When is the right time to buy and hold Hedera Hashgraph (HBAR)?
Early Thursday, Hedera Hashgraph (HBAR) is showing signs of choppy trading below the key $ 0.40 level, after experiencing weakness in several sessions after touching a new ATH in late September. At the time of this writing, the HBAR / USD is trading at around $ 0.38.
The large-scale project touts very different technology than other major players in the crypto and blockchain industry, but supports the creation of dApps with blazingly fast transaction processing capabilities and transaction fees. weak. Leveraging Hashgraph technology, its network can process over 10,000 TPS compared to major PoW blockchains which offer speeds of around 5-20 TPS. It rose to fame because its board of directors includes some of the world’s largest tech organizations. In recent weeks, the adoption of its ecosystem among projects has been steadily increasing and it should establish itself in the DeFi and NFT sectors in the coming months.
Latest fundamental developments in Hedera Hashgraph
One of the most important fundamental developments that may support the value of the HBAR token in the near future is its board’s decision to set aside nearly $ 4 billion in funds to drive the growth of its ecosystem. The amount comes from 20% of the total token supply – HBAR 10.7 billion, allocated to finance growth by providing grants to developers and projects in the DeFi, NFT and GameFi sectors.
In matters of adoption, SKUx fintech company recently announced a partnership with Hedera Hashgraph to leverage their network to deliver payment-based offerings to the ever-growing ecosystem of retailers, brands and marketing services companies in a secure and efficient manner. Its SKUPay ™ solution will be powered by the blockchain network, offering serialized, traceable and redeemable coupons with almost instant digital payments.
Another promising development is the AI-powered real-time data analytics company Fobi integrating its Wallet pass solution into the Hedera Consensus service. Using the Hedera Hashgraph network, Fobi will be able to provide its users with a fully secure mobile wallet as well as digital proof of vaccination credentials.
Key levels to watch
On the HBAR / USD H4 price chart, most of the moving averages show a bullish bias. However, other MACD leading technical indicators and momentum also indicate some interest among sellers.
The price of Hedera Hashgraph is holding above the pivot point at $ 0.37 and it looks like buyers may try to break through the $ 0.40 mark soon due to positive sentiment in the crypto market. In this case, keep an eye out for immediate resistance at $ 0.44 as this could prove to be a challenge for HBAR investors in the short term.