Suche
Mein Konto
Hedera (HBAR) explodes by 96 percent thanks to BlackRock cooperation
Find out why Hedera (HBAR) rose 96 percent and how there is a misunderstanding behind it. Read more about the controversial cooperation with BlackRock and its impact on the crypto market.
Hedera (HBAR) explodes by 96 percent thanks to BlackRock cooperation
The sudden 96 percent increase in the Hedera (HBAR) price caused excitement in the crypto community after a collaboration between Hedera and BlackRock was announced. The US asset management company agreed to tokenize a fund, resulting in HBAR reaching a high of $0.18. However, the price corrected after this increase and stabilized at $0.12.
The HBAR Foundation, which is behind the smart contract platform, caused a wave of euphoria with its announcement of the tokenization of the BlackRock ICS US Treasury Money Market Fund. Nevertheless, critics expressed concerns about a possible misunderstanding since BlackRock itself was not actively involved in tokenization. Chris O'Connor emphasized on Twitter that BlackRock had no direct connection to Hedera and warned against misrepresentation by the HBAR Foundation.
A Hedera employee, Christian Hasker, clarified the situation and confirmed that BlackRock was indeed involved in the tokenization of the fund. This involvement of BlackRock could mark a promising development for Hedera's future, as the asset manager has given its approval to select Hedera as its blockchain platform.
Although BlackRock was involved in the tokenization, the decision to use Hedera as a platform was made by Archax. This could mean that future BlackRock investment products will not be reflected exclusively on Hedera. However, investors now have the opportunity to invest in the BlackRock ICS US Treasury Fund, which is invested in US government bonds, via the blockchain.
Overall, it can be seen that the misunderstanding regarding the connection between Hedera and BlackRock led to a sharp increase in the share price, but the facts surrounding BlackRock's involvement were clarified. However, Hedera's future remains promising thanks to the possible collaboration with such an important financial company as BlackRock.