Hedera Hashgraph $HBAR keeps going up

February 14, 2023 at 5:44 pm

News

$HBAR, the native crypto asset of the Hedera Hashgraph distributed ledger technology (DLT) project has posted an over 29% price surge in the past seven days following positive ecosystem news.

$HBAR price maintains its upward push

Last week, crypto.news reported that Dell Technologies, an American tech giant that manufactures, sells, and repairs computers and related products, has joined the Hedera Governing Council, the consortium of highly-reputed organizations that lead the Hedera network.

Following the positive news, the price of $HBAR has maintained its bullish momentum in the past week, making the token one of the top gainers in the last seven days.

Hedera Hashgraph $HBAR keeps going up - 1 — $HBAR Price. Source: CoinGecko.

According to data available on Coingecko, the price of $HBAR hit a high of $0.098020 on Feb. 12, with a trading volume of $273,964,244, before correcting to the $0.080 region.

However, at the time of filing this report, $HBAR is exchanging hands for $0.088, representing a 10 percent gain on the day and crypto market dominance of 0.216 percent.

With a market capitalization of $2,331,544,549, $HBAR is the world’s 30th-largest cryptocurrency. The circulating supply of HBAR currently sits at 26,051,470,158.

Despite $HBAR’s solid rally in the weekly timeframe, the asset is still down by 84.49% from its all-time high of $0.569229 in Sept. 2021, but up by 795.06% from its all-time-low of $0.00986111 in Jan. 2020.

Hedera Hashgraph ecosystem development

Hedera is an open-source public distributed ledger technology (DLT) network powered by the hashgraph consensus algorithm. Hedera supports smart contracts, tokenization, play-to-earn gaming, decentralized applications (dApps) development, and more.

On the adoption front, the Hedera project has attracted a good number of adopters over the years.

Last April, the Hedera Foundation set aside $250 million to help fund hedera-powered web3 startups building metaverse-related solutions. And in Oct. 2022, the Hedera project activated $HBAR staking, bringing more decentralization and security to the network.