Hedera's HBAR surges 49% as UK banks adopt blockchain technology

Hedera's native cryptocurrency, HBAR, has experienced a significant surge, increasing by 49% over seven days to reach a trading price of $0.23. This rally was driven by substantial adoption from major UK financial institutions and new partnerships within the government sector. The market capitalization of the token has grown to nearly $10 billion, highlighting its growing prominence in the cryptocurrency landscape.

Lloyds Bank and Aberdeen Investments have made history by completing tokenized asset settlements using Hedera's blockchain infrastructure. This groundbreaking use of Hedera's network for digital asset transactions involved processing digital representations of Aberdeen's money market fund and UK government bonds through the Hedera Hashgraph blockchain. These transactions marked a significant milestone for regulated blockchain adoption in traditional finance, as all procedures adhered to existing UK financial regulations and compliance standards. The successful implementation demonstrates how established financial institutions can integrate blockchain technology within current regulatory frameworks, setting a precedent for broader blockchain adoption across UK banking.

Beyond financial services, the Hedera Foundation has announced a collaboration with Accenture and EQTYLab focused on public sector applications. This partnership aims to develop AI tools that provide greater transparency and accountability in government operations. These systems will run on Hedera's blockchain infrastructure to create immutable records of automated decision-making processes, addressing growing concerns about AI transparency in public administration. By leveraging blockchain technology, government agencies could provide citizens with clearer visibility into how artificial intelligence systems reach decisions, representing a significant expansion of Hedera's use cases beyond traditional cryptocurrency applications. This collaboration may pave the way for broader adoption of blockchain-backed AI systems across government agencies, where public accountability requirements make this sector particularly suited for distributed ledger technology's transparency benefits.

Technical analysis of HBAR's price action shows a breakout from a falling wedge pattern, typically associated with bullish momentum shifts. The move occurred on increased trading volume, indicating strong buyer interest after months of consolidation. This pattern suggests the end of a prolonged correction phase, with weekly closes above key resistance levels potentially accelerating the upward movement. The analyst also suggests 90% odds for spot HBAR ETF approval in 2025, which could drive additional institutional investment.

Hedera's recent partnerships with major financial institutions and government sector initiatives demonstrate growing real-world blockchain adoption. The combination of technical breakout patterns and fundamental developments positions HBAR for continued upward momentum, with analysts targeting $0.70 as the next significant resistance level. The successful implementation of Hedera's technology in major banking institutions and government agencies highlights its potential for broader adoption and integration into traditional financial and public sectors.