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How are the coins Hedera (HBAR), Sei (SEI), and Celo (CELO) performing within the crypto market? Let’s look at some price predictions and the latest news about them in this article.
Summary
Canary Capital pushes towards innovation with the first HBAR Trust in the United States
The recent launch of the first HBAR Trust in the United States, announced by Canary Capital under the leadership of Steven McClurg, has sparked the debate on a possible launch of a Hedera ETF.
This trust represents a significant step for institutional investors interested in diversifying their portfolios with next-generation cryptocurrencies.
HBAR, the native cryptocurrency of the Hedera network, stands out for the effectiveness of its distributed ledger technology, which perfectly adapts to the needs of the institutional market.
The launch comes in a context of growing attention towards cryptocurrency ETFs, with products on Bitcoin and Ethereum already present in the US market.
Canary Capital aims to open new opportunities for institutional investors, offering direct access to more sophisticated and innovative instruments compared to traditional retail products.
While confidence in the cryptocurrency sector continues to grow, speculations about a future Hedera ETF are increasing, in parallel with similar discussions about Solana and XRP.
However, despite the enthusiasm around the launch of the trust, the market has seen a decline in the price of HBAR, reflecting a broader downturn caused by global economic concerns.
the price of HBAR has indeed slipped by almost 6% recently, in the midst of a broader market downturn. Its trading volume has increased by nearly 10% to about 56.67 million dollars.
SEI exceeds expectations: bull prospects for Solana’s competitor
The cryptocurrency analyst The Flow Horse has recently expressed strong optimism regarding SEI, an emerging cryptocurrency that is rapidly gaining ground as a direct competitor to Solana (SOL).
After breaking a significant resistance at $0.40, SEI has attracted the attention of many investors, prompting the analyst to revise their outlook on the project positively.
Currently, SEI is being traded around $0.469, recording a 4% increase in the last day and confirming its bull momentum in the market.
According to The Flow Horse, overcoming this key resistance, which has held back SEI for several months, represents an important signal for the future of the cryptocurrency.
Despite a temporary dip that saw it fall below the $0.50 threshold, the analyst remains optimistic about SEI’s long-term potential.
He also emphasized how, despite a possible drop in trading volumes over the weekend, SEI remains an interesting bet for bull investors.
The analyst compared SEI with other altcoins, such as Shiba Inu (SHIB), which could instead offer short-term selling opportunities.
In an ever-evolving altcoin market, SEI seems to stand out thanks to its ability to overcome significant technical hurdles.
However, The Flow Horse invites caution, reminding investors to maintain a flexible strategy, given that the volatility of altcoins can hold surprises.
Despite the pitfalls, the overall picture seems promising for SEI, which could continue to grow, strengthening its position among the emerging cryptocurrencies.
The price of Celo and the comparison with the crypto Hedera and Sei
The co-founder of Ethereum, Vitalik Buterin, recently praised Celo for its progress in improving access to digital financial services.
In the meantime, the blockchain platform continues to gain traction in the cryptocurrency landscape. Celo has recently surpassed TRON in the number of daily active addresses using stablecoin, a sign of the growing use of the platform.
This has caught the attention of Buterin. Furthermore, Celo is considering the migration to an Ethereum Layer-2 (L2), a strategic move that could increase its interoperability and further reduce transaction costs.
Buterin has expressed his support for the Celo ecosystem, praising its efforts to make global payments and financial services more accessible, particularly in emerging markets.
He emphasized that the migration to an L2 could be a positive move to strengthen the Ethereum network and improve its capabilities, with positive implications for both platforms.
The growth of stablecoins on Celo has been a key factor in its recent success, with the minting of 200 million dollars of USDT by Tether further signaling strong future interest in the platform.
The transition of Celo to Ethereum L2, proposed by the cLabs team in July 2023, aims to maintain the key features of speed and low cost, while ensuring greater integration with the Ethereum ecosystem.
The test networks Dango e Alfajores are already operational to ensure a smooth and seamless migration, with the official launch of the Layer-2 mainnet scheduled for November.
Despite the optimism surrounding this transition, Buterin has recently warned about the possibility that some Layer-2 projects might fail.
Specifically indicating that the success of these initiatives will be clear by December. However, the potential of Celo to play a significant role in the next phase of blockchain evolution remains promising.