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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
Hedera (HBAR) witnesses a surge in long trading positions, resulting in a bullish sentiment among traders. The long/short ratio has peaked at 1.08, indicating a strong demand for long bets, suggesting optimism about upcoming price movements.
Investor interest is supported by Hedera Foundation’s collaboration with Zoopto for a potential TikTok acquisition. Following a temporary drop to 0.153 USD, HBAR shows recovery potential, driven by robust buyer support.
The recent partnership opportunity with TikTok could ignite a price rally for HBAR. Positive investor sentiment is hinted at by the Chaikin Money Flow indicator. Additionally, HBAR’s current price resistance stands at 0.165 USD, requiring a 22% increase to break through to 0.200 USD, making diligent monitoring necessary.
The HBAR Foundation along with Zoop has officially filed a bid to purchase TikTok, responding to a U.S. Law mandating ByteDance’s divestiture. This move is part of a wider effort by multiple large tech firms to ensure TikTok remains operational in the United States.
RJ Phillips, co-founder of Zoop, highlighted that the acquisition’s main goal is to redefine benefits for creators and their communities. The deadline for TikTok’s sale has been extended to April 5, 2025, reshaping the landscape for stakeholders.
Hedera (HBAR) has seen a notable decline, currently positioned close to critical support levels. With bearish signals evident, if the price doesn’t bounce back, a breach below $0.15 could occur, marking a concerning trend for investors.
The BBTrend has seen a drastic shift to -10.1, indicating strong selling pressure. The Ichimoku Cloud analysis supports a bearish outlook, as HBAR remains below resistance levels, thereby necessitating significant upward movement for any reversal.
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