The post Why is Hedera (HBAR) Price Pumping Today? Is $1 The Next Target? appeared on BitcoinEthereumNews.com.

The Hedera price has gained quite a momentum over the past few days, where the value has surged 14% over the week. Even today, the price is on the rise, as it is currently trading at $0.05695 after a 2.7% surge and market capitalization of $2,142,862,094, which is also up by 4.4%. Despite being among the less popular cryptocurrencies, its application is high due to its service in dApps creations. The demand among investors is also rising, fueling today’s HBAR price as the trading volume is up by 56% in the last 24 hours, currently at $61,938,047. However, there is still a long way to go, as the ATH of $0.5701 is 90% away from the current value. Why Is Hedera Price Pumping Today? Hedera’s price rally is the outcome of the recovering market conditions, providing a bullish stimulus to many cryptocurrencies. This recovery began with the surge in the Bitcoin price following the Fed’s 50 bps interest rate cuts, which caused the users’ sentiments to turn neutral from the earlier fear. As a result, it has boosted the entire crypto market, causing an upsurge in the Hedera price as well. However, there are two more reasons behind this upsurge, which might also push the HBAR price to new highs. The HBAR Foundation released a sneak peek of the upcoming Renaissance Upgrade earlier, asking the netizens to save the date for October 3, 2024. This post included 28-second video clips, possibly hinting at the upcoming decentralized application (dApp) built on Hedera’s Hashgraph. This has created a buzz among the HBAR holders, showcasing the positive growth of the network. A renaissance awaits. October 3, 2024. https://t.co/QEw5YEPFgZ — HBAR Foundation (@HBAR_foundation) September 18, 2024 There are also rumors of Hedera’s collaboration with the Tech giant Microsoft for long-term projects. A popular crypto…

---

Filed under: News - @ September 24, 2024 9:22 am