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    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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    Enhancing Security in Online Gambling with Blockchain Technology

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    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

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    Base claims top 3 spot in 30-day NFT volume: DappRadar

    Base claims top 3 spot in 30-day NFT volume: DappRadar

    floor down up to 18% in the last week (week ended August 26, 2023), volumes still robust

    floor down up to 18% in the last week (week ended August 26, 2023), volumes still robust

    Blue chip NFTs sink double digits as ETH retreats from record highs

    Blue chip NFTs sink double digits as ETH retreats from record highs

    What’s Behind the Double-Digit Declines?

    What’s Behind the Double-Digit Declines?

    Telegram NFT Gifts Hit $57M in Sales as Users Rush In

    Telegram NFT Gifts Hit $57M in Sales as Users Rush In

    NFT sales drop 25% to $134m, CryptoPunks plunge 59%

    NFT sales drop 25% to $134m, CryptoPunks plunge 59%

    Ethereum Rules With $56.57M Sales, Solana and Polygon Compete

    Ethereum Rules With $56.57M Sales, Solana and Polygon Compete

    Defunct NFT lender Parallel Finance charges users $500 to withdraw assets

    Defunct NFT lender Parallel Finance charges users $500 to withdraw assets

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    How decentralization can mitigate ‘dystopic’ artificial intelligence risks: SingularityNET exec

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    What Is Impermanent Loss? How It Works, and How to Avoid It

    What Is an Algorithmic Stablecoin? How It Works and Why It Matters

    What Is an Algorithmic Stablecoin? How It Works and Why It Matters

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Home Altcoins

‘Blackrock did not select HBAR’ as altcoin falls 20% after tokenization rumors

April 25, 2024
in Altcoins
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‘Blackrock did not select HBAR’ as altcoin falls 20% after tokenization rumors
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CryptoGames now supports Tether (USDT) for deposits and announces partnership with Bitinvestor

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  • Bitcoin’s post-halving surge altered investor behavior, as shown by Blackrock’s ETFs.
  • HBAR surges 107% after tokenizing BlackRock fund; later drops 19%.

A recent event that has captured widespread attention is the remarkable performance of Bitcoin [BTC] following its halving.

This triggered significant shifts in investor behavior towards BTC, with one notable example being the extraordinary streak of 70 consecutive days of inflows into Blackrock’s Bitcoin ETF. 

Clearing the air around BlackRock’s involvement 

For the uninitiated, Blockchain firms Archax and Ownera tokenized BlackRock’s ICS U.S. Treasury Fund on the Hedera platform. This news led to a staggering 107% surge in HBAR’s value on the 23rd of April. 

Contrary to initial speculation suggesting Blackrock’s involvement with Hedera for the project, the reality appears to be different.

While the announcement fueled excitement and optimism, it became evident that Blackrock’s role was not as direct as initially implied.

Clearing the air around the aforementioned issue, Cardano Ghost Fund DAO founder Chris O’Connor took to X and noted, 

“Blackrock the actual institution did NOT select HBAR for tokenizing a fund of theirs. Blackrock had no involvement whatsoever and has no connection to the protocol.” 

Well, this did not just end here, Graham Rodford, CEO and co-founder of Archax Ltd, took to X and clarified, 

“If we decide to tokenise, arguably we do not need to approach the investment manager, but we always do as we want long-term relationships.”   

He added, 

“The investment manager’s level of involvement can vary but both Abrdn and Blackrock were aware that we were tokenising on Hedera.”

In a separate interview with crypto YouTuber Jesus Martinez., Rodford also said, 

“What we saw on Twitter was kind of pretty much close to the truth […] Archax had clients that wanted to invest in the BlackRock money market fund. When they expressed an interest we opened an account at BlackRock so that we could,”

HBAR’s market trend

However, despite these explanations, the community seems to be on a bearish curve when it comes HBAR.

See also  Ethereum falls to a 5-year low - Is inflation to blame?

According to CoinMarketCap, HBAR dropped by over 20% in the past 24 hours and stood at $0.1135 at press time, signaling strong selling pressure.  

Next: BONK booms 60% last week – What do the next 7 days hold?

Tags: AltcoinBlackRockFallsHBARRumorsselecttokenization

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Memecoin Project Obama6900 (OBX) Joins the Fight Against Malaria with Long-Lasting Insecticidal Nets (LLINs)

Memecoin Project Obama6900 (OBX) Joins the Fight Against Malaria with Long-Lasting Insecticidal Nets (LLINs)

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Tezos 2023 Outlook: An Overview of Tezos (XTZ)

Tezos 2023 Outlook: An Overview of Tezos (XTZ)

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UK risks regulating NFTs the wrong way, says Mintable CEO

UK risks regulating NFTs the wrong way, says Mintable CEO

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Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

August 3, 2024
How to Earn Keys to Boost Your HMSTR Airdrop

How to Earn Keys to Boost Your HMSTR Airdrop

September 10, 2024

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EDITOR'S PICK

Litecoin ETF Rumors Fuel 10% Surge, Institutions Hint At Interest

Litecoin ETF Rumors Fuel 10% Surge, Institutions Hint At Interest

March 27, 2024
Inverted Hammer Appears On The XRP Price Chart, Crypto Analyst Picks First Target Of $0.75

Inverted Hammer Appears On The XRP Price Chart, Crypto Analyst Picks First Target Of $0.75

June 7, 2024
Unstoppable Domains Recognized as one of America’s Best Startup Employers for 2023 by Forbes

Build an Onchain Website with Unstoppable

September 15, 2024
SuiPlay Introduces Perks with Eternal NFTs and Airdrop Rewards

SuiPlay Introduces Perks with Eternal NFTs and Airdrop Rewards

December 4, 2024

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