Hashgraph technology has achieved a major milestone, surpassing nine billion transactions on its network. This achievement makes it one of the most preferred platforms in the web3 space, especially in the case of scalability. Hedera twitted:
#Hedera: 9 BILLION transactions!
— Hedera (@hedera) May 15, 2023
Indeed, they dedicated the success to the “incredible community,” which continues to drive real-world applications of its technology. The platform’s unique consensus mechanism and fast processing speeds have made it an attractive option for developers looking to build decentralized applications.
Hedera Boasts $65M in TVL from 20K+ Active Smart Contracts
Moreover, Hedera Hashgraph’s network is experiencing a surge in usage, with a rapid increase in transactions and new account creations. As a result, the platform’s DeFi use cases are also on the rise.
According to Hedera, the platform currently boasts $65 million in Total Value Locked (TVL) from over 20,000 active smart contracts. These impressive metrics point to a clear increase in network adoption as developers and users alike turn to Hedera for its fast transaction speeds, secure consensus mechanism, and low fees. As the platform continues to grow, it represents all the signs of becoming a major player in the DeFi space.
Do These Metrics Impact the Price of Hedera (HBAR)?
Experts and crypto enthusiasts believe these matrices could lead to a price increase in the coming months. Firstly, the surge in transactions and new account creations suggests that there is growing demand for Hedera’s technology, particularly in the DeFi space. As more developers and users flock to the platform, it increases demand for the native token, $HBAR.
Secondly, if Hedera can handle such a large volume of transactions without compromising on speed or security, it is a major selling point for the platform! It could make it an attractive option for large enterprises and institutions looking to integrate blockchain technology into their operations.
Moreover, Hedera makes partnerships to expand its real-world use cases, which suggests that the platform has a solid long-term strategy. Moreover, the wider cryptocurrency market is experiencing rapid growth and adoption. Many new investors and institutions pour money into the space; the overall market capitalization will likely continue to increase, which could increase the price of $HBAR.
All of these factors suggest that there is a strong possibility that the price of $HBAR will increase in the next two years. Of course, as with any investment, there are risks to consider, but if you are looking to invest in the blockchain space, Hedera Hashgraph’s growing usage and solid partnerships make it a compelling option to consider.
Will Hedera Hashgraph Reach $1?
Based on our algorithmic HBAR price prediction, it is expected to see a gradual increase over the next few years. In 2023, the projected price range for $HBAR is between $0.055 and $0.28. By 2030, the projected price range for $HBAR is between $1.19 and $1.41, with an average price of approximately $1.30.
Please remember that the price prediction of Hedera is based on various assumptions, excluding the factors such as govt regulation, market sentiment, and global issues in the future. Moreover, several factors, including market volatility, regulatory changes, and competition from other blockchain platforms, could impact the actual price of $HBAR over the coming years.
Should You Consider $HBAR for Buying?
However, we assume that the current trends of increasing adoption and partnerships continue for Hedera Hashgraph. In that case, there is reason to believe that the projected price increases for $HBAR are possible. As more developers and users turn to the platform, demand for $HBAR will likely increase, potentially leading to higher prices. If you are interested, please do your independent fundamental & technical research before investing in $HBAR.