HBAR Hits 4-Month High After Major Partnerships, Analysts See Path to All-Time-High

Hedera (HBAR) has risen to its four-month high amid a strong market recovery. This recovery has also positively impacted 'Made in USA' cryptocurrencies, with many experiencing double-digit increases.

Meanwhile, HBAR's value has increased by 24.7% in the past 24 hours, as investors show growing confidence in its potential. In fact, many analysts believe this asset could soon reach a new All-Time-High (ATH).

Hedera (HBAR) Price Reaches 4-Month High

According to the latest market data, HBAR has risen to $0.258 today, its highest price since March 7, 2024. Its market capital has also surged, surpassing Chainlink to claim the 14th position among top cryptocurrencies by market capital.

However, there was a slight decline afterward, and this position was reversed again. Data from BeInCrypto shows this altcoin is trading at $0.250 at the time of writing.

Notably, this milestone follows a 56.6% increase in the past week, with HBAR outperforming the broader cryptocurrency market. HBAR's price surge coincides with growing investor interest.

This is driven by the latest strategic partnerships involving Hedera. On July 10, 2024, EQTY Lab announced a collaboration with NVIDIA, SCAN UK, Accenture Public Sector, and Hedera to develop its Verifiable Compute.

This project leverages NVIDIA's Blackwell architecture and Hedera's encryption protocols to ensure security, performance, and compliance in sovereign AI systems.

"NVIDIA's new Blackwell chip (market capital of $4 trillion) — the future platform of AI infrastructure — is integrating verifiable computing built on Hedera. This is not just a partnership. This is a complete validation. No other cryptocurrency has this level of orthodox acceptance – a game-changer," an analyst wrote.

Previously, BeInCrypto also highlighted that HBAR has replaced Polkadot (DOT) in the Grayscale Smart Contract Platform Fund (GSC Fund). Moreover, it was listed on Kraken exchange on July 10, 2024, further enhancing its legitimacy, accessibility, and appeal.

With these factors, market observers are increasingly optimistic about HBAR's prospects. In a recent X (formerly Twitter) post, a famous analyst, Merlijn The Trader, declared that the altcoin's latest breakthrough positions it for future profits.

Similarly, another analyst noted that HBAR has the potential to reach $0.70, breaking its previous ATH of over $0.56.

"HBAR just broke out and is targeting $0.70. More momentum is needed to make this a real trend, just below the old peak, waiting for trading volume to appear," the post read.

Meanwhile, the "Made in USA" cryptocurrency portfolio, including HBAR, has also seen growth. Its collective market capital reached $496 billion, increasing 6% in the past day.

Coins like Stellar (XLM) and Algorand (ALGO) have performed strongly in the past week, increasing by 99.2% and 60.8% respectively.

"Congratulations to Stellar and Hbar, they have overcome the storms of recent years and are developing well," Cardano co-founder Charles Hoskinson wrote.

Thus, HBAR is well-positioned to continue growing with the broader market recovery and strong investor support. However, it is crucial for this asset to maintain its momentum and navigate any potential market fluctuations.