HBAR rose 150% for the week as the Hedera Hashgraph ecosystem expands
New partnerships, NFT integration, and a surge in the price of altcoins across the market have fueled the recent Hedera Hashgraph (HBAR) surge by 150%.
Real-world introduction and blockchain integration is the ultimate goal of any serious fintech protocol aiming to provide possible solutions to some of the greatest challenges in finance and data transmission.
Hedera Hashgraph, a public network that uses Hashgraph’s distributed ledger technology to increase scalability and reduce transaction costs.
4 hour frame HBAR price chart | Source: TradingView
Two of the main reasons for the recent price hike for HBAR are the growing list of ecosystem partnerships and the introduction of the ability to mint NFTs into the network.
Hedera partnership expands HBAR availability
The Hedera Partnership Program is a branch of the Hedera community that aims to attract more integrators, technology partners and enterprise applications to the Hedera blockchain.
As Bitcoin magazine reports, the partnership has attracted new partners such as the London School of Economics and Political Science and the Indian Institute of Technology Madras to join Hedera’s board of directors.
Other recently announced partnerships include a partnership with Fobi, Dropp, and Filecoin to work with Hedera to launch a $ 200,000 developer funding project to help improve Web3 interaction skills.
NFT integration with Hedera .network
The second factor that excites the Hedera protocol is the introduction of NFT minting in the network.
The latest version of Hedera Service Code v0.17.4 on the mainnet contains updates for the Hedera Token Service:
???? Custom fees (including NFT license fees)
???? Metadata standards for tokens
– Hedera Hashgraph (@hedera) September 2, 2021
- Customs fees (including NFT license fees)
- Metadata standard for tokens “.
NFT field is one of the hottest trends in 2021, and while price action and trading activity for NFT has decreased significantly since peaking in August, the sector is likely to expand in the near future.
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According to Cointelegraph