Hedera’s token jumped nearly 30% on Monday and Tuesday, to its highest since January, before falling again on Wednesday. The momentum owes much to the arrival of an identity solution for AI agents on IBM Cloud. Another catalyst lent to the network, a tokenization signed BlackRock, remains to be confirmed.
In brief
- HBAR peaked around $0.13, its highest since early January, before falling below $0.11 on Wednesday.
- The confirmed catalyst is Hashgraph Group’s IDTrust, listed since September 23 on the IBM Cloud Catalog.
- A report suggests tokenization of BlackRock’s monetary fund on Hedera, without official confirmation at this stage.
A 30% jump, then the decline
Hedera, one of four projects capturing 70% of tokenized asset activity, saw its crypto jump nearly 30% on Monday and Tuesday, from around $0.096 to a peak near $0.13, the highest since January. Its capitalization has crossed $5 billion, surpassing Avalanche and Sui, and the increase reached almost 60% over two weeks.
The party was brief. This Wednesday morning, the HBAR was moving around $0.108, down 8.5% over 24 hours (CoinGecko reading, September 30, 11:20 UTC), for a capitalization that fell to around 4.7 billion. The indicators had warned. Daily RSI rose above 81in the overbought zone, and the main remaining liquidation cluster is located below $0.108.
IBM confirms, BlackRock is still waiting
The most tangible catalyst dates from September 23. The Swiss group Hashgraph Group has validated its IDTrust, a self-sovereign identity solution, and had it included in the IBM Cloud catalog. It is used to verify the identity of AI agents acting on behalf of companies, with each identifier anchored in Hedera. IBM, a member of the governance council since 2019, thus offers the ecosystem a first commercial outlet on a large cloud catalog.
The other engine loaned to the rally is more vague. Information relayed on September 28 mentions the tokenization of shares of BlackRock’s ICS US Treasury monetary fund on Hedera, via Securitize, for approximately $38 billion in assets. A sizeable nuance is necessary.
The often cited figure of 40 billion covers the entire range of money market fundsnot the assets deployed on Hedera; neither the timetable nor the exact scope have been detailed. BlackRock has not, at this stage, published any confirmation.
Will crypto track network activity?
The real debate remains open. Hedera accumulates corporate credentials, but its business is often settled in dollars, and there is no guarantee that this adoption is reflected in the crypto price. Chartist analysts believe in it.
For Doctor Profit, each crossing of the 50-week moving average preceded big movements; OxNeena targets $0.20, $0.30 and then $0.45 if it breaks out of a descending channel. Technical readings, not promises.
The listed vehicles also invite measurement. Grayscale withdrew its Cardano, Hedera and Polkadot filings this summer, and the altcoin ETF race remains young. For the future, the news from Hedera will be the best observation point.
Two concrete deadlines are emerging. The support below $0.108 must hold in the face of liquidations, and the BlackRock file must pass the rumor stage. Beyond the HBAR there is a broader question at stake, that of blockchains which are dreamed of as AI infrastructure.
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