HBAR Price Skyrockets 160% in a Week as Brian Brooks Emerges as Potential SEC Chair

HBAR has taken the crypto market by storm, surging almost 160% in the past week, including a 30% rally in the last 24 hours, currently trading at $0.144.

Cryptocurrency HBAR has enjoyed an impressive surge in the past week, rising almost 160% and currently trading at $0.144. This meteoric rise is largely attributed to speculation surrounding Brian Brooks, a member of Hedera's board, being nominated for the role of U.S. SEC Chair.

The buzz began when Donald Trump hinted at replacing Gary Gensler, a polarizing figure in the crypto world, with Brooks, who is known for his expertise in blockchain. Previously, Brooks was nominated by Trump twice for Comptroller of the Currency and also served as Binance US CEO.

If confirmed, Brooks' leadership could foster a more crypto-friendly regulatory environment, which is spurring optimism among investors.

HBAR's trading volume also surged 244% to $2.06 billion, indicating heightened market activity. The token's market cap now stands at $5.3 billion, signaling strong momentum.

Betting platforms like Kalshi show Brooks gaining traction in predictions for the next SEC Chair, with 48% of votes, trailing Dan Gallagher at 25%. However, Brooks's increasing visibility, thanks to his nomination and Hedera's developments, has bolstered his position.

This price rally is also supported by recent collaborations and network advancements, cementing Hedera's reputation as a robust public blockchain network. With HBAR up 171% for the month, the token continues to captivate the market as investors await further updates on Brooks's potential appointment and the ETF filing.

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