Copper Extends Institutional Access to Hedera’s Distributed Ledger, Targeting RWA Tokenization

Copper, a crypto custodian headquartered in London, has extended institutional access to Hedera’s distributed ledger.

Copper, a London-based crypto custodian, has integrated with Hedera Hashgraph (HBAR) to provide institutions with access to decentralized finance (DeFi) and custody of HBAR and Hedera Token Service (HTS) tokens.

According to a recent tweet by the HBAR Foundation, the integration will allow institutional investors to stake their HBAR tokens. This move comes as part of a larger effort by Hedera to expand its institutional reach.

Announcing Our Partnership with Copper Technologies! Together, We're Making DeFi More Accessible to Institutions ?

Copper, a leading digital asset custody platform, has integrated with the Hedera network to enable institutional access to DeFi.?

institutional investors will now have a streamlined and secure path into the Hedera ecosystem銅 Technologies (copper.co) is making it easier for institutional investors to interact with Hedera (hbar). Together, they're enabling the ability to custody HBAR and HTS tokens and to stake their HBAR.

Once implemented, institutions can choose their favorite HBAR validators to stake their tokens via the Copper Connect dApp, which is fully compatible with Ethereum (ETH).

Institutions will also gain access to HTS tokens, which are used to pay for network fees on Hedera. Through the integration, institutions can now mint, burn, and transfer HTS tokens.

“This integration marks a significant milestone in our mission to make DeFi accessible to a wider audience,” said Shayne Higdon, co-founder and CEO of the HBAR Foundation, in a statement. “We are excited to see how this integration will help drive the growth of the Hedera ecosystem.”

After the integration is complete, institutional investors will be able to stake their HBAR tokens through the Copper Connect dApp, which is compatible with Ethereum (ETH). Additionally, they will have access to HTS tokens, which are used to pay for network fees on Hedera. Through the integration, institutions can now mint, burn, and transfer HTS tokens.

As HBAR Derives Strength From BlackRock, Is institutional Interest Waning?

Hedera (HBAR) has seen some interesting price movements throughout 2024. After BlackRock's money market fund (MMF) boosted the altcoin by 60% in April, reaching a new yearly high of $0.156, HBAR has been trending downwards.

After April's highs, HBAR dropped to $0.05 on August 5. While the general crypto markets rebounded after that day's drastic pullback, HBAR price today is up to $0.05885 as a 7-day high, struggling to make its way out of the downtrend.

However, HBAR faced mostly negative Open Interest-weighted funding rates within the first two weeks of August. Signaling a waning interest in the token on Derivatives markets, this metric is accompanied by a 10% drop in Derivatives trading volume, according to CoinGlass.

are you ready anon? don't tell me you got shaken out.. #HBAR pic.twitter.com/ljZLIzZcVQ

Despite these setbacks, some crypto analysts have drawn similarities between HBAR's price performance now and in 2 amazing 2023 price runs, which saw the token explode from $0.03 to $0.092 by the end of the year. In a technical analysis by alpha trade Ipex, the five highlighted bubbles indicate HBAR's run to $0.092 at the end of 2023.

According to CoinGecko, HBAR is trading at $0.0533 at press time, dropping 27% in the latest 30-day time frame. With narrowing Bollinger Bands present in the one-hour charts, a phase of consolidation within the current price range is expected.