Hedera Hashgraph Price Up 15.4% – Time to Buy HBAR Coin?

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If you’re looking for gains in the crypto market, you’ve probably heard that you can buy HBAR. In truth, the coin has been turning heads – part of the blockchain wave that appears to be capturing the market.

But should you buy HBAR right now? What are the factors that led to the recent price push? We’ll break all of this down below to help you come to an informed decision.

Hedera Hashgraph: The ‘Blockchain Killer’

Hedera Hashgraph is an interesting cryptocurrency platform that bills itself as an alternative to blockchain. The platform allows developers to build and deploy decentralized applications (dApps), although a group of companies will be available to oversee the entire software’s use and performance.

The Hedera Hashgraph network employs Directed Acyclic Graph (DAG) – a system where transaction verification speed increases as more transactions are added to the network. The technology has helped the network process over 100,000 transactions a second – comparable to several mass-market systems out there.

Hedera Hashgraph differentiates itself from traditional blockchains in some remarkable ways. One is the fact that the network offers high-speed HBAR transactions, although only approved nods can determine transaction histories. By restricting the number of nodes involved in important functions, Hedera Hashgraph can achieve quick finality and reduce the possibility of changes being made to transactions.

HBAR is the native token for the Hedera Hashgraph ecosystem. The native coin enables low-fee, highly customizable transactions on the network. But, you can also buy HBAR on different cryptocurrency exchanges for trading and money transfers.

HBAR: Price Movements in 2021

Like many not-to-popular coins, HBAR has had a rollercoaster journey in 2021. The coin’s price is trending up, but it wasn’t always so.

HBAR started 2021 trading at $0.03. Investors rushed to buy HBAR as the market rally went into full force, and the coin’s price soon leaped. The first high for HBAR came on March 15 when the coin’s price hit $0.45. The asset’s price dropped from that peak, but it still stayed healthily close.

When the downturn eventually hit, HBAR was trading at $0.411. The big drop came on May 10, seeing HBAR drop from that price to $0.16 on May 19. That marked a 60.9 percent drop in less than two weeks.

But, the drop didn’t stop there. Investors had no reason to buy HBAR as the market floundered, and the coin soon dropped to $0.13 on June 22. That would mark HBAR’s bottom, although the coin wasn’t necessarily performing well. For the next month, HBAR only crossed the $0.2 mark once.

At its bottom, HBAR had lost 68.2 percent of its peak. But, the market rally that came in August would prove to be its redemption. After many rushed to buy HBAR at its dip, the coin rallied massively in August.

For that month alone, HBAR’s price jumped by a healthy 30 percent. In September, however, the big jump started coming. HBAR has already doubled its price this month, moving from $0.26 to a current price of $0.52.

HBAR has also eclipsed its former high, doing so on September 14. Its new all-time high is $0.57 – a price that it set earlier today. HBAR now trades at $0.52 – up 15.4 percent in the past day and 91.2 percent in the past week.

HBAR: Technical and Fundamental Analysis

HBAR is doing quite well technically. The coin is trading well above its 20-day and 200-day moving averages (MAs) of $0.32 and $0.25. HBAAR has continued to outperform expectations over the past week, and the coin is now looking ready to make much bigger moves.

HBAR’s relative strength index (RSI) stands at 83.45. The metric has been rising steadily for the past week, showing a greater desire from investors to buy the coin.

Current gains can be traced to developments in the Hedera ecosystem. Over the past month, two universities have joined the Hedera Governing Council – the Indian Institute of Technology Madras and the prestigious London School of Economics and Political Science (LSE).

They will join existing members such as IBM, Boeing, and Google to support Hedera’s ambitions as it looks to grow its decentralized network.

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About Jimmy Aki PRO INVESTOR

Based in the UK, Jimmy is an economic researcher with outstanding hands-on and heads-on experience in Macroeconomic finance analysis, forecasting and planning. He has honed his skills having worked cross-continental as a finance analyst, which gives him inter-cultural experience. He currently has a strong passion for regulation and macroeconomic trends as it allows him peek under the global bonnet to see how the world works.