Hedera (HBAR) crypto: How soon can it come out of its bearish phase?

Highlights

• Hedera (HBAR) is perhaps one of the most used and sustainable public networks, allowing users to create unique decentralised applications (DApps).
• As a unique protocol, it is expected to be faster and more secure than traditional blockchain technologies.
• The 34th ranked HBAR token on Monday was trading at US$0.179702 with a volume of US$43,024,271 over a day, according to CoinMarketCap.

Hedera (HBAR) is perhaps one of the most used and sustainable public networks, allowing users to create unique decentralised applications (DApps). As a unique protocol, it is expected to be faster and more secure than traditional blockchain technologies.

With its dependence on proof-of-stake consensus, it offers energy-efficient solutions and follows the Gossip protocol, wherein each node communicates with every other node to authenticate the transactions. Due to this, all the transaction data creates a Directed Acyclic Graph (DAG), which is critical to the Hashgraph Consensus Mechanism.

Also read: MOVD, UEC, IDS, ADOGE, KST: Top 5 crypto gainers of the week

On 25 April, the HBRAR crypto wasn’t witnessing a good run on the market as it was down by 4%. This marks a continuation of the trend for HBAR, which has been on the downward slide over the past 30 days witnessing losses of over 19%.  

Why is the HBAR trailing?  

The exact reason for HBAR’s downward slide is unknown, but the project has seen significant developments of late. On 22 April, it got integrated with DappRadar, wherein the projects built on Hedera will be listed on the analytics firm.

Earlier in April, HBAR Foundation committed US$250 million to integrate the metaverse apps to HBAR. The metaverse fund was aimed to target various B2C and B2B projects, which Hedera believes will expand its horizon to Web 3.0.

What makes Hedera unique is that it has its own DLT service called the Hashgraph. The Hashgraph has a more incredible TPS speed and can handle up to 10,000 transactions per second.

Also read: How long can the Exeedme (XED) rally sustain? 

Token’s price

On Monday, the 34th ranked HBAR token was trading at US$0.179702 with a volume of US$43,024,271 over a day, according to CoinMarketCap. The HBAR crypto was down by 4.84% in the last 24 hours, with a live market cap of US$3,634,833,884 and 20,227,064,411 HBAR coins in circulation.

With the token witnessing a bearish trend for a while now, the market participants would be hoping that it will have a bull run soon. But how soon it can see that phase remains to be seen. Investors, on the other hand, should remember that the crypto market is very volatile, and its prices can change at any time. Therefore, one must tread carefully on the path and do proper research before taking any investment decisions.  

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