Hedera Hashgraph, Katzen price increased as traders looked at Vanguard
Cryptocurrencies were fairly mixed on Monday as Bitcoin remained stubbornly above an important support level at $90,000. The Hedera Hashgraph (HBAR) token rose to a high of $0.1490, its highest level since April 24 and 256 percent above its lowest point this month.
Similarly, Citizen ( CATI ), the popular Telegram play, jumped for four straight days, hitting a high of $0.70, its highest level since September. In particular, investors continue to look to the upcoming cryptocurrency Vanguard, which is looking to create a meme coin index fund.
Why Hedera Hashgraph and Katizen are up?
The Hedera Hashgraph Token rose after a leading company filed for the HBAR ETF in the United States. This app is benefiting from the recent election of Donald Trump, which could usher in a new era in the crypto industry.
Unlike Joe Biden, Trump has skin in the game and has come out in support of the crypto industry. Therefore, there is a possibility that the SEC will approve new crypto ETFs at a faster pace in the coming year.
Hedera Hashgraph is seen as a good candidate for EFF because of its use case and as a member of the governing council of influential companies such as Google, Mondelez and IBM.
The main issue with Hedera is that it is often low volume and does not attract many developers in the ecosystem. As such, even if ETFs are approved, it is unclear whether they will gain traction with institutional investors.
In contrast, Citizen is a leading player in the on-demand ecosystem, growing rapidly over the past few months. As can be seen below, the rebound was mostly due to technical reasons as it formed a falling wedge pattern before the rebound. There is a possibility that the token could rise to a high of $1.2, which is about 60% of its current level.
The Vanguard token sale is accelerating.
Meanwhile, investors have turned their attention to popular crypto project Vanguard, which is currently undergoing a token sale. Vanguard has raised more than $844,000 from investors, a trend that could continue as Mame coins jump.
Vantard is based on the idea that meme coins will perform well over time. Recent data shows that meme tokens like Dogecoin, Floki and Dogwifhat have outperformed major cryptocurrencies like Bitcoin and Ethereum.
Vantard's strategy is to create a meme coin index fund that tracks the biggest and most promising tokens in the industry. So, instead of investing in all these coins, one can buy the VTARD token and gain exposure to some of the best coins.
Developers hope their tokens will prosper as Trump is set to ease cryptocurrency regulations, and the Federal Reserve is expected to continue cutting interest rates until 2025. You can find out more. vantard here.
