tl;dr
VanEck reports significant institutional adoption of Hedera (HBAR), noting a 70% price increase in July driven by partnerships, network growth, and institutional legitimacy. Key developments include the Reserve Bank of Australia's Project Acacia using Hedera for tokenized asset markets and Archax, t...
Crypto asset management giant VanEck has identified significant institutional adoption signals for the altcoin Hedera (HBAR). According to a recent report, Hedera’s ecosystem experienced a remarkable price increase of over 70% in July, driven by a surge in partnerships, network growth, and expanding institutional legitimacy.
VanEck points to notable institutional engagement, such as the Reserve Bank of Australia’s Project Acacia, which explores the development of Australian wholesale tokenized asset markets using the Hedera network. Additionally, Archax, the UK's first regulated global digital asset exchange, has announced plans to utilize Hedera for settlement purposes, further underscoring the network's growing institutional traction.
The report also highlights emerging institutional tokenization activities, mentioning that Archax created Hedera token contracts named after major financial entities like BlackRock, Fidelity ILF, State Street, Aberdeen Investments, and LGIM. These tokens represent money market funds that may soon transact in HBAR, reflecting early interest in real-world asset tokenization still in the prelaunch stage.
Moreover, VanEck notes a substantial increase in stablecoin supply on Hedera, driven almost entirely by Circle’s USDC. Data from DefiLlama confirms strong on-chain activity, with a surge in transactions and stablecoin issuance contributing to the network’s dynamic growth.