Hedera prices surge 27%: IBM's listing helps HBAR outperform the market

Hedera HBAR token price analysis: Market dynamics behind IBM's cooperation and German investor guide

On September 28, 2026, at 12:48 UTC, Hedera's (hash chart) HBAR token closed at US$0.1217, up 27.3% from 24 hours ago (Data source: CoinGecko). During the same time period, the broader market trend reversed: Bitcoin fell 1.8% and Ethereum fell 1.2%. The direct trigger for this wave of rise was not market hype, but a corporate announcement released on September 23: Switzerland's Hashgraph Group announced that its identity platform IDTrust based on Hedera has been verified by IBM and officially joined the IBM Cloud Catalog.

For German investors, this raises two questions that need to be answered separately: First, what happened and did it drive up prices? Second, if you plan to buy, hold or sell HBAR, what is the specific operating process? What are the tax costs? And what are the pitfalls in asset custody?

HBAR price trend: 27% increase in 24 hours, and 63% monthly increase

The above data comes from the call to the CoinGecko interface at 12:48 UTC on September 28, 2026. HBAR's trading price is US$0.1217, equivalent to 0.1070 yuan in euros. The intraday low in the past 24 hours was $0.0931. The difference between the current price and the low is about 31%, indicating that the market was completed in a single day rather than accumulated over weeks.

从更长周期的视角来看，HBAR在过去7天内上涨35.3%，14天内上涨58.7%，30天内上涨62.9%。然而，过去一年间整体跌幅为41.6%。这意味着，尽管近期出现反弹，但在一年前买入HBAR的投资者仍处于亏损状态。

目前Hedera的市值为53.3亿美元（约合46.9亿欧元），在所有加密资产中排名第25位。过去24小时的交易量约为8亿美元，约占市值的15%。如此庞大的交易量表明，此次价格上涨是由真实的交易活动驱动的，而非由少量订单在薄弱的订单簿中推动。

目前流通中的HBAR数量为438.3亿枚。协议规定的最大供应量为500亿枚，且不可更改。因此，总供应量中约有88%已经发行。我们在9月21日的另一篇文章中曾指出，当时Hedera的交易量增速快于其价格增速；而目前这一差距已反向逆转。

IDTrust入选IBM云目录：Hashgraph Group于9月23日宣布的事项详解

Hashgraph Group（简称THG）是一家总部位于瑞士施维茨的技术公司，致力于在Hedera技术基础上构建企业级应用。2026年9月23日，该公司发布了一份包含三个具体要点的公告，所有内容均可核实：

1. IBM验证与上架：IDTrust has been verified by IBM and is officially listed in the IBM Cloud Catalog. According to THG, this is the first Hedera-based commercial enterprise application that can be purchased directly as a software subscription through major cloud markets.
2. IBM Silver Partner Status: THG received IBM Silver Partner Status, which requires meeting specific technical certification requirements.
3. Global Embedded Solutions Agreement: The two parties signed a Global Embedded Solutions Agreement. This is a licensing contract that allows partners to integrate IBM technology into their products and sell it as a single solution, using their own brand name.

THG co-founder and CEO Stefan Deiss said in an announcement that companies are deploying AI agents on a large scale that can negotiate contracts, process sensitive data and independently execute financial transactions. He raised a question of common concern: "How can I confirm that this agent has the right to act on my behalf?" Naemi Benz, IBM representative responsible for the partner ecosystem in Germany, Austria and Switzerland, said that IBM has recognized the commercial potential of Web3 solutions, and THG's agent-capable identity infrastructure work on Hedera is highly consistent with this.

With IDTrust, it is the software itself that needs to have provable credentials, not the person behind the screen.

Know Your Agent (KYA): Verified Identity for Enterprise AI Agents

KYA（Know Your Agent，了解你的智能体）是金融领域常见术语“KYC”（Know Your Customer，了解你的客户）的延伸。KYC描述的是服务提供商确立客户身份的义务，而KYA则将这一概念延伸至软件领域：当AI智能体以公司名义下单或批准操作时，交易对手必须能够检查该智能体是否有权这样做，以及其背后的主体是谁。

为了说明这一需求的紧迫性，THG的公告引用了研究机构Gartner的预测：预计到2026年底，约40%的企业应用将包含任务专用的AI智能体，而2025年的这一比例不到5%。作为进一步佐证，公告提到Akamai于6月联合Visa和Experian推出了自己的智能体验证程序。需要注意的是，这些数据及参考案例均来自公司自身的公告，属于厂商对其市场的论证，而非独立的第三方测量结果。

