Hedera’s native token, HBAR, has climbed nearly 20% in the past 24 hours, tracking a broader recovery across the cryptocurrency market following Monday’s sharp downturn.
Driving the sudden interest in HBAR is speculation surrounding a potential collaboration with Nvidia (NASDAQ: NVDA). While not confirmed through official channels, comments reportedly made by a senior Nvidia executive have fueled excitement, suggesting that Hedera may be integrated into Nvidia’s AI ecosystem to support real-time data verification and decentralized infrastructure.
At the time of writing, HBAR is trading at $0.1642, marking a 19.43% gain on the day.
HBAR derivatives data reflects rising market optimism
Despite the lack of formal confirmation of a direct partnership, traders have continued to pile into HBAR.
With the token showing strong upward momentum, the market appears to be betting on Hedera’s potential role at the intersection of blockchain and artificial intelligence. Derivatives data reflects this rising interest, with trading volume up 29.24% and open interest rising 16.98%, indicating growing market participation.
Long/short ratios on Binance and among top trader accounts reflect a clear bullish bias, while liquidation data points to a significant short squeeze. More than $662,000 in short positions were liquidated in the past 12 hours alone, indicating the current upward pressure. This combination of rising interest and aggressive short liquidations supports a short-term bullish outlook for HBAR.
Featured image via Shutterstock