Hedera Breakthrough Moment: HBAR Rockets Over 800%
Hedera Hashgraph’s native token HBAR has become a hot topic in the cryptocurrency market after a significant price increase. In about four weeks, the coin reversed a bearish trend that had lasted for over 1,000 days. As investor interest grows, experts are increasingly predicting higher prices, signaling increased confidence in this enterprise-grade public ledger.
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As of the time of writing, HBAR’s price is $0.3173. Although the coin is down 10% in the past 24 hours, it has performed very well over the course of the week and month. Notably, HBAR maintains a huge Up 801% in the past 30 dayswhich makes buyers very happy.
What’s driving this momentum? A combination of innovative upgrades, partnerships and market optimism. HBAR’s rebound is not just a price increase, but also a shift in the project’s positioning in the blockchain space.
Aggressive Targets in a Bull Market
As the cryptocurrency bull run continues, experts expect HBAR to reach $5. If the market tops in April 2025, the more conservative $2.50 shows significant growth potential. This positivity is not just speculation. Hedera is gearing up for big announcements, including a new privacy layer that will allow consumers to build private network instances while still being linked to the public ledger.
Hedera co-founder Dr. Leemon Baird believes this privacy layer has the potential to transform fields such as finance, healthcare and supply chain management. Hedera addresses a significant gap in blockchain technology by providing organizations with secure and interoperable solutions.
Ripple partners to promote HBAR adoption
Hedera’s growing integration with blockchain-based payment systems is another driver. The technology plays an important role in the Federal Reserve’s FedNow system through Dropp, enabling fast and secure transactions.
Furthermore, its interaction with Ripple (XRP) proves that it is a strong competitor in USD transaction processing. Ripple’s possible certification of the RLUSD stablecoin in December could help strengthen HBAR’s position in the payments ecosystem, boosting acceptance in many areas.
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Performance upgrades set new benchmarks
Hedera doesn’t stop protecting privacy. A major upgrade is underway that may increase transaction throughput to 500,000 transactions per second (TPS). This advancement will make Hedera the fastest blockchain network in the world, a status that could significantly change market dynamics.
$HBAR (Hedera) continues to show great strength here and can still target ≈$0.504!
With this target, we can see that we are 3 times closer to where we are now, with an additional +192% climb to get there… https://t.co/J1gtwa1Xgl pic.twitter.com/26wq1Tp9ga
— JAVON⚡️MARKS (@JavonTM1) November 29, 2024
While the relative strength index (RSI) points to increasing buying activity, approaching overbought levels could indicate profit-taking. Still, experts like Javon Marks are holding out hope, predicting the price will rise to $0.504, almost three times its current value.
Open interest in HBAR trading rose 28% to $187 million. Capital inflows point to increased confidence, suggesting that HBAR gains are likely to continue. Hedera’s progress should be watched by investors and enthusiasts alike.
Featured images from Pexels, charts from TradingView
