HBAR has taken the crypto market by storm, surging almost 160% in the past week, including a 30% rally in the last 24 hours, currently trading at $0.144. This meteoric rise follows speculation around Brian Brooks, a Hedera board member, being nominated as the next U.S. SEC Chair.
The buzz began after Donald Trump hinted at replacing Gary Gensler, a polarizing figure in the crypto world, with Brooks, known for his blockchain expertise. Previously, Brooks served as Binance US CEO and was nominated twice by Trump for Comptroller of the Currency. If confirmed, his leadership could foster a more crypto-friendly regulatory environment, spurring optimism among investors.
HBAR’s trading volume surged 244% to $2.06 billion, reflecting heightened market activity. The token’s market cap now stands at $5.3 billion, signaling strong momentum.
Betting platforms like Kalshi show Brooks gaining traction in predictions for the next SEC Chair, with 48% of votes, trailing Dan Gallagher at 25%. However, Brooks’s increasing visibility, thanks to his nomination and Hedera’s developments, has bolstered his position.
This price rally is also supported by recent collaborations and network advancements, cementing Hedera’s reputation as a robust public blockchain network. With HBAR up 171% for the month, the token continues to captivate the market as investors await further updates on Brooks’s potential appointment and the ETF filing.
Also Read: Hedera HBAR Soars 32.19% in 24 Hrs, Hits $4.24B Market Cap
