Hedera cryptocurrency (HBAR) has seen a 26% drop in the last month, going from around $0.15 to $0.11, impacting its Wall Street-listed exchange-traded fund (ETF).
This descent has led it to reach its lowest level since November 2024with the next key support located at $0.10. HBAR is currently trading 80% below its all-time high reached in 2021.
HBAR’s bearish trend is closely linked to the behavior of bitcoin (BTC), which is currently trading around $87,000. As a leading sector indicator, declines in BTC often amplify losses in cryptocurrencies like hedera, as investors adjust their positions in the face of volatility in the market’s main digital currency.
The negative price performance has been reflected and validated by the weak capital flow into its ETF. The instrument managed by Canary Capital, launched on October 27, as reported by CriptoNoticias, shows almost zero demand from investors.
In the last week, only record a day with a net income of $762,000, while the rest of the days reported zero movements. The fund barely accumulates $52 million in assets under management, a modest figure that underlines the limited market interest in the fund.
This pattern of low activity is similar to that seen in the Litecoin ETF (LTC). Unlike the enthusiasm surrounding other financial products such as XRP, the hedera case makes clear that the existence of an ETF does not alone guarantee commercial success or a sustained rise in price.
Ultimately, the stagnation of the Canary Capital ETF is a direct consequence of the current market disinterest in cryptocurrency.
HBAR is the native token of Hedera, a network specialized in the execution of smart contracts and that seeks to stand out (and give competition to Ethereum) for its low transaction costs.