Hedera's native cryptocurrency HBAR surged 4.7% in 24 hours following its inclusion in Grayscale's Smart Contract Platform Fund (GSC Fund), replacing Polkadot (DOT). The rebalancing occurred on July 8, with Grayscale selling DOT and existing fund components proportionally to their weightings and reinvesting proceeds into HBAR and other assets. HBAR now constitutes 5.80% of the fund, while Ethereum (30.22%) and Solana (29.87%) remain dominant holdings.
The addition accelerated HBAR's recovery rally, contributing to an 11% weekly gain that reversed a two-month downtrend. At reporting time, HBAR traded at $0.16 amid significantly elevated trading volumes, indicating institutional accumulation. Visibility metrics spiked sharply: HBAR became CoinMarketCap's most-viewed real-world asset token, while Google search interest for 'HBAR' hit peak scores of 100.
Further accessibility boosts include HBAR's new listing on Metal Pay and scheduled July 10 debut on Kraken exchange. Investor Kevin O'Leary publicly endorsed the token, stating, "I think HBAR is going to be big, I really do," and confirming his personal holdings.