- The Hedera network is proud to have more than 40 decentralized applications hosted on the main network.
- HBAR is significantly strengthened with over $140 million in raised capital to support developers in its ecosystem.
Hedera Network (HBAR), a decentralized public network managed by Avery Dennison, Boeing, Deutsche Telekom, Google, IBM and LG Electronics, has been given a bullish rating by popular pseudonymous analyst Credibull Crypto -from someone: In response to a worried HBAR investor, CrediBull emphasized that now is the best time to start investing in Hedera through a dollar cost averaging strategy.
The crypto trader with over 330K Twitter followers believes that HBAR is receiving negative reviews of its token due to the ongoing bear market. Notably, the price of HBAR has fallen by approximately 93 percent since reaching the ATH of $0.569 in September 2021.
“It’s really not a problem. People just want to rationalize the declining AP, and since they can’t argue against the basics of it, “bad symbolism” is an easy alternative to blame. When we start pushing again, that argument will not hold either,” said the analyst.
The Hedera network has a market capitalization of approximately $986,027,217, with a 24-hour trading volume of approximately $16.7 million. However, some HBAR investors complain about the massive total supply of 50 billion tokens, half of which are in circulation.
Absolutely. We’re back to the beginning of the last move, where we ran 12 times after about 12 months of consolidation. If you are hot $HBAR: it’s a great time to be DCA’ing imo. https://t.co/kT4twuwDzA pic.twitter.com/KeRaULNbQU
— CrediBULL Crypto (@CredibleCrypto) January 2, 2023
A Closer Look at the Hedera Market Outlook (HBAR)
The Hedera network is proud to have more than 40 decentralized applications hosted on the main network. In addition, HBAR is significantly strengthened with over $140 million in committed capital to support developers in its ecosystem.
Launched in 2018, the Hedera brand has gained global recognition through crypto exchange listings. Notably, HBAR is listed on Crypto.com, XT.COM, Hotbit and OKX. Furthermore, the Hedera ecosystem has signed several partnerships in 2022 to ensure a bull market in the near future.
“Hedera has awarded grants to over 150 projects that are currently being built on Hedera layer 1 hashgraphs. Regardless of external conditions, businesses will continue to embrace and take advantage of these nascent technologies and industries. Hedera continues to show promise as an industry-leading hashgraph solution,” LG art Lab outstanding.
In particular, the collaboration between Hedera and LG art Lab aims to ensure that the latter facilitates the diffusion of NFTs. Hedera’s Hungry Barboons NFTs saw approximately $4.3K in trading volume in the last 24 hours.
NFT rating today.🥇🥈🥉 pic.twitter.com/3ozDSjH0H2
— Stocktwits NFTs (@StocktwitsNFTs) January 2, 2023
According to aggregate data provided by DefiLlama, the total value (TVL) of the Hedera network is approximately $24.65 million, which includes flagship projects such as SaucerSwap, HeliSwap, and Bubbleswap.
Given such statistics in a one-year bear market, analysts are optimistic that the price of HBAR will increase exponentially in the next cryptocurrency bull market. Furthermore, the Hedera network has the potential to be adopted by major cryptocurrency users around the world.
