The Hedera cryptocurrency (HBAR) has fallen 26% over the past month, from about $0.15 to $0.11, impacting exchange traded funds (ETFs) listed on Wall Street.
This descent Reached lowest level since November 2024the next major support is at $0.10. HBAR is currently trading 80% below its all-time high set in 2021.
The bearish trend in HBAR is closely related to the behavior of Bitcoin (BTC), which is currently trading around $87,000. As a key sector indicator, declines in BTC often amplify losses for cryptocurrencies like Hedera, as investors adjust their positions in the face of volatility in the market’s leading digital currencies.
Negative price performance is reflected and evidenced by weak inflows to the ETF. As reported by CriptoNoticias, the Canary Capital-managed product, which was launched on October 27, has shown almost zero demand from investors.
Last week, there was only one day with net inflows of $762,000. There was zero movement for the rest of the day.. The fund barely has $52 million in assets under management, a modest figure that highlights the limited market interest in the fund.
This pattern of low activity is similar to what we see with the Litecoin ETF (LTC). Unlike the frenzy surrounding other financial products such as XRP, the Hedera incident makes clear that the existence of an ETF alone does not guarantee commercial success or sustained price growth.
Ultimately, the Canary Capital ETF’s stagnation is a direct result of the market’s current apathy towards cryptocurrencies.
HBAR is the native token of Hedera, a network specialized in smart contract execution that aims to stand out (and give competition to Ethereum) with its low transaction costs.
