Hedera’s HBAR token staged a powerful breakout on September 28, rising roughly 30% to trade near $0.1247 on Binance after opening the daily session around $0.09586. The intraday high reached $0.12576, a move that took the token above the psychologically important $0.10 level and past its upper Bollinger Band at $0.11346. Over the past week, HBAR climbed from $0.0788 on September 19 to an intraday high of $0.1155 on September 28 before extending higher.
The primary catalyst behind the rally was a report that BlackRock’s ICS US Treasury Money Market Fund shares are being tokenized on Hedera through Securitize. The fund reportedly held about $37.97 billion in net assets as of September 24, although official confirmation that these shares are being tokenized specifically on Hedera remained important. The development added to growing real-world asset tokenization interest and came alongside stronger altcoin performance. A September 26 reading put the Altcoin Season Index at 71, up from 44 a week earlier but still below the 75 threshold for broad altcoin season. HBAR also gained against Bitcoin, with the HBAR/BTC rate up 27.27% over 30 days.
Enterprise and AI-related news added further attention. The Hashgraph Group announced on September 23 that its Hedera-based IDTrust platform had been validated and listed on the IBM Cloud Catalog, giving enterprises access to identity infrastructure for AI agents, devices and people. On September 28, Hedera pointed to council representation in NVIDIA’s Open Agent Safety Platform announcement, sharing an image from NVIDIA CEO Jensen Huang that included Accenture and EQTY Lab. Hedera’s Consensus Service is already used to create timestamped records of AI actions in a public-sector project involving Accenture and EQTY Lab, although the new NVIDIA announcement did not specify a new deployment on the Hedera network or resulting transaction volume.
Technical analysis highlighted the breakout’s scale. Trader Doctor Profit noted that every time HBAR crossed its 50-week moving average, strong upside followed, pointing to historical moves of 1,610%, 224%, 428% and 218% from prior ranges. He said he was buying as the token broke out and linked the setup to tokenized finance, citing QNT and ONDO as examples of tokens that recently posted large moves. On the daily chart, the relative strength index reached 81.03, above the overbought threshold of 70, while the 4-hour ADX read 34.56, indicating a strong trend. Key levels to watch included $0.109, $0.101 and $0.121, with potential upside toward $0.12817 and $0.13428 if the breakout continued. A CoinGlass liquidation heatmap showed the largest remaining cluster below price near $0.108, followed by bands near $0.105 and the $0.10 area. The upcoming U.S. PCE inflation report on September 30 was also flagged as a possible source of crypto volatility around these levels.
