Many altcoins registered a very bullish trend at the beginning of 2021, although the crypto market prices have retraced significantly from April. However, the current bearish trend cannot be attributed to the altcoins alone since Bitcoin (BTC), the largest cryptocurrency by market capitalization and the most valued digital coin, has also taken a bit of the downfall seems not to spare any cryptocurrency.
HBAR cryptocurrency is one of the altcoins that enjoyed the bullish trend from the beginning of 2021 to the end of March. As a result, many crypto traders have taken an interest in the digital coin since its blockchain technology shows many prospects of becoming a force to reckon with within the blockchain industry.
The live Hedera price today is $0.206327 USD with a 24-hour trading volume of $62,826,202 USD. Hedera is down 2.76% in the last 24 hours. The current CoinMarketCap ranking is #33, with a live market cap of $4,036,865,424 USD. It has a circulating supply of 19,565,356,901 HBAR coins and a max. supply of 50,000,000,000 HBAR coins.
We shall look at what HBAR token is, how the blockchain operates functions, its price action, and its price prediction for the remaining part of 2021 and 2022 to help traders evaluate whether the cryptocurrency project is a profitable investment or not.
What is HBAR token?
The Hedera Hashgraph token, commonly denoted as HBAR, is the native cryptocurrency of the Hedera Hashgraph blockchain network. Its current price is $0.1696.
The Hedera Hashgraph cryptocurrency has two roles in the Hedera Hashgraph blockchain. The first role is fueling services like transactions, file storage, and execution of smart contracts, and the second is securing the blockchain network through staking. HBAR holders stake their HBR tokens to help maintain the integrity of the blockchain platform.
There is a maximum total supply of 50 billion HBAR tokens, and out of these, only 18% (8.95 billion HBARS) are currently in circulation supply, which represent an increase of about 28% since the start of 2021 when the coins in circulation supply were about 14% of the total coin supply.
The Hedera Hashgraph network releases the HBAR tokens in cycles, ensuring that the total coins in supply during the first few years of the blockchain remain below the two-thirds required to hold consensus. Every month, Hedera releases a month detailing how it shall distribute the next wave of HBAR tokens through public reports published on its official website in the HBAR Economics sections (under the HBAR tab) in the ‘What is Hedera’s circulating supply of HBAR?‘ question.
According to Hedera’s whitepaper, about 17.03 billion HBAR tokens, about 34% of the total maximum coin supply, will be in the circulation supply by 2025.
What is the Hedera Hashgraph blockchain?
Hedera Hashgraph blockchain is a distributed ledger technology that provides individuals and businesses with a platform to create decentralized applications (DApps). It is portrayed as the ‘trust layer of the internet.
Hedera’s founders and the rest of the development team designed it to offer solutions to some of the challenges (e.g., instability and slow performance) of most older blockchains like Blockchain and Ethereum.
The blockchain started through an ICO in 2018 and introduced its mainnet a year later in 2019.
HBAR uses a consensus mechanism known as Hashgraph consensus. It involves a rotating governing council of 39 diversified organizations from different industries. This council is the one that is involved with managing and updating Hedera Hashgraph codebase, voting on decisions about the platform, and operating the blockchain’s initial nodes.
Besides the consensus mechanism, the blockchain also uses a proof-of-stake (PoS) consensus mechanism in ensuring that the integrity of the network is maintained and thus ensuring that it is secure. The PoS allows HBAR holders to stake their tokens for this purpose.
The overall security setup of Hedera Hashgraph enables it to achieve an asynchronous Byzantine fault tolerance (ABFT) that guarantees transactions are completed within the stipulated time regardless of whether some data is available or not.
Byzantine fault tolerance (ABFT)
The overall security setup of Hedera Hashgraph enables it to achieve an asynchronous Byzantine fault tolerance (ABFT) that guarantees transactions are completed within the stipulated time regardless of whether some data is available or not. Hedera is the first and only public DLT to use this consensus algorithm, which we believe will be both faster and more secure than other existing public networks.
In a distributed system such as cryptographic ledgers, Byzantine Fault Tolerance (BFT) is a plan’s ability to tolerate that an arbitrary number of faulty components fail, inducing the distributed system to commit abnormal behaviors. The Byzantine failure model is a stringent assumption where any false or malicious part can decide or perform any operation, including halting execution, controlling other users’ access to shared resources, delaying messages, replaying old messages, dropping data packets.
What makes Hedera Hashgraph blockchain unique?
The hashgraph consensus mechanism used by Hedera Hashgraph is entirely different from the consensus mechanisms used by most blockchains, and it enables Hedera Hashgraph to offer better services in terms of scalability, speed, and cost of transactions.
Hedera Hashgraph can handle over 10,000 transactions per second, which is way far more than what the likes of Bitcoin and Ethereum blockchains can process per second. And while it takes between 10 to 60 minutes for transactions to be confirmed in blockchains like Bitcoin and Ethereum, it only takes 3-5 seconds for a transaction to be established in Hedera Hashgraph.
