The Canary HBAR ETF (HBR), trading on Nasdaq, pulled in $989,000 in net inflows on July 2 – its biggest single-day inflow since May 15. The figure came during a week when Hedera (HBAR) price hovered near $0.075, consolidating after an 83% correction from its local high. While the inflow is modest compared to spot Bitcoin or Ethereum ETF flows, it underscores that institutional demand for regulated HBAR exposure persists.
HBAR was trading at $0.075212 on July 5, up 5.67% over seven days with a market cap of about $3.29 billion. The token remains far below its all-time high of $0.569229 from September 2021 and has struggled to reclaim the $0.10 resistance area. The Canary ETF, which holds actual HBAR and offers access through brokerage and retirement accounts, reported net assets of $49.14 million as of July 2, with a market price of $9.92 and a 0.95% sponsor fee. Custodians include BitGo Trust and Coinbase Custody Trust.
Meanwhile, prominent analyst Crypto Patel spotlighted a macro setup on the HBAR chart that suggests a potential 1,600% rally. The token has returned to a high-confluence weekly order block between $0.058 and $0.042 – a zone that historically launched explosive moves of 800% to 1,800%. Patel identified the descending trendline as the final barrier, with a weekly close above it triggering targets at $0.16, $0.35, and eventually $1.00. Invalidation sits at $0.0356 on a weekly close. The analysis points to a repeating cycle pattern where accumulation at this support preceded previous bull runs, including the 1,800% surge to the all-time high in 2021 and an 800% relief rally in 2024.
Adding to the ecosystem narrative, Hedera recently transitioned its entire codebase to a fully open-source model under Project Hiero, managed by the Linux Foundation’s decentralized infrastructure wing. This governance shift is accompanied by a new Command Line Interface (CLI) tool that simplifies development and account management, aiming to lower barriers for builders. The convergence of steady ETF flows, a historically significant macro support test, and open-source progress keeps Hedera in focus even as the broader market environment remains cautious.
