HBAR Price Prediction: Potential Trends and Analysis for 2024-2030
Hedera Hashgraph is a blockchain for high throughput, fair transaction ordering, and low-latency consensus. It works essentially like a “public-permissioned” ledger in that anyone can deploy applications on the network, but it invites only selected nodes to take part in the consensus mechanism of the network.
The blockchain creates a variety of applications, including dApps, crypto payments, and identity management on the Hedera platform. The general architecture of Hashgraph technology secures fast transaction processing on the ledger.
Hedera follows the Proof-of-Stake consensus model, which is driven through the Hashgraph Consensus Algorithm, an asynchronous Byzantine Fault Tolerance protocol-aBFT. This model requires the network nodes to stake HBAR tokens to participate in the process of consensus.
Each node will have an influence in reaching the consensus proportional to the amount of HBAR staked, including the HBAR that is staked by other accounts using proxy staking. A transaction reaches validity after two-thirds of the staked HBAR has reached an agreement.
The Hedera network combines a unique set of advanced technology with PoS consensus for security, scalability, and efficiency in a wide variety of blockchain applications.
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HBAR is a native cryptocurrency on Hedera Hashgraph, and as such, it functions as representative fuel for running decentralized applications and punishes malicious actors that could compromise the integrity of the network.
During the second quarter of 2024, Hedera saw the following key performance metrics improve significantly on a QoQ basis. Revenue in USD increased 26%, while revenue in HBAR grew 19%. In addition, Hedera added a 46% rise in average daily transactions and a 31% increase in the average number of daily created accounts.
Despite this performance, HBAR’s circulating market capitalization fell 29% QoQ to $2.7 billion. More positively, HBAR’s ranking among all tokens improved six spots from 36th to 30th.
In May, the HBAR Foundation announced a new initiative geared toward expanding DeFi activities on Hedera. Via its DeFi TVL Growth Initiative, it committed another 100 million HBAR to further grow the Hedera on-chain DeFi economy. The initiative is designed in such a way to raise awareness of Hedera’s DeFi ecosystem and increase the accessibility of DeFi products that come integrated into the platform, ensuring increased liquidity and activity across the network.
Moreover, Archax, a digital asset exchange protocol powered by Hedera’s technology, has tokenized shares of the BlackRock ICS U.S. Treasury Fund. The development places Hedera well to be among those blockchains favoured for real-world asset management.
On August 6, 2020, Hedera made its first step toward openness when it open-sourced its network services, making its smart contract, consensus, file, and token services open to the world. Core codebases, on the other hand, have been made available under an “open-review” model, meaning they let everyone see, although not fully open-source licensing.
In September 2021, the Hedera Council approved the establishment of the HBAR Foundation as a core initiative that will contribute to ecosystem development through the allocation of resources to developers and businesses building on the platform.
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By December 2021, Hedera made two important decisions: the Council decided to purchase IPs of the Hashgraph Consensus Algorithm from Swirlds, Inc., and started the process to open-source the algorithm, which was complete on 5th August 2022; the Council also voted to dissolve co-founder roles of Hedera Hashgraph, and redrew the composition of its management team to ensure more optimized decisions.
Early in 2022, Hedera upgraded its native smart contract services to full compatibility with the Ethereum Virtual Machine. This further expanded Hedera’s developer base. Upgrades between 2020 and 2022 were done incrementally.
In May of this year, Hedera’s technical and management staff moved wholesale to Swirlds Labs, a company owned by Swirlds, Inc. In the same month, Hedera founders Mance Harmon and Leemon Baird became co-CEOs of Swirlds Labs. Change of leadership, indeed.
Hedera announced native staking and HBAR delegation on July 21, 2022, rounded off in four phases in August 2023, to further increase network security and incentivize participation. Third-party EVM tools like Truffle, Hardhat, and The Graph had their mainnet support go live on August 16, 2023, giving developers better access and more capability.
In September 2023, Hedera continued to expand when it released the Stablecoin Studio SDK, which will make possible a stablecoin applications creation. That was followed by the approval from the Council of a role split in the leadership structure of Hedera with the establishment of the position of President of Hedera Hashgraph.
Moving forward, Hedera enabled support for smart contract verification as of November 2023, which allowed developers to make their code transparent. In collaboration with Tuum Technologies, Hedera released the Hedera Wallet Snap, a custom MetaMask plugin, on January 16, 2024, making it easier for users to interact with the network.
