Hedera Price Breakout from Key Resistance Sets a 26% Rally

In recent months, Hedera Coin (HBAR) has captured the attention of crypto enthusiasts embarking on a remarkable upward trajectory amid growing uncertainty in the market. This captivating rally has been supported by a robust rising wedge pattern that has a strict influence on market participants.

Timeline of Hedera

The US Federal Reserve (Fed) has integrated Dropp into FedNow payment rails to enable faster micropayments and non-fungible token (NFT) trades. Built on Hedera Hashgraph, Dropp supports USD, USDC, and HBAR transfers.

The Federal Reserve FedNow payment system has enabled support for Dropp, a micropayment platform based on Hedera (HBAR) Network, according to available information on its website. What is Dropp?

The US Federal Reserve's instant payments system FedNow has added Dropp micropayments platform, build on Hedera Hashgraph, to the list of service providers. Hedera (HBAR) price skyrockets 15% within hours as a result of FedNow now supporting Dropp, which enables micropayments in HBAR, USD, and USDC.

Hedera popularly known as HBAR, has lately been drawing attention in the world of cryptocurrencies. An influencer from the crypto-sphere recently asserted that this digital currency is poised to cement its position among the top 10 in the industry.

Hedera (HBAR), currently ranked as the 31st cryptocurrency asset in terms of market capitalization, has recently witnessed a remarkable surge in its price, captivating the attention of investors and enthusiasts alike. A surge in an asset's social engagement often serves as a precursor to a rally in its price.

Hedera Hashgraph's native cryptocurrency, HBAR, is shining following the slight boost in the crypto market today, August 8. Hedera briefly broke through the one-month-long $0.5 resistance, climbing above $0.6, while top coins like Bitcoin bleed with losses.

In a groundbreaking move that promises to reshape the landscape of digital finance, Hedera (HBAR) has announced a strategic partnership with FreshSupplyCoAu to integrate with the Continuity API. This integration will enable seamless connections to banks and the Mastercard Network, bridging the gap between decentralized blockchain technology and conventional financial infrastructure.

Shinhan Bank, SCB TechX, and Taiwan's largest financial institution have successfully completed a stablecoin remittance proof-of-concept (PoC) pilot on the Hedera network, as announced on July 18th, 2023.

A significant milestone connecting blockchain technology and Artificial Intelligence (AI) had the Hedera network integrating the ChatGPT plugin. The AI launch on the cryptocurrency project will allow users to manage their accounts seamlessly.

Hedera (HBAR) has joined the altcoin uptrend for today as the broader digital currency ecosystem pushed for a sustained price recovery. The HBAR token is trading at a spot price of $0.04653, up by 5.20% over the past 24 hours in a frantic effort to pare off the losses it has accrued in the trailing seven-day period.