadioTeleSuisse Swiss Radio Television! https://t.co/tOz18s8MYg

This…

— Carlos Creus Moreira (@CreusMoreira) November 15, 2024

What’s Coming Next For Hedera Price?

Hedera’s price performance is impressive, but the expectations are much higher for the future. Many crypto analysts have anticipated further price rallies for this token. Captain Faibik, a popular crypto analyst, has forecasted a long-term target of $1 as the HBAR price pattern is breaking out of the Symmetrical triangle in the weekly timeframe.

$HBAR is breaking out of Symmetrical Triangle on the Weekly timeframe Chart..!!

Long term Target : 1.00$#Crypto #HBAR #HBARUSDT pic.twitter.com/bTeJI0KgA8

— Captain Faibik 🐺 (@CryptoFaibik) November 18, 2024

Another analyst, Shawn, called for $0.10 until Saturday, but that has only happened. Now, he has predicted that it will continue until it reaches the support at 0.1562, as a part of a major crypto rally.

Even the technical analysis indicates a strong buying pressure on the token, with all factors favoring the gains. So, the HBAR price might continue to rise unless the token enters an overbuying zone, leading to a trend reversal.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.