Bybit News: Hedera (HBAR) Experiences Bullish Rally Despite Recent Hack-Related Crash

A summary of recent developments and price movements in the cryptocurrency market concerning Hedera (HBAR).

Hedera (HBAR) Price Prediction for March 19

In the past 24 hours, the price of Hbar has seen a strong bullish rally with a gain of 3.9%, reaching a high of $0.1843. The trading volume has decreased by 10% to $195 million. Over a longer timeline, Hedera’s price dropped below $0.39 on December 3 and has been decreasing since then, crashing heavily on February 3 to below $0.2, partially due to a hack in Bybit. In the last 24 hours, Hedera’s market capitalization surged by 3.4% to $8.11 billion. The HBAR funding rate remains positive, and the price is showing signs of increased volatility as it approaches $0.2.

Ledger CEO Highlights Increased Institutional Focus on Security Post-Bybit Hack

Ledger CEO Pascal Gauthier revealed that numerous institutions contacted him following the Bybit hack, seeking to address security vulnerabilities. These companies also sought liquidity access from self-custody or regulated custodians. Gauthier emphasized that security was not static but constantly evolving and was a necessity, not an option. He cautioned about security vulnerabilities in crypto companies and stated that the Ledger team was knowledgeable and concerned about security in the aftermath of Bybit.