Hedera’s HBAR Rises After Inclusion in Grayscale Fund
Main Idea
Hedera's HBAR token rose by about 2% after being included in the Grayscale Smart Contract Platform Fund, replacing Polkadot (DOT) in the fund's rebalancing.
Key Points
1. HBAR rose about 2% over the past 24 hours and now holds a 5.8% allocation in the Grayscale Smart Contract Platform Fund.
2. The fund rebalanced on Monday, replacing Polkadot (DOT) with HBAR and adjusting other assets like ether (ETH), solana (SOL), cardano (ADA), sui (SUI), and avalanche (AVAX).
3. HBAR was trading at $0.1614 at press time, up about 11% over the past period.
4. Trading volumes during afternoon hours (77.7 million, 145.7 million, and 97.5 million) substantially exceeded daily averages, indicating retail speculation.
Description
Hedera’s native token, HBAR (HBAR), traded higher after being added to the Grayscale Smart Contract Platform Fund (GSC). HBAR, up about 2% over the past 24-hour period, replaced Polkadot (DOT) in the fund, which rebalanced on Monday. The token was trading at $0.1614 at press time, up about 11% over the past seven days. “In accordance with the CoinDesk Smart Contract Platform Select Capped Index methodology, Grayscale has adjusted GSC Fund’s portfolio by selling Polkadot (DOT) and existing Fund C...
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