Hedera (HBAR) is advancing with considerable gains despite an overall market fall for the bulk of cryptocurrencies. Its success separates it from the rest of the market and has investors focused on whether or not it can sustain its gains.
At the time of publication, HBAR, a scalable smart contract asset, was trading at $0.09 with daily gains of over 4%. The coin also leads the market in weekly increases, with an average of almost 25%.
The increase has been fueled by persistent capital inflow, with the market capitalization of tokens reaching $2.25 billion on February 14. In the last week, around $460 million had been added to the asset’s market capitalisation.
The Hedera Hashgraph token’s price rise has made it an outperformer on the cryptocurrency market, while Bitcoin (BTC) continues to show losses. HBAR’s successes are the result of network expansion and strategic alliances.
For example, the asset’s value has increased with the news that Dell Technologies would join the Hedera Governing Council. Dell will run its node, build bespoke apps, and assist in the automation of distributed ledger technology as part of the agreement.
Elsewhere, Ashfall NFT, a new non-fungible token (NFT) series, was just introduced, enhancing the platform’s functionality.
Overall, Hedera Hashgraph is widely used across several sectors for the development of different applications. Utilizing the platform, companies like Acme Labs have created a decentralized marketplace for NFTs, while Leemonswap has constructed a decentralized exchange centred on food.
In addition, a new metaverse fund with a value of $1 million has been launched on Hedera Hashgraph, targeting Africa’s creative economy. These results indicate that Hedera Hashgraph continues to evolve and expand, establishing itself as a major participant in the rapidly developing cryptocurrency sector.
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