这对价格的影响在于：Hedera多年来一直将自己定位为面向企业的网络，而非投机工具。进入IBM这样的集团采购目录是一个销售渠道，而非广告横幅。随之而来的收入情况，以及这些收入是否能反映在HBAR价格上，是另一个未决的问题。

DIDs、可验证凭证与eIDAS 2.0：IDTrust堆栈中的技术核心

据提供商介绍，IDTrust是一个去中心化身份（SSI, Self-Sovereign Identity）平台。该模型描述了一种机制，即凭证由持有者保管，无需向中央发行商的数据库查询。

实现这一机制依赖两个构建模块：

• 去中心化标识符（DID）：一种无需中央注册机构即可创建和验证的标识符。
• 可验证凭证（VC）：关于该标识符持有者的数字签名声明，例如证明特定智能体被授权执行特定任务。

这两种格式均由W3C标准组织描述，因此并非内部发明。THG指出，该平台正在与欧洲eIDAS 2.0框架对齐，该框架规定了欧盟电子身份识别的法律要求。在技术层面，公告还提到了MCP服务器，IBM watsonx Orchestrate环境中的AI智能体可通过这些服务器获取自身的身份凭证。每个签发的凭证都锚定在Hedera账本上，从而产生不可篡改的权限记录。

据该公司称，该应用已在一家欧洲电信运营商处投入使用，用于验证呼叫者身份。此外，公告还列举了过去12个月内的合作伙伴关系：与默克集团（Merck group）合作欧盟数字产品护照，与普华永道（PwC）合作排放证书基础设施，以及与物流提供商Teleport合作东南亚海关文件。

Hedera网络：质押共识中HBAR的作用

Hedera采用权益证明（Proof-of-Stake）机制，节点在共识中的影响力取决于分配给它的HBAR数量。根据官方文档，只有当持有超过三分之二所有质押HBAR的节点处理了交易后，该交易才算确认。

由此产生的实际影响是：在此网络中，HBAR既是支付费用的手段，也是构成系统安全性的基础材料。通过IDTrust锚定在账本上的每个凭证都会生成交易，而交易需要支付HBAR费用。这就是业务使用理论上转化为代币需求的路径。这条路径在实际中承载了多少份额，取决于Hedera未公开披露的各应用程序的具体交易量。

关于质押本身，Hedera文档指出了欧洲常有的两个误解：

1. 无锁定期：质押余额始终可用，可随时交易，无需等待。
2. 奖励由理事会设定：奖励规模由Hedera理事会设定并在主网上更新，不由市场形成。奖励不会过期，但如果期间未触发支付，只能收集最近365天内的奖励。

距离2021年历史高点仍有79%差距：即便反弹也不容忽视

单日上涨27%的数据若放在长期记录中审视，意义则有所不同。HBAR的历史最高价为0.5692美元，出现在2021年9月15日。从当前水平算起，距离高点仍有78.6%的缺口，意味着价格需要翻两番以上才能达到此前的高点。

There are two verifiable key prices in the coming days that are more valuable than any price target:

• Downward support: The past 24-hour low is at US$0.0931; if prices fall back here, all gains for the day will be erased.
• Upward resistance: The next objective reference point is the level twelve months ago. Only by breaking through this level can buyers entering the market in the fall of 2025 regain profits, which is around US$0.208 (corresponding to a full-year decline of 41.6%).

In addition, various price targets circulated come from the views of mainstream research institutions. When reading such data, check whether the source and date are indicated. We deliberately do not list specific names here because we cannot verify the rigour of any of these deductions.

Buying HBAR in Germany: MiCA Authorization and Exchange Path

With the full entry into force of the European Union's Cryptographic Asset Market Regulation (MiCA), trading platforms can only provide services in Germany if they are authorized by a "Cryptographic Asset Service Provider". This is the primary test criterion for investors. Providers without this authorization are not allowed to serve users in Germany and in the event of a dispute, users will not be protected by the European regulatory framework.

HBAR is listed on major European exchanges, and buying is not a niche activity. The key is the cost: bid-ask spreads, transaction fees, and the withdrawal fee when subsequently transferring tokens to your own wallet. The differences in these three fees between different providers are much greater than the differences in the prices themselves. For which platforms are authorized in Germany and their charging standards, please refer to our comparative analysis of cryptocurrency exchanges.

