Hedera is a layer one blockchain that has been experiencing some relatively strong growth as of late, with the price having appreciated by approximately 60% over the course of the last 30 days.
This has ushered in a further wave of positive sentiment for the community, who remain bullish on the value of the native asset of the Hedera blockchain, HBAR.
Hedera’s native staking product is gaining attention
One of the main things that the Hedera team is so proud to have released recently their staking platform, which has brought even more people to their project, especially in light of a lot of the concern that has arisen recently thanks to the SEC’s crackdown on centralised staking service providers – it is far cheaper to stake oneself with Hedera.
In addition to this, the blockchain boasts incredibly impressive transaction speeds, transaction costs and usage: the time to finality takes just 5.64 seconds, the average cost of a transaction is $0.001, and there have been over 48 million transactions on the network in the last 24 hours.
Hedera has cemented links with institutions
The team at Hedera have been further developing their links and partnerships with some of the leading companies in the Web3 and crypto space, and have managed to onboard a series of significant players to their “governing council”.
Partners such as Dell, Nomura and LG all signal that the future is bright for projects such as Hedera, as they are linked to organisations that have significant sway.
Can the price reach $1?
Despite the bullish momentum that the price of HBAR has experienced as of late, a $1 price prediction still seems highly unlikely in the short to medium term, since this would mean that the price would have done a more than 12x from its current position, and would be on a par with other giants such as BNB.
This doesn’t mean that it is impossible for the price of HBAR to reach a valuation of $40-50 billion, but they are currently a long way off, and it is extremely unlikely that they’ll be able to do so without far better market sentiment more generally.
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