Hedera’s HBAR Rises as Grayscale Adds Token to Smart Contract Fund, Dropping Polkadot
Hedera’s native cryptocurrency HBAR climbed nearly 2% over the past 24 hours after asset manager Grayscale Investments announced it was adding the token to its Smart Contract Platform Fund, replacing Polkadot (DOT) during its latest portfolio rebalancing on Monday.
At the time of writing, HBAR was trading around $0.1614, extending gains of roughly 11% over the past week.
“In accordance with the CoinDesk Smart Contract Platform Select Capped Index methodology, Grayscale has rebalanced the GSC Fund by selling Polkadot (DOT) and reallocating the proceeds into Hedera (HBAR) and other fund components,” the firm said in a statement.
After the adjustment, HBAR now makes up 5.8% of the fund, joining other prominent holdings like ether (ETH), solana (SOL), cardano (ADA), sui (SUI), and avalanche (AVAX).
Market signals suggest institutional investors could be driving HBAR’s price stability. During the final hour of trading, HBAR remained confined to a tight 2% range—a sign of steady accumulation rather than volatile retail trading.
Notably, trading volumes spiked in the afternoon, with large transactions of 77.7 million, 145.7 million, and 97.5 million tokens recorded—well above typical daily averages. Analysts believe this surge may indicate strategic positioning ahead of potential enterprise announcements related to Hedera’s network.
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