In the dynamic world of cryptocurrency, Hedera (HBAR) has recently made a noteworthy climb, with its price reaching $0.060348 today. This surge is accompanied by a robust 24-hour trading volume of $143,744,011.34. Over the past 24 hours, Hedera's value has experienced a remarkable increase of 9.40%, while in the last 7 days, it has seen an impressive surge of 18.33%. The circulating supply of 33 billion HBAR tokens contributes to Hedera's market capitalization, which stands at an estimated $1,972,273,489.
Exploring Hedera: A Decentralized Network of Possibilities
Hedera presents itself as a decentralized public network that empowers developers to construct secure and equitable applications with near real-time consensus. Distinguished by its council of visionary global innovators including Avery Dennison, Boeing, Deutsche Telekom, and Google among others, Hedera's platform is both owned and governed by this diverse assembly. This influential council lends credibility and a broad spectrum of expertise to Hedera's operations and advancements.
The Role of Hedera Consensus Service (HCS)
Hedera Consensus Service (HCS) plays a pivotal role in facilitating trust within applications and permissioned networks. By enabling the creation of an immutable and verifiable log of messages, HCS establishes a robust foundation for transparency. This innovative service allows application messages to undergo consensus within the Hedera network, acquiring a trustworthy timestamp and a fair order in the process. HCS's utility extends to various applications, from tracking assets along complex supply chains to generating auditable event logs in advertising platforms, and even functioning as a decentralized ordering service.
Available Platforms for Acquiring Hedera (HBAR) Tokens
For those seeking to invest in or trade Hedera (HBAR) tokens, several centralized cryptocurrency exchanges offer access. A prominent choice among these is Upbit, renowned for hosting the most active trading pair HBAR/KRW, boasting a trading volume of $57,263,763 over the last 24 hours. Notable alternatives include Binance and Bitrue, presenting diverse options for those interested in HBAR tokens.
Current Trading Volume and Market Activity
The daily trading volume for Hedera (HBAR) tokens has surged to $143,744,008 over the past 24 hours, showcasing a substantial increase of 123.60% in comparison to the previous day. This surge in trading activity underscores growing interest and engagement within the Hedera market.
Historical Highs and Lows: Insights into Hedera's Price Trends
Hedera's highest recorded price to date is $0.569229, achieved on September 15, 2021, nearly two years ago. In contrast, the current price reflects a substantial decrease of -89.39% from this historical peak. On the other end of the spectrum, the lowest price observed for Hedera (HBAR) tokens was $0.00986111 on January 02, 2020, over three years ago. This marks an impressive increase of 512.58% in comparison to the all-time low price.
Market Capitalization and Potential Valuation
Presently, Hedera (HBAR) enjoys a market capitalization of $1,972,273,489, securing its position as the 31st ranked cryptocurrency on CoinGecko's platform. This valuation is calculated by multiplying the token's price by the circulating supply of HBAR tokens, which currently stands at 33 billion.
Anticipating Full Potential: Fully Diluted Valuation of Hedera
Hedera's fully diluted valuation (FDV) is projected at $3,028,719,564, predicated on the hypothetical scenario of 50 billion HBAR tokens being in circulation. However, it's essential to recognize that the realization of this valuation might transpire over multiple years, contingent upon the emission schedule of HBAR tokens.
Comparative Performance and Sentiment Analysis
Over the last 7 days, Hedera (HBAR) has exhibited an impressive price increase of 18.30%, outpacing the broader global cryptocurrency market, which has experienced a neutral 0.00% change. In comparison to similar Layer 1 (L1) cryptocurrencies, Hedera showcases a more significant growth rate, with the latter group demonstrating an increase of 0.80%.
Community Outlook: Positive Sentiment Prevails
Within the Hedera community, an overwhelming 88% of users currently express bullish sentiments towards Hedera (HBAR), reflecting a positive outlook for the token's potential and future developments.
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