Can Hedera hit 1$ in this bull market?

HBAR price chart | Source: crypto.newsPotential catalysts for Hedera

Hedera has several catalysts that may push its price to $1 and above. First, the rally will depend on Bitcoins performance. Analysts are highly bullish on Bitcoin, citing the surging ETF inflowsand falling exchange supplies. Institutions like Strategy, MetaPlanet, and BlackRock have continued to buy Bitcoin this year. A strong Bitcoin surge would help other altcoins like Hedera.

HBAR price will also benefit from the potential ETF approval by the SEC. The agency has already approved HBAR ETF applications by Grayscale and Canary Capital, and Bloombergs Eric Balchunas believes they stand a chance of approval.

Hedera also hopes to be a major player in the tokenization industry and has already inked several partnerships. It recently partnered with Tokeny Solutions, which works with top firms like Credit Agricole and ABNB Amro. Companies will likely choose Hedera for their RWA solutions because of its low transaction fees.