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Breaking News: LINK Price Climbs Following Chainlink's Deal With US Commerce Department, Eyes $30
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Breaking News: LINK Price Climbs Following Chainlink's Deal With US Commerce Department, Eyes $30

Hedera (HBAR) Blooms 21% – Uncloaking The Factors Behind The Rise

Christian Encila
Christian Encila
2 years ago
3 mins read
Hedera

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Hedera (HBAR) has stolen the limelight by becoming the highest-gaining cryptocurrency in the past 24 hours. As investors eagerly accumulate, the token’s price exhibits a roller-coaster ride of volatility. While optimism fuels the anticipation of a price rally, caution is advised as HBAR’s Bollinger Bands cast a shadow of uncertainty over its immediate future.

At the time of writing, HBAR’s price is recorded at $0.071 according to CoinGecko, reflecting an 8.1% rally over the past 24 hours. Impressively, the token has experienced a seven-day surge of 21.3%, underlining its significance in the market’s recent performance.

Hedera price action today. Source: Coingecko

Hedera Price Roller-Coaster And Its Indicators

The token’s recent performance showcases its resilience amidst market dynamics, but investors should be prepared for its volatile nature. Bollinger Bands, a widely-used technical analysis tool, serve as a flashing signal of HBAR’s ongoing turbulence. 

A price analysis notes that token is currently trading above the upper band of the indicator, implying a potential overbought situation. Moreover, the notable disparity between the upper and lower bands accentuates the prevailing high volatility. This discrepancy warns of an imminent correction, underscoring the capricious nature of HBAR’s market behavior.

Today, @droppcc, the micropayments solution built on @Hedera and fuelled by #HBAR, was showcased as a service provider for FedNow, the instant payment service developed by the @federalreserve 🇺🇸

Catch up with @SushilDropp (CEO, Dropp) as he explains the #Hedera integration: pic.twitter.com/4HbZqlwghl

— HBAR Foundation (@HBAR_foundation) August 14, 2023

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XRP Volume Jolt: How Did The $3 Billion Surge Impact Price Action?

1 year ago

The surge in HBAR’s value can be attributed to a significant development in the coin’s ecosystem. News of the United States Federal Reserve’s endorsement of the FedNow payment system, which integrates support for Dropp—a micropayment platform built on the Hedera Network—has undoubtedly propelled the value of HBAR. 

This latest endorsement follows a series of positive strides for Hedera. In the preceding week, the network cemented its commitment to a “blockchain-powered future” by becoming a part of Blockchain for Europe. 

HBAR market cap currently at $2.3 billion. Chart: TradingView.com

Hedera Transactions, User Base Climb

Amidst the market’s tumult, Hedera’s accomplishments continue to underscore its prowess. The recent celebration of processing 17 billion transactions on its blockchain stands as a testament to its efficiency and scalability. 

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Toncoin Solid Climb: Price Spikes By 21% In Surprise Burst

1 year ago

Source: Arkhia Metrics

Data sourced from Arkhia reveals that the total transactions now stand at an impressive 17.5 billion. Additionally, the network boasts an expanding user base, with 3.1 million accounts created as of press time. These milestones not only reflect the network’s growth but also highlight its potential as a significant player in the blockchain space.

(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

Featured image from The Daily Hodl

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Christian Encila
Christian Encila

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Read more

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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