HBAR’s is up 160% this week after rumors spread about Brian Brooks being the next SEC Chair. Already owning a $2.06B trading volume and $5.3B market cap, this new surge has kept investors hyped. Brooks’s crypto knowledge and Hedera’s moves have the market buzzing. This bullish vibes has left everyone wondering what’s next.
HBAR is basically a native cryptocurrency of Hedera. Its a fast, secure and scalable blockchain platform especially designed for decentralized apps (dApps) and enterprise purposes. It mainly focuses on solving issues like high fees and slow speeds that plague other blockchains and overall claims to offer a more efficient alternatives. They use a unique consensus mechanism called Hashgraph, making it different from traditional blockchains.
This platform is taken away by storm which led it to surge by over 160% in the past week, plus a 30% rally in the last 24 hours. Its currently trading at $0.144. This meteoric rise is all thanks to a simple rumor about Brian Brooks, a Hedera board member, being appointed as the next U.S. SEC.
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This hype started right after President Trump hinted at replacing Gary Gensler, a well known figure in crypto industry, with Brooks who is also an expert in blockchain technology. Brooks is very close to Trump, he previously served as Binance US CEO and was nominated twice by Trump for Comptroller of the Currency. If the rumors turn out to be true, we should expect a very crypto friendly environment in the future. This has filled investors with optimism and excitement for the future.
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