What’s Making Hedera (HBAR) Price Pump Over 15%, More Good News For Investors?

HBAR Crypto News: Hedera (HBAR) has become one of the top cryptocurrencies this week to witness a significant price increase while avoiding the crypto market’s gloomy downturn. Analysts predict if the current market conditions hold, the HBAR price may continue its upward trajectory towards more desirable levels of liquidity.

Hedera’s Growing Ecosystem

Hedera, which is powered by its own proprietary Hashgraph technology, continues to gain the interest of investors as the smart contract platform sees a growing number of projects building on top of the network. This development has also led to an increase in its overall TVL, which currently boasts around $137 million, according to DefiLlama.

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Hedera’s multiple announcements this week, has been received with favorable response from the token’s recent price action. Notable events include the launch of a new metaverse fund worth $1 million through the AfroFuture DAO and the release of a new NFT campaign called “Ashfall.”

The metaverse fund’s primary objective is to target the African market, thus bolstering the development of projects that would be later added to the Hedera network. At the time of writing, it has already launched its first initiative, which according to reports, would make it possible for high-profile musicians to benefit from HBAR NFTs. Additionally, the new Ashfall NFT–developed by critically acclaimed “Days Gone” director John Garvin–has met with much appreciation from the Hedera community.

Hedera (HBAR) Price Action

It should also be mentioned that on February 7, the DAG-based platform’s governing council welcomed technology giant Dell as its 28th new member. The governing board is already represented by a variety of illustrious corporations, such as Boeing, IBM, Google, LG, Ubisoft, and others. Within just two hours of the press release on this piece of HBAR crypto news, the value of the altcoin increased by approximately 14%. Over the course of the last thirty days, the leading cryptocurrency has experienced a meteoric increase of over 85%.

Additionally, it should be noted that HBAR’s technical analysis (TA) indicators at CoinGape’s crypto market tracker recommend a strong buying opportunity as summarised by the moving averages; suggesting a “buy” at 15 and “neutral” at a level 9. Reacting to the recent HBAR crypto news, the price of Hedera is currently trading at $0.087 which represents an increase of  15% over the past 24 hours, in contrast to a jump of 17% over the last seven days.

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Pratik has been a crypto evangelist since 2016 & been through almost all that crypto has to offer. Be it the ICO boom, bear markets of 2018, Bitcoin halving to till now – he has seen it all.