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HBAR Leads The Market Charge Following FedNow Move

Twitter icon  •  Published il y a 8 mois  •  Hassan Maishera

HBAR has outperformed the broader crypto market after Hedera’s Dropp became a FedNow service provider.

TL;DR

  • HBAR is the best performer amongst the top 50 cryptocurrencies by market cap today.

  • The rally comes after Hedera became a FedNow service provider.

Hedera’s Dropp Becomes A FedNow Service Provider

Hedera has become a FedNow service provider. On Monday, the United States Federal Reserve’s FedNow added a Hedera Hashgraph-based micropayments platform, Dropp, as a service provider.

This is a huge milestone for Hedera as FedNow is an instant payment service provider developed by the Fed for depository institutions in the United States.

The news saw HBAR, the native coin of the Hedera ecosystem, rally by more than 13%, making it the best performer amongst the top 50 cryptocurrencies by market cap in the last 24 hours. At press time, the price of HBAR stands at $0.07289. 

Bitcoin, the world’s leading cryptocurrency by market cap, continues its poor performance. BTC remains below the $30k level and has lost less than 1% of its value so far today. BTC is currently trading at $29,330 per coin.

Similar to Bitcoin, Ether’s price has also been stuck around the $1,800 threshold in recent weeks. Ether, the second-largest cryptocurrency by market cap, is down by less than 1% today and is currently trading at $1,839 per coin.

The total cryptocurrency market cap has remained the same over the last 24 hours and currently stands at $1.17 trillion.

 

Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.