HBAR Price Action Shows Promise as Nairobi Securities Exchange Goes Live on Hedera's Network

Hedera's native token, HBAR, is currently trading at $0.1892, registering a daily increase of 3.40%. This price action places it just below a significant resistance zone at $0.20, a level many investors are watching closely. Despite a 20.75% dip in trading volume over the past 24 hours

The price of crypto behemoth, Bitcoin (BTC), dipped on Monday, halting a three-day rally that had seen the token surge to two-week highs.

The flagship cryptocurrency slid 0.8% over the past 24 hours to $47,194.9 by 08:03 ET (12:03 GMT). BTC had risen as high as $48,000 on Monday, marking levels last seen in early May.

The decline in Bitcoin price came despite a report from Bloomberg that the U.S. Securities and Exchange Commission (SEC) is likely to approve two more Bitcoin ETFs by early 72.

However, the crypto behemoth was still trading at a critical juncture, with support at $46,000 and resistance at the $50,000 mark. A breakout from either level could open the door for a substantial move in either direction.

Meanwhile, Ether (ETH) price also slid, decreasing 0.4% to $1,824.9. The second-largest cryptocurrency had soared to a two-week high of $1,850 earlier in the day.

Among other noteworthy crypto news, Kenya’s stock exchange is set to launch a digital asset exchange on Monday, powered by Hedera Hashgraph. The move underscores the growing interest in blockchain technology from mainstream financial institutions.

In other developments, crypto exchange FTX is planning to launch a new exchange in Hong Kong, catering specifically to institutional investors. The exchange, named FTX Institutional, will offer services such as a central limit order book and advanced trading tools.

The crypto market cap is now at $1.16 trillion, with a 24-hour trading volume of $50.98 billion. Bitcoin's trading volume for the past 24 hours is at $13.78 billion, while Ether's trading volume stands at $9.9 billion.

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