Developers on the network use HBAR to pay for sending transactions, manage fungible and non-fungible tokens, and log data on the ledger. Each transaction submitted to the ledger on the network has a reward for the nodes in bandwidth, computation, and storage in the form of HBAR tokens.
Hedera also uses HBAR for staking and delegation in Hedera’s public proof-of-stake model, which counts toward the weight of votes in the consensus process. This consensus system is meant to ensure that it would be hard and costly for malicious actors to manipulate consensus by requiring them to obtain and stake more than one-third of the total HBAR supply on the network’s supposedly unrealizable burden, at least during the first five years of the platform.
HBAR provides the facility of fast transactions: 10,000 per second at finality. It does so with the hashgraph consensus mechanism of Hedera. The reward for node operators keeps incentivizing the node operators to do this computation that keeps the network stable and performing very well.
Since its release, HBAR has gone through several ups and downs in value. After its introduction in August 2018 with a maximum supply of 50 billion coins, the design of the token itself ensured that the markets did not fluctuate wildly.
Trading for HBAR started in September 2019. The prices were hovering below $0.03 for quite some time. However, 2021 changed this all as part of the cryptocurrency boom, which saw the token shoot to an all-time high of $0.56 in September of the same year, a really wild period for this token.
By May 2022, HBAR was under strong bearish pressure and mostly traded within the range of $0.03 to $0.1. The first weeks of 2023 were promising and created a short-lived bullish movement; however, it was rather short-lived.
Bearish sentiment has remained in place since the beginning of 2024, though HBAR has managed to hold above its support level of $0.045. As of September 2024, the token changes hands at around $0.048.
The trend of Hedera has been moving in a falling channel for the last five months, which points toward a correction phase. However, the cryptocurrency is yet to establish any strong level of support from where a long-term bullish reversal could be fomented.
The technical indicators of current markets do not provide any glimpses of the likelihood of a breakout. The downtrend seems intact, which may put pressure on the price level of $0.048. Therefore, this month’s average HBAR price is likely to oscillate around the $0.05 level.
Throughout 2024, Hedera’s price is expected to be bullish. HBAR may be at $0.15 high and $0.06 low according to the technical analysis estimate. The average trading price this year is predicted at $0.125.
In 2025, the price of HBAR is expected to continue rising. The minimum price can be around $0.12, while the maximum price can go as high as $0.225. The average price this whole year can be $ 0.18.
The prediction for 2026 is quite good, and HBAR might range between $0.2 and $0.5. On the upside, it may reach $0.95 and can easily trade at approximately $0.4 on average.
In 2027, Hedera will still witness an increasing trend. The price is likely to reach the minimum value of $0.2 and may rise to $ 0.4. The average this year will be around $0.3.
During 2028, the cryptocurrency will keep on experiencing reasonable gains. The minimum price that HBAR coin may reach is $0.05 and a maximum of $ 0.15.
This will still increase by 2029 and might reach a minimum of $0.1 and a high of $0.3. Its average this year will be $0.25.
From the year 2030, even though there are not expected to be very many leaps, it’s possible that HBAR will achieve new heights in price. According to the forecast, the maximum price will reach about $0.6 and can be as low as $0.45.
Several different factors come into play when considering Hedera Hashgraph as a solid investment. The unique features of the Hedera network and its ongoing performance are what have contributed most to the investment appeal of HBAR.
First and foremost, the hashgraph consensus algorithm developed by Hedera is one of the most striking features that has placed Hedera unmistakably above the more classic blockchain technologies. This system thus provides a way to achieve quicker and more secure transactions, contributing to the general efficiency of the network.
Currently, Hedera processes over 3 million transactions daily, which is proof that its users are increasing and its adoption is growing. This one thing speaks volumes for high user activity, another collier of further increase in the value of Hedera over time. Moreover, investors are very optimistic about HBAR’s perspective, considering that technology growth and growing use cases promise further appreciation in price at least during favorable market conditions.
Above is our entire review of Hedera and HBAR price prediction in the period 2024-2030. Hope it will be useful for you to make the right investment choice.
It is difficult to predict the near-term peak price of HBAR as the current market trend is still unclear. However, with the weak momentum of HBAR, a price of $20 may be a pipe dream.
$5 should be assessed in 2025 if the market gains extreme bullish momentum. At the moment, it seems very unlikely that HBAR will reach $5.
According to our forecast, HBAR could grow steadily by the end of 2024.
You can track price action based on Coincu’s charts or analytics platforms like Messari.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
Palo Alto, California, 21st November 2024, Chainwire
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