Hassan Maishera
TL;DR
-
HBAR is the best performer amongst the top 100 cryptocurrencies by market cap after its 97% rally.
-
The rally was fueled by Archax’s launch on the Hedera blockchain.
HBAR Leads the Market Charge
HBAR, the native coin of the Hedera blockchain, is the best performer amongst the top 100 cryptocurrencies by market cap. The coin is up by 97% over the last 24 hours, outperforming the other major cryptocurrencies.
The rally was fueled by Archax’s launch on the Hedera blockchain. HBAR Foundation, the development team behind the Hedera blockchain, announced on Tuesday that it has partnered with Archax, the first FCA-regulated digital asset exchange, broker and custodian.
As a result of their partnership, Archax will expand the range of fund shares it offers in tokenized form with the provision of the BlackRock ICS US Treasury money market fund1 (MMF) on Hedera.
Thanks to this rally, HBAR is now trading at $0.1752, up by more than 115% over the last seven days. With HBAR leading the market charge, meme coins are not left behind. While Shiba Inu and Dogecoin are up by 3% respectively, other leading memecoins have been rallying harder.
Dogwifhat (WIF) is up by more than 20% and is currently trading at $3.38 per coin. Its rally saw it become the 36th largest cryptocurrency by market cap. Meanwhile, PEPE occupies the 37th spot and is up by 19% over the last 24 hours.
FLOKI is another memecoin that has been performing well as it added 18% to its value in the last couple of hours. BONK has been on an excellent run recently, with the meme token up by 33% in the last 24 hours and 77% over the past seven days. This allowed it to overtake SUI and occupy the 59th spot in the market.
With altcoins performing well, the total cryptocurrency market cap is now approaching $2.5 trillion once again.