There is an order issue that is easy to ignore on a day when the market is up: Buying on a day when the market is up 27% in a day means you have paid the cost of the jump. This is only a statement about the entry price, not a warning. Entering the market through a fixed investment plan is precisely to spread this risk.

Holding periods, tax exemptions and pledge income: HBAR's tax rules

For individual investors in Germany, the proceeds from the sale of crypto assets are "private disposal transactions" as defined in Article 23 of the Income Tax Act. The following two data determine your tax burden:

1. Holding period: If you sell one year after you buy, the proceeds are tax-free. If it is sold within one year, it will be taxed at the personal income tax rate.
2. Exemption: If the total proceeds from all private disposal transactions in a calendar year are less than € 1,000, no tax is required. Once this limit is exceeded, all proceeds will be subject to tax, not just the excess. This is different from the "exemption amount", which can cause significant financial losses under critical circumstances.

来自质押的收入由税务机关单独视为“其他收入”。这些流入需按到账当日的市场价值确认，并适用一个明显较低的独立免税额。由于Hedera没有锁定期且奖励不定期到达，积极质押会迅速产生大量小额流入，每笔都有各自的日期和价格。如果没有清晰的记账，后期很难重建。

本文不构成税务建议。如果你的情况涉及大额资金、质押收入或在一年期内出售，请务必咨询税务顾问。

Nasdaq上的Canary HBAR ETF：德国散户投资者无法触及的途径

在美国，自2025年秋季以来一直存在一只追踪HBAR的交易所交易产品。Canary HBAR ETF向美国证券交易委员会（SEC）提交的截至2026年6月30日的季度报告显示，该基金在Nasdaq以代码HBR交易，由Canary Capital Group管理。

报告中的两个数据颇具启示意义：截至2025年12月31日，该信托持有473,456,805枚HBAR，公允价值为5,060万美元。截至2026年6月30日，持仓增至663,209,584枚，但估值降至4,620万美元。持仓代币数量增加了约40%，但美元价值却下降了。该产品在该半年度内虽有资金流入，但价格下跌的影响超过了流入金额。

对于德国散户投资者而言，该产品通常不可交易。美国基金不符合欧洲PRIIPs法规下的关键信息文件（KID）要求，而没有该文件，欧盟经纪商不得向零售客户提供购买服务。欧洲有哪些具有授权地位的交易所交易替代方案，以及它们与直接购买有何不同，可参考我们的德国加密ETF概览。

存储HBAR：账户ID、自动续期与常见陷阱

Hedera的托管方式与你熟悉的以太坊或比特币网络不同，这正是提币失败的主要原因：

1. 账户ID：Hedera上的地址是一个形式为0.0.x的账户ID。在向其发送任何资产之前，必须在网络上创建该账户。仅生成密钥对的新钱包是不够的。如果将HBAR从交易所发送到尚未创建的账户ID，可能导致提币失败或资金无法追踪。
2. 运营成本：Hedera上的账户和条目具有续期逻辑，会产生HBAR费用。如果一个账户中没有足够的HBAR支付这些费用，就不应将其闲置数年。因此在提币前请检查三点：确保目标账户存在且钱包显示了账户ID；先发送小额测试转账；并确保钱包确实支持该代币。

如果你持有较大数额，私钥不应存放在每天连接互联网的设备上。这不仅适用于Hedera，也适用于任何可能在方向上产生三位数百分比波动的任何加密资产。

Hedera反弹：要点总结

此次行情有明确的触发因素，即分销协议，而非收入报告。这种区别在当天并未完全反映在价格中。无论市场如何波动，以下三步建议均具合理性：

• 记录你的持有期：在考虑出售前，记录每一笔HBAR持有的购买日期、数量和价格。一年的持有期决定了税率，且无法事后补造。相关工具可参考我们的加密税务工具对比。
• 重新计算质押条款：由于Hedera无锁定期，回报取决于奖励规模及其税务记录方式；可用性已是既定事实。其他平台的处理方式可参考我们的质押服务商概览。
• 在移动资产前解决托管问题：创建Hedera账户ID并用小额资金测试提币。适合的设备可参考我们的硬件钱包对比。

本文资料来源为Hashgraph Group于2026年9月23日的公告以及Hedera关于质押的官方文档。两者均可直接查阅。截至2026年9月28日。本文不构成投资建议。价格和费用结构可能会发生变化；购买前请与提供商核实条款。