• Hedera [HBAR] saw a 100% increase in volume and its market capitalization increased by more than threefold in the last day.
• The Hedera network has been seeing an impressive rise in transactions per second, total value and volume, as well as a rise in the number of smart contracts deployed.
• DefiLlama statistics show that Hedera has a Total Valued Locked (TVL) of $39.39.
The cryptocurrency Hedera [HBAR] has recently seen its highest price movement in four months, with its volume increasing by 100% and its market capitalization rising by more than threefold over the past day. The Hedera network has been seeing a robust rise in transactions per second (TPS), total value and volume, in addition to a steady increase in the number of smart contracts deployed.
The DefiLlama statistics show that Hedera has a Total Valued Locked (TVL) of $39.39. This growth can be attributed to the platform’s ability to process over 40 million transactions to date, with a current average of 469.7 transactions per second (TPS) and a maximum of 6,856 TPS. This impressive performance has been recognized by the cryptocurrency community, with users praising the network’s scalability and security.
Further contributing to the growth of the platform is the increasing interest in the Hedera Hashgraph. It is a distributed ledger technology designed to provide better scalability, security, and decentralization than existing blockchain technologies. Hashgraph also seeks to provide a low-cost, low-latency platform that can support a wide range of applications. For example, Hedera enables developers to build decentralized applications (DApps) that can be used for a variety of purposes, from gaming to finance.
The growing demand for the Hedera Hashgraph is expected to continue, and this has led to analyst predictions of a further rise in the price of HBAR in 2023-24. As the platform continues to grow, it will become increasingly attractive to both investors and developers, leading to further use cases. This is likely to further boost the value of HBAR, as well as its associated benefits.
Overall, the recent surge in the price of HBAR is a sign of the growing popularity of the Hedera Hashgraph. With its impressive scalability, security, and decentralization, the platform is becoming increasingly attractive for a wide range of applications. As the network continues to improve and gain further traction, it is likely that the price of HBAR will continue to climb in the next few years.