BlackRock fund tokenized on Hedera blockchain, HBAR token price fell more than 25% in a short time
On April 24, Hedera announced that BlackRock’s ICS U.S. Treasury Money Market Fund has partnered with Archax to be tokenized on the Hedera blockchain, BlockBeats reported. Following the news, the price of Hedera’s native HBAR token surged more than 107% on Tuesday. However, Archax CEO Graham Rodford clarified that BlackRock was not directly involved in launching a tokenized money market fund on Hedera, which was Archax’s choice. Since then, the HBAR token price has briefly fallen by more than 25%. Currently, HBAR’s current funding rate is negative, which may be the result of short selling by some traders.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Wedbush: Hard drive supply falls short of demand, Seagate (STX.US) and Western Digital (WDC.US) earnings reports may bring surprises
Wedbush reiterated its "outperform" ratings for Seagate and Western Digital, setting target prices at $1,000 and $650, respectively.
JPMorgan maintains Underweight rating on Nike (NKE.US): Deep in adjustment pains, performance pressures may persist until fiscal year 2028
Recently, JPMorgan released a U.S. equity research report on Nike. The research team participated in a face-to-face meeting with Nike's new CFO, Denton, updated profit assumptions based on management statements, and maintained an “underweight” investment rating on Nike.
Piper Sandler lowers Meta's target price to $850
Crypto prices
More
