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HBAR Up By 5% After Hedera Secures $250M Deal with Saudi Ministry of Investment

Twitter icon  •  Published il y a 2 mois  •  Hassan Maishera

HBAR is up by more than 5% in the last 24 hours, outperforming the broader crypto market after Hedera penned a $250 million deal with the Saudi Ministry of Investment.

TL;DR

  • HBAR, Hedera’s native coin is up by 5% in the last 24 hours and is now trading at $0.0732 per coin.

  • Hedera has secured a $250 million deal with the Saudi Ministry of Investment.

Hedera Scores Big in Saudi

HBAR, the native coin of the Hedera ecosystem, is up by more than 5% over the last 24 hours. The positive performance makes it the second-best performer amongst the top 50 cryptocurrencies by market cap.

At press time, HBAR’s price stands at $0.0732 and could rally higher in the short term. The rally comes after the Hedera team announced via X on Tuesday that it has secured a $250 million deal with the Saudi Ministry of Investment. 

According to a local report, Hedera has launched the DeepTech Venture Studio’ in the capital Riyadh. Hedera revealed that the DeepTech Venture Studio will be specially designed to empower local Saudi companies, as well as international companies interested in operating in the Kingdom.

Furthermore, the studio will develop innovative solutions and benefit from deep technology such as artificial intelligence, blockchain, robotics, Internet of Things, virtual reality, and quantum computing.

HBAR is the second-best performer amongst the top 50 cryptocurrencies by market cap in the last 24 hours, behind Kaspa. The coin is also outperforming the other major cryptocurrencies.

Despite HBAR’s rally, the total cryptocurrency market cap remains around the $1.65 trillion region, up by less than 1% in the last 24 hours.

 

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.