Over the previous week, Hedera Hashgraph (HBAR) has outperformed the general crypto market. In the last seven days, HBAR Price has more than doubled in value and is up 1,600 percent in 2021. After hitting $0.47 on September 15, the altcoin has gotten a lot of attention. During the previous bear market, which began in May, the cryptocurrency fell as low as $0.13 before resuming its parabolic rise that has lasted since July.
Why is HBAR Price Rising?
Hedera Hashgraph has several advantages, including cheaper fees and a focus on commercial blockchain.
The rise of cryptocurrency is due to a number of causes. One is Hedera Hashgraph’s notification that a special announcement will be made on September 16, the project’s second anniversary of open access.
The announcements made during the approaching anniversary festivities may give more upside, but its rising popularity has made it more famous among investors and potential enterprise clients.
The price of Hedera Hashgraph increased as investors reacted positively to the new addition to the platform’s governing council. The developers revealed today that the Indian Institute of Technology Madras has joined the governing council.
HBAR to $1?
The price of Hedera Hashraph is rising as investors remain confident in the platform’s long-term prospects. This latest bull run has brought HBAR’s price to new all-time highs of $0.47 today, marking the fourth straight day in the green since September 11. HBAR was trading at $0.4617 at the time of this writing.
If the price continues to rise, it may enter unknown territory, with targets of $50 and $60. If the HBAR price falls below $0.40, there could be some initial downside resistance between $0.40 and $0.36. In the event that the market becomes overbought, sellers may find initial support near $0.30.