Regarding the cost of transactions, Hedera Hashgraph is way cheaper than most blockchain networks. Its average transaction fee is $0.0001 per transaction in Hedera Hashgraph, while it costs $22.57 per transaction in the Bitcoin blockchain.
Figure 1. Comparing HBAR blockchain to Bitcoin and Ethereum (Source)
Hedera Hashgraph also has several features that make it an excellent blockchain for its users, and these include:
- Smart contract functionality that allows DApps developers to develop powerful DApps.
- Enabling users to mint both fungible and non-fungible tokens (NFTs) for the DApps that they develop on Hedera Hashgraph.
- An additional PoS consensus algorithm ensures that the network is secure while offering HBAR users a means of earning a passive income by staking the tokens.
- A decentralized file storage system that includes features like controlled mutability, time-based file expiry, and proof-of-deletion.
Hedera Hashgraph price history
When the HBAR coin was first sold to the public through an ICO, the coin price was $0.12 and although the token has gone through had its ups and downs in the market, it still has a positive ROI, which currently stands at 40.2% against the US dollar.
HBAR crypto started trading in September 2019, a year after its ICO was conducted, and it started trading a price that was about half of what it was sold for during the ICO. And as if things were not bad yet, the digital coin value dropped further to trade below $0.03 until the start of 2020, when it made a slight bullish attempt that saw it go above $0.06 though it didn’t hit $0.07.
HBAR maintained a price above $0.03 for the whole of 2020. Then, at the beginning of 2021, the cryptocurrency price started skyrocketing, and the bullish trend continued until mid-March when it hit its all-time high of $0.4495. The coin tried to get past the all-time high price in April to no avail before taking on a bearish trend that has continued till today, as seen in the HBAR chart below.
Figure 2. Hedera Hashgraph price history chart (source)
Although the HBAR price is currently bearish, the digital asset value is still well above the price sold during its ICO. Experts believe that the coin will turntables (as we shall see in the price analysis section and Hedera Hashgraph price prediction sections below) since the current bearish trend is being witnessed across all cryptocurrencies prices popular coins like Ethereum price, Ripple price, and Bitcoin price.
HBAR price analysis
Both short and long-term technical indicators suggest bullishness for the HBAR coin. Check the following data by Tradingview captured in September of 2021.
Also, according to Investing.com, most technical indicators indicate a potential bullish trend in the long term.
Figure 5. HBAR price technical analysis using technical indicators (source)
Figure 6. HBAR price resistance and support levels to watch (source)
The support and resistance level helps to show the expected minimum price and the maximum price that a trader should watch in their Hedera Hashgraph forecast.
Hedera Hashgraph price history
When the HBAR coin was first sold to the public through an ICO, the coin price was $0.12 and although the token has gone through had its ups and downs in the market, it still has a positive ROI, which currently stands at 40.2% against the US dollar.
HBAR crypto started trading in September 2019, a year after its ICO was conducted, and it started trading a price that was about half of what it was sold for during the ICO. And as if things were not bad yet, the digital coin value dropped further to trade below $0.03 until the start of 2020, when it made a slight bullish attempt that saw it go above $0.06 though it didn’t hit $0.07.
HBAR maintained a price above $0.03 for the whole of 2020. Then, at the beginning of 2021, the cryptocurrency price started skyrocketing, and the bullish trend continued until mid-March when it hit its all-time high of $0.4495. The coin tried to get past the all-time high price in April to no avail before taking on a bearish trend that has continued till today, as seen in the HBAR chart below.
Figure 2. Hedera Hashgraph price history chart (source)
Although the HBAR price is currently bearish, the digital asset value is still well above the price sold during its ICO. Experts believe that the coin will turntables (as we shall see in the price analysis section and Hedera Hashgraph price prediction sections below) since the current bearish trend is being witnessed across all cryptocurrencies prices popular coins like Ethereum price, Ripple price, and Bitcoin price.
Hedera Hashgraph had its best year in 2021 when the price of HBAR climbed by 811.24 percent from $ 0.031846 to $ 0.290191. Hedera Hashgraph’s worst year was 2019 when the price decreased by -93.94 percent from $ 0.168722 to $ 0.010225. Hedera Hashgraph has grown at a rate of 309.58 percent each year on average during the previous four years. Hedera Hashgraph usually performs best in Q1 with an average gain of 632.04 percent and worst in Q4 with a loss of -28.97 percent.
HBAR Technical Analysis
Both short and long-term technical indicators suggest bullishness for the HBAR coin. Check the following data by Tradingview captured in September of 2021.
Figure 4. HBAR price monthly technical analysis by Tradingview
Figure 4. HBAR price monthly technical analysis by Tradingview
Also, according to Investing.com, most technical indicators indicate a potential bullish trend in the long term.
