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Information about Hedera Hashgraph (HBAR)
Hedera Hashgraph is a public network that allows individuals and businesses to create decentralized applications (DApps). Hedera Hashgraph is designed to be a fairer, more efficient system, removing some of the limitations that older blockchain-based platforms had, such as slow and unstable performance. As its name suggests, the main technology of Hedera Hashgraph is based on the Hashgraph data structure and consensus algorithm to provide a new platform for distributed consensus.
Hedera Hashgraph was ICO in August 2018. Hedera Hashgraph launched open access for the first time a year later, in September 2019.
The HBAR token is a dual-role token in the Hedera Hashgraph network. HBAR is the power source for Hedera’s smart contracts, file storage, and regular transactions. HBAR is also used to help secure the network by allowing HBAR users to stake deposits to maintain the platform’s integrity.
News
The price of Hedera has recently increased by over 21%, prompting heightened interest from investors as it retests the $0.20 mark, revealing a bullish trend.
The emergence of a Golden Cross in the EMA 50/200-day indicates a strong potential for buying, while the Relative Strength Index (RSI) supports the continuation of the upward trend.
Should HBAR exceed the $0.20 resistance level, it might reach $0.25 and target $0.30. If bearish trends materialize, it could drop toward its support level of $0.15.
The SEC has delayed its decision on several crypto ETF applications, including Grayscale’s Polkadot Trust, Bitwise’s combined Bitcoin and Ethereum ETF, and Canary’s Hedera ETF.
Paul Atkins has recently taken over as SEC Chair, prompting a thorough review of pending ETF applications. The delay aims to provide sufficient time for a comprehensive evaluation.
The crypto community expresses optimism regarding the potential approval of the ETF filings under Atkins’ leadership, especially given his pro-crypto stance.
Hedera (HBAR) has formed a death cross for the first time in 11 months, indicating a shift away from a bullish trend. The 200-day EMA has dipped below the 50-day EMA, typically signifying further price declines and a challenging market for investor confidence.
Recent data shows HBAR trading at 0.16 USD, facing resistance at 0.17 USD. Continued weak inflows reflect a lack of investor excitement, and without reclaiming key support levels, HBAR could drop to 0.15 USD, further complicating the recovery efforts.
Hedera has integrated Chainlink’s CCIP on its mainnet, allowing developers to seamlessly create decentralized applications connecting Hedera with over 46 blockchains. This move is expected to enhance user engagement and liquidity within its ecosystem.
The integration enables secure transfers of tokens, messages, and actions across chains, highlighting the potential for growth in decentralized finance (DeFi) and tokenization of real-world assets. CCIP has powered over $75 billion in DeFi activity.
The HBAR Foundation’s collaboration with Chainlink through the SCALE program enhances developer access to essential tools. With the launch of CCIP, developers have more opportunities to innovate and expand the Hedera network.
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