The price of HBAR, the native cryptocurrency of Hedera Hashgraph, has increased by 80% since early June, reaching levels not seen since May 2023.
Price Dynamics of HBAR
Over the past six days, the HBAR token has risen in price, reaching $0.2285. This level is the highest since March 27, driven by an overall increase in the altcoin market.
Increase in Ecosystem's Total Value
The total value locked in the Hedera ecosystem has increased to $215 million, significantly higher than the year-to-date low of $151 million. Major players in the platform include Stader, SaucerSwap, Bonzo Finance, and Libre Capital.
Technical Analysis of HBAR Price
On the daily chart, the HBAR price recovered after forming a double-bottom pattern at $0.1255. Hedera is approaching the resistance level at $0.2288, with continued bullish momentum as investor activity rises.
The surge in HBAR and the related investor interest in crypto assets and ETFs indicate positive trends in the Hedera ecosystem and the potential for further price increases.
