In a surprising turn of events, the native token of the decentralized ledger platform Hedera, HBAR, experienced a significant price surge of over 100% during the early hours of Tuesday. Starting from a low of $0.0875, HBAR skyrocketed to reach the $0.1821 mark by Wednesday.
The sudden surge was triggered by the news of BlackRock’s tokenized fund, BUIDL, which generated high expectations among HBAR investors regarding a potential collaboration between the prominent asset manager and the Hedera protocol.
Not Directly Connected To Hedera?
Launched by BlackRock in March 2024, BUIDL operates as a tokenized fund on the Ethereum blockchain, providing US dollar yields through tokenization.
Initially, an announcement led to confusion among investors, who mistakenly believed that BlackRock would directly tokenize the fund on the Hedera network. This misunderstanding triggered a significant surge in the HBAR price.
Upon closer examination of the announcement, it became clear th
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