- Hedera’s adoption milestone strengthened social sentiment amongst traders.
- HBAR bounced again strongly, demonstrating elevated investor curiosity.
Blockchain expertise adoption and development remains to be ongoing, regardless of the latest flip of occasions available in the market. The Hedera [HBAR] blockchain is an ideal instance of the identical, contemplating its newest developments.
Is your portfolio inexperienced? Take a look at the Hedera Revenue Calculator
Hedera managed to safe the highest spot on LunarCrush’s Altrank. This was a big win for HBAR as a result of it managed to outperform 4,479 cash available in the market.
This achievement is very noteworthy as a result of Hedera managed to safe the favorable score throughout the identical week that the market crashed. In different phrases, this achievement underscores Hedera’s resilience.
For the second time in a row this week, Hedera Hashgraph has hit AltRank™ 1 out of the highest 4,480 cash throughout the market.
AltRank™ is predicated on relative mixed social + market exercise. Value is up +14.751% with 9,947,371 social engagements over the previous 24hrs.… pic.twitter.com/HB1gUUe6Mg
— LunarCrush (@LunarCrush) August 19, 2023
So far as social metrics are involved, a lot of the market noticed a surge in social dominance and social quantity because the market crashed. This implies the robust social metrics should not simply restricted to Hedera. However, the social dominance and social quantity did peak throughout mid-month.
Supply: Santiment
So, what’s the driving pressure behind this favorable rating? Properly, it might have one thing to do with the community’s continued adoption price. Current studies revealed that Hyundai and Kia, two South Korean automotive producers, will deploy their CO2 monitoring system on the Hedera community. This will have sustained constructive social metrics versus most of its rivals.
Hedera Community Embraced by Hyundai and Kia for Innovation
Hyundai and Kia, two main automakers, have embraced the Hedera community, indicating a rise in blockchain adoption. Based on an thrilling announcement, Hyundai Motor Firm and Kia Company have launched a… pic.twitter.com/eDIOR07R1u
— LG Artwork Lab (@LGArtLab) August 18, 2023
Whereas these developments have allowed Hedera to safe the highlight, additionally they underscored the community’s development trajectory. The community maintained wholesome growth exercise over the last 4 weeks. This was significantly the case within the first two weeks of August, throughout which growth exercise peaked.
Supply: Santiment
HBAR bulls exhibit resilience regardless of latest promote stress
The mid-week market crash shaved off a considerable quantity of worth from most crypto tasks. This contains HBAR, which tanked by as a lot as 32% from its $0.077 mid-week peak. However extra notably, the worth had beforehand maintained an general bullish trajectory previous to the latest crash.
That is across the identical time that almost all different high cryptocurrencies moved sideways on account of uncertainty-induced low volatility.
What number of are 1,10,100 HBARs value at the moment?
HBAR remains to be receiving a variety of social consideration from traders, maybe on account of pleasure from the latest growth involving the 2 South Korean automotive producers. It traded at $0.064 at press time after a 23% bounce again from the weekly lows.
Supply: TradingView
The robust bounce again at press time confirmed that Hedera’s growth was nonetheless attracting investor curiosity. Consequently, HBAR’s worth motion was having fun with the advantages.