Figure 5. HBAR price technical analysis using technical indicators (source)
Figure 6. HBAR price resistance and support levels to watch (source)
The support and resistance level helps to show the expected minimum price and the maximum price that a trader should watch in their Hedera Hashgraph forecast.
HBAR Price Prediction 2022-2030
Hedera Hashgraph Price Prediction 2022
Hedera Hashgraph believes that if the cryptocurrency markets do not face any unforeseen shocks or difficulties, they will maintain their strong position as a significant investor attraction. This will result in a large price increase, pushing it past all boundaries to $0.44, according to the HBAR projection.
Hedera Hashgraph Price Prediction 2023
HBAR has built a decentralized public Hedera Hashgraph network that prioritizes user experience. These characteristics may help Hedera Hashgraph reach $0.5 per coin. If demand for functional crypto continues into 2023, the Hedera price projection may change. Save tokens to sell when Hedera Hashgraph bursts.
Hedera Hashgraph Price Prediction 2024
The future of Hedera Hashgraph will be hotly debated. After all, it’s been an excellent year for the firm. Bullish HBAR price forecasts focus on security and scalability. Customer rewards may be enjoyed by participating in interesting promotional events. The price of HBAR could spike to $0.61.
Hedera Hashgraph Price Prediction 2025
Even though cryptocurrency markets are speculative, such a rapid price gain would be regarded as miraculous.
According to Hedera Hashgraph Forecast 2025, HBAR values community involvement. Their initiatives concentrated on education, outreach, and innovation might catapult them to a support level of $0.78 if they keep up their pace.
Over time, the HBAR currency is projected to catch up to other cryptocurrencies and reach $1. Due to its steady performance, Hedera Hashgraph is projected to have a high degree of optimism. Purchase Hedera Hashgraph at the present price resistance level to increase earnings. HBAR’s price is projected to stabilize, bringing traders huge gains.
Hedera Hashgraph Price Prediction 2026
According to the experts, HBAR will surpass all prior records and perform wonderfully, reaching the previously estimated height. A definite success for its dealers would be exceeding all restrictions the following year. By the end of 2026, the HBAR price projection may easily reach $0.89.
Hedera Hashgraph Price Prediction 2027
The 2026 postponement is unlikely to continue long. Hedera Hashgraph (HBAR) is projected to rebound swiftly following a price decrease in 2027.
The Hedera Hashgraph (HBAR) currency is anticipated to reach $1.62 in 2027. Even if HBAR is valued more in 2027, we will remain with our cautious prediction.
Hedera Hashgraph Price Prediction 2028
HBAR should have a good year in 2028. The network should have met some of its goals and preferably gained additional users by then. The price is projected to grow then. Experts estimate its value at $1.79 by 2028.
Hedera Hashgraph Price Prediction 2029
Hedera Hashgraph (HBAR) has a bullish price projection for 2029. According to the website, the currency will rise to an astounding $2.35 per token.
Hedera Hashgraph Price Prediction 2030
The Hedera Hashgraph pricing estimate is $2.8 by 2030. Generally, Hedera pricing analysis predicts a 320 percent price increase in five years and a 400 percent increase by 2030. Based on future HBAR usage, this might imply a bullish trend with new highs.
Where can you buy HBAR coins?
The popularity of the HBAR cryptocurrency has risen in the recent past, and its market cap has pushed it to position forty-nine in terms of market capitalization, according to CoinMaketCap.
The HBAR coin is available on popular crypto exchanges, including Huobi Global, OKEx, Bitrue, Bittrex, and Binance.
Conclusion
If a trader thinks that the Hedera Hashgraph crypto project is a good investment and wants to buy the Hedera Hashgraph HBAR digital coin, it would be necessary to first have a look at the Hedera Hashgraph price prediction to get a clear picture of what to expect to assist you to do your Hedera Hashgraph price forecast the next course of action once you purchase the cryptocurrency.
It is also advisable to seek as much financial advice as possible before investing in any cryptocurrency because of the volatile nature of the cryptocurrency market.
FAQs about HBAR
What’s the HBAR price today?
The live Hedera price on 31 Jan 2022 is $0.212408 with a 24-hour trading volume of $53,218,563. Hedera is down 3.56% in the last 24 hours. The current CoinMarketCap ranking is #33, with a live market cap of $3,843,060,146 USD. It has a circulating supply of 18,092,792,421 HBAR coins and a max. supply of 50,000,000,000 HBAR coins.
Is HBAR a good investment?
As an alternative system to the blockchain, Hederah Hashgraph could corner a corner of the market not yet committed to the blockchain. The main goal is to quickly develop globally decentralized applications using hashgraph technology instead of a blockchain.
Source: https://www.cryptopolitan.com/hbar-price-prediction/