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Hedera's market rollercoaster just got real. The token's sitting at $0.115 now—a brutal 50% tumble since October, even after Wyoming picked it for the groundbreaking first US state stablecoin initiative. Plot twist? The institutional momentum keeps building. CME just rolled out HBAR futures today, which signals serious market infrastructure development. Meanwhile, Vanguard's spot ETF access just opened doors to 50 million accounts—that's real distribution power. Over in Georgia, the government inked a blockchain land registry deal, proving state adoption isn't just hype. Here's the thing though: when governments choose infrastructure, they're not always picking the sexiest token. They care about technology fit, regulatory alignment, and operational stability. So while the price reflects uncertainty, the adoption layer tells a different story. The gap between what builders are doing and what the market's pricing in? That's where it gets interesting.