Hedera (HBAR) has recently been receiving a great deal of attention in the crypto market as the price has made a 30% increase within the last 48 hours.
This increase has pushed the token to be the 11th largest crypto based upon its current market cap and has put it ahead of other well-known cryptocurrencies like Chainlink, Stellar, and Litecoin. Experts are now predicting that it might hit $1 soon if the momentum continues.
One of the main reasons for the price surge is its new partnership with SWIFT, a global payment network that banks use for international money transfers.
SWIFT will soon start using Hedera’s blockchain for its payments across places like North America, Europe, and Asia.
This is a big deal because it means more businesses and banks might start using Hedera’s blockchain to send money. When more people and businesses use it, the demand for Hedera goes up, which could push its price even higher.
This is a huge deal for Hedera because more businesses and banks will start using the blockchain in no time. This will create more demand for the cryptocurrency, which could push it even higher
Moreover, the price has recently broken above a five-week downtrend on its daily chart. This means the bulls are now in control.
As of today, HBAR has gained 14% in value and is now trading for $0.2338. The trading volume is going great with 64% recorded to 793 million and a 14% increase in market cap to $9.79 billion
In addition, the RSI indicator line is above the 50% average and currently at 70%, which means there’s still more room for growth.
Also Read: Coinbase Files to List Solana & Hedera Futures ETF
