Institutional adoption is skyrocketing in the cryptocurrency sector and could change everything in the face of the next bull cycle. Over the past few months, the growth of interest from governments along with increased regulations has caused some of the largest companies in the world. world have begun to adopt blockchain technology and cryptocurrencies.
However, this could be nothing compared to what is to come in the coming years, especially considering that there is less than a month left for the final decision on the ETF. The institutional adoption of some projects is attracting the attention of investors. as is the case of Hedera HashGraph.
| What is Hedera? |
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In case you have never heard of this project before, it is a decentralized open source and proof of stake network that differs from other blockchains such as cardano, polka or bitcoin Hedera is based on a consensus algorithm known as the hashgraph and this is something very important which I want to highlight since Hedera is not a blockchain as such but rather it is a network that uses a system called HashGraph.
| What is HashGraph? |
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It is a new system that performs functions very similar to the blockchain, allowing people to interact and carry out online transactions in an efficient and secure way without the need for third-party companies using the native hbar token to carry out these operations also thanks to smart contract advanced growth EVM contracts that integrate Hedera along with its easy-to-use APIs allow developers to create very powerful applications and web 3 solutions that improve the sector and thus expand adoption.
In terms of applications, this project has quite a few use cases focused mainly on six areas, first of all in the decentralized finance sector, allowing the creation of new decentralized exchanges, loan protocols that bridge between different networks and another series of optimized applications thanks to its
technology.
We also find the nfts sector allowing the creation and mining of collections and unique pieces of nfts that represent digital assets, physical goods, etc., etc. Thirdly, it also allows the creation of a decentralized identity with which you can safely maintain your privacy when entering the web 3 sector.
Another of the sectors with the greatest potential for Hedera is payments, allowing, thanks to its scalability and low fees, to make practically instantaneous payments, which gives numerous use cases, allowing the creation of applications that make the most of institutionally backed hbar stable coins or own tokens. to make payments in real time.
On the other hand, we find sustainability, another of its strong points, which, as we will see later, can differentiate Hedera from the competition and give it a very important advantage in the face of a society that is increasingly concerned about sustainability and, finally, it also allows for various applications in the data sector, recording data in a scalable and fast way and regarding its origins, Hedera was funded through an ICO in August 2018 and was launched for the first time a little later in September 2019.
The evolution of the price of Hedera has been increased thanks to the bull market where the price is around 0.077 cents after having achieved a growth of more than 12% where we can see that in 2023, just as it has been for bitcoin and The majority of altcoins have also been very positive for Hedera, going from the 0.03 cents it was worth at the beginning of January to $0.07, adding more than 116% of growth.
As for its historical maximum, it was $0.47 cents, so despite the great increase in 2023, it is still far below its historical maximum reached in September 2021, which undoubtedly still leaves a great margin for growth to come. However, we also have to take into account a very important thing: not only do we have to look at the price and the previous historical highs to see its growth potential, but we also have to look at its market capitalization since in many cases the price could be very far from your previous historical maximum.
However, because large amounts of tokens have been released, The Market Cat may be similar or even greater than when the project was at historical highs years ago, which makes it even more difficult for the token to once again have growth as aggressive as in other cycles or even to recover the prices that we saw in other bullish markets, which is an investment option (in the long term) since its value is very low and it can generate good profits if it carries out a bullish rally.
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More than 4 posts are active in a week. You are breaking our community rules again and again. I am going to mute your last post. You will not allow to edit it or post this muted content again. Thank you
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Friend, you are wrong if you count this week, what I have is 3 publications and I have 3 consecutive weeks following the rules.
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