Hedera (HBAR) Shines: Record-Breaking 164 Million Daily Transactions, Market Cap Reaches $2.9 Billion

Hedera (HBAR), the open-source Proof-of-Stake (PoS) blockchain network, has made significant strides in the fourth quarter (Q4) of 2023, according to a recent report by Messari. The network's performance showcased notable growth in key metrics, outpacing the crypto market.

Timeline of Hedera

In a move that promises to reshape the landscape of distributed ledger technology (DLT) applications in the industrial sector, the Hedera Council has announced Hitachi America, Ltd. (Hitachi) as its newest member.

This strategic move positions Hedera at the forefront of advancements that prioritize seamless connectivity and accessibility for users in the evolving blockchain landscape. Big News for Hedera: WalletConnect Integration!

The HBAR Foundation and Archax have shared plans to enhance their partnership by expanding support for HBAR staking, the native cryptocurrency of the Hedera network, as well as the pursuit of further tokenisation projects.

Cryptocurrencies were mixed on Wednesday as traders waited for the upcoming FOMC, ECB, BoE, and Swiss National Bank (SNB) decisions. Bitcoin stalled at $41,000 while the total market cap of all cryptocurrencies held steady at $1.64 trillion. There were some bright spots though.

At the 2023 UN Climate Change Conference (COP28), Envision Blockchain showcased new emissions tracking and carbon credit platforms utilizing blockchain and artificial intelligence technology.

Hedera Hashgraph (HBAR) has unveiled a new product aimed at financial services companies. In a statement, the developers launched Stablecoin Studio, a suit of products that will help these firms launch and scale their stablecoins. Stablecoin Studio has all the features that financial firms and other enterprise customers need to build these coins.

Hedera (HBAR) recently encountered a significant hurdle as it faced price rejection at a crucial weekly bearish order block. Currently hovering at the $0.0500 level, this juncture has emerged as a formidable obstacle for sellers looking to capitalize on the prevailing bearish sentiment.

Hedera (HBAR), despite the very unpredictable cryptocurrency market, has demonstrated its ability to defy trends by recording more than 14% increase on its price chart, Sunday. Hedera has not only held its place despite the volatile circumstances that frequently affect other digital assets, but has also shown steady resilience.

Hedera Price Analysis: A bullish reversal from the support trendline hints HBAR price to prolong the recovery trendDefying the broader market bearishness, the Hedera coin shows a strong rebound from the ascending support trendline and maintaining its overall bullish outlook. Over the past two months, the crypto buyers have obtained dynamic support from this trendline

U.S. Federal Reserve Embraces Micropayments Innovation with Dropp on Hedera Hashgraph The U.S. Federal Reserve has taken a forward leap in payment technology by incorporating the micropayments platform Dropp onto the Hedera Hashgraph network. This integration has been seamlessly integrated into the FedNow instant payments platform and has significantly propelled the value of the HBAR token, recording a remarkable surge of over 15%.