Here’s why HBAR is rising

The price of Hedera Hashgraph has done pretty well in recent days. HBAR, its native token, is trading at $ 0.2395, which is about 28% above this year’s lowest level. Its total market cap has improved to approximately $ 4.3 billion.

Hedera EVM smart contracts

Hedera Hashgraph is a leading blockchain project started by Mance Harmon and Leemon Baird. It is an advanced Ethereum-killer that has many use cases in industries such as fraud mitigation and payments processing.

Hedera uses a different approach compared to other blockchain projects. For example, unlike Ethereum, it has a governing council made up of companies such as IBM, ServiceNow, Wipro, and Boeing.

Hedera’s price is rising as investors respond to the latest partnership with Ubisoft, a leading gaming company. The deal will see Ubisoft join the network’s governing council.

Ubisoft will use Hedera Hashgraph products to develop its decentralized applications (DAPP) and non-fungible tokens (NFT). It prefers Hedera’s network because of the faster speed and stability of the network compared to Ethereum.

Hedera has an average transaction per second of approximately 50 and has handled 126 million transactions over the past 30 days.

Therefore, the price of HBAR is rising as investors bet that more companies will start to thrive in its ecosystem. Hedera recently partnered with Alliance Block.

The second reason why Hedera Hashgraph’s price has been so good is the recent launch of its smart contracts with EVM. The upgrade includes Solidity smart contract integration with the Hedera Token Service. Solidity is an important programming language used by almost 30% of all Web3 developers.

In a statement, Gehrig Kunz, Vice President of Product Marketing said:

“The integration of Smart Contracts 2.0 with the Hedera Token Service makes life easier and more flexible for developers and their end-users looking to tokenize and transfer assets over the network.”

Hedera Hashgraph Price

The four -hour chart shows that the price of HBAR has been on a slow bullish trend over the past few days. Song on the road, the price of the coin has generated an upward channel shown in black. The price is currently in the upper part of this channel. At the same time, the price is slightly below the 38.2% Fibonacci retracement level. It also moved above the 25-day and 50-day moving averages.

Therefore, there is a possibility that the Hedera price will continue its bullish trend as the bulls target the main resistance at $ 0.2643.

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