HBAR Token Rallies 8% Ahead Of Nasdaq ETF Debut — Anthony Scaramucci Describes It As The 'Sound Of Inevitability'

Core Viewpoint - Hedera (CRYPTO: HBAR) is experiencing a significant price rally ahead of the launch of its spot exchange-traded fund (ETF) on Wall Street, indicating strong market interest and potential for growth [1][3]. Group 1: Market Performance - HBAR has increased over 8% in the last 24 hours, with a trading volume exceeding $421 million, more than doubling from previous levels [2]. - In contrast, major cryptocurrencies like Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) have seen declines of 0.80% and 2.56%, respectively, highlighting HBAR's resilience during a market correction [2]. - The open interest in HBAR futures has surged by 29% in the last 24 hours, reflecting heightened interest from derivatives traders [2]. Group 2: ETF Launch - The upcoming launch of the Canary HBAR ETF, which will provide exposure to the HBAR token, is set to begin trading under the ticker HBR on the Nasdaq Stock Market [3]. - Canary Capital Group LLC is sponsoring the ETF, with BitGo and Coinbase acting as custodians [4]. - Prominent cryptocurrency advocate Anthony Scaramucci has expressed optimism about the ETF, describing it as "the sound of inevitability" [4]. Group 3: Trading Sentiment - More than 55% of Binance traders with open HBAR positions are betting on a price increase, as indicated by the Long/Short ratio [3]. - As of the latest data, HBAR is trading at $0.1974, reflecting an 8.63% increase over the last 24 hours [5].