- Hedera (HBAR) price soared about 31% in just 4 days.
- Hedera’s total value locked climbs by 7.79%.
Since the start of 2023, the Hedera (HBAR) network has taken the appropriate actions. Now, other players in the cryptocurrency space are taking notice of its distinctive Hashgraph technology. Hedera coin experienced a significant inflow, and as a result, its price jumped from a range of $0.057 to $0.075, skyrocketing by 31% in just 4 days between March 28 and April 1. Also, HBAR surged over 101% in YTD.
At the time of writing, Hedera (HBAR) traded at $0.073948. According to CoinMarketCap, the HBAR price has soared more than 6% in a day and 23% in a week. Also, Hedera’s 24-hour trading volume rose about 27% to $219 million, and it holds a market cap of $2.23 billion. On a year-to-date (YTD) basis, the token’s market cap has more than doubled, which led the altcoin to enter the top 30 cryptos by market cap.
Reasons Behind HBAR’s Price Surge
Hedera revealed that 6 billion transactions have been completed through its mainnet since its launch in a tweet on March 26. According to a press release issued by the US Department of State on March 30, Hedera was honored for its commitment to using blockchain technology to advance democratic principles.
Also on the same day, Fresh Supply Co. (FSCO), the largest Mastercard Provenance user, recently announced that it was moving from Mastercard’s private blockchain to the open Hedera network. As of March 30, HBAR’s activities on social media devoted to the cryptocurrency have multiplied price gains.
Further, the markets for futures and perpetual futures saw a rise in demand for HBAR. In the past 24 hours, the total value locked active contracts increased by 7.79% in the last 24 hours to $39.02 million, as per DeFiLlama.
