Around $129 billion of value was wiped off the cryptocurrency market in a 24-hour period as of 4:03 am ET, on 5 May 2022 according to data from CoinMarketCap. The selling of cryptocurrency was sparked by a painful day on Wall Street where the Dow Jones Industrial Average lost more than 1,000 points last Thursday, marking its worst single-day drop since 2020.
So if you are looking to buy and hold, then it’s always good to start scaling in carefully when there’s proverbial blood in the streets, advised Chris Brookins, co-founder and CEO of RociFi. Other aspects of the crypto market are still active, like NFTs and various DeFi protocols, and the market might regain its foothold after panic-selling.
Hedera Hashgraph (HBAR) cryptocurrency is one of the altcoins that enjoyed a bullish trend from the beginning of 2021 to the end of March 2022. As a result, many crypto traders have taken an interest in the digital coin since its blockchain technology shows many prospects of becoming a force to reckon with within the blockchain industry.
The question in every crypto investor’s mind is this: When will HBAR’s price rise again? Despite the overall bear market and what happened with LUNA, everyone can see clearly that HBAR Coin has strong buying potential. Now many indicators are indicating a bullish trend. So, can we see this scenario happening soon: Is the HBAR Coin due for a retest of its all-time high?
Today’s Hedera price is $0.066301 with a 24-hour trading volume of $67,453,164. Hedera is up 5.59% in the last 24 hours. The current CoinMarketCap ranking is #34, with a live market cap of $1,397,947,708. It has a circulating supply of 21,084,776,584 HBAR coins and a max. supply of 50,000,000,000 HBAR coins.
We shall look at what HBAR token is, how the blockchain operates functions, its price action, and its price prediction for the remaining part of 2021 and 2022 to help traders evaluate whether the cryptocurrency project is a profitable investment or not.
What is an Hedera Hashgraph (HBAR) token?
The Hedera Hashgraph token, commonly denoted as HBAR, is the native cryptocurrency of the Hedera Hashgraph blockchain network. Its current price is $0.1696.
The Hedera Hashgraph cryptocurrency has two roles in the Hedera Hashgraph blockchain. The first role is fueling services like transactions, file storage, and execution of smart contracts, and the second is securing the blockchain network through staking. HBAR holders stake their HBR tokens to help maintain the integrity of the blockchain platform.
There is a maximum total supply of 50 billion HBAR tokens, and out of these, only 18% (8.95 billion HBARS) are currently in circulation supply, which represents an increase of about 28% since the start of 2021 when the coins in circulation supply were about 14% of the total coin supply.
The Hedera Hashgraph network releases the HBAR tokens in cycles, ensuring that the total coins in supply during the first few years of the blockchain remain below the two-thirds required to hold consensus. Every month, Hedera releases a month detailing how it shall distribute the next wave of HBAR tokens through public reports published on its official website in the HBAR Economics sections (under the HBAR tab) in the ‘What is Hedera’s circulating supply of HBAR?‘ question.
According to Hedera’s whitepaper, about 17.03 billion HBAR tokens, about 34% of the total maximum coin supply, will be in the circulation supply by 2025.
What is the Hedera Hashgraph blockchain?
Hedera Hashgraph blockchain is a distributed ledger technology that provides individuals and businesses with a platform to create decentralized applications (DApps). It is portrayed as the ‘trust layer of the internet.
Hedera’s founders and the rest of the development team designed it to offer solutions to some of the challenges (e.g., instability and slow performance) of most older blockchains like Blockchain and Ethereum.
The blockchain started through an ICO in 2018 and introduced its mainnet a year later in 2019.
HBAR uses a consensus mechanism known as Hashgraph consensus. It involves a rotating governing council of 39 diversified organizations from different industries. This council is the one that is involved with managing and updating Hedera Hashgraph codebase, voting on decisions about the platform, and operating the blockchain’s initial nodes.
Besides the consensus mechanism, the blockchain also uses a proof-of-stake (PoS) consensus mechanism in ensuring that the integrity of the network is maintained and thus ensuring that it is secure. The PoS allows HBAR holders to stake their tokens for this purpose.
The overall security setup of Hedera Hashgraph enables it to achieve an asynchronous Byzantine fault tolerance (ABFT) that guarantees transactions are completed within the stipulated time regardless of whether some data is available or not.
Byzantine fault tolerance (ABFT)
The overall security setup of Hedera Hashgraph enables it to achieve an asynchronous Byzantine fault tolerance (ABFT) that guarantees transactions are completed within the stipulated time regardless of whether some data is available or not. Hedera is the first and only public DLT to use this consensus algorithm, which we believe will be both faster and more secure than other existing public networks.
In a distributed system such as cryptographic ledgers, Byzantine Fault Tolerance (BFT) is a plan’s ability to tolerate that an arbitrary number of faulty components fail, inducing the distributed system to commit abnormal behaviors. The Byzantine failure model is a stringent assumption where any false or malicious part can decide or perform any operation, including halting execution, controlling other users’ access to shared resources, delaying messages, replaying old messages, dropping data packets.
What makes Hedera Hashgraph blockchain unique?
The hashgraph consensus mechanism used by Hedera Hashgraph is entirely different from the consensus mechanisms used by most blockchains, and it enables Hedera Hashgraph to offer better services in terms of scalability, speed, and cost of transactions.
Hedera Hashgraph can handle over 10,000 transactions per second, which is way far more than what the likes of Bitcoin and Ethereum blockchains can process per second. And while it takes between 10 to 60 minutes for transactions to be confirmed in blockchains like Bitcoin and Ethereum, it only takes 3-5 seconds for a transaction to be established in Hedera Hashgraph.
Regarding the cost of transactions, Hedera Hashgraph is way cheaper than most blockchain networks. Its average transaction fee is $0.0001 per transaction in Hedera Hashgraph, while it costs $22.57 per transaction in the Bitcoin blockchain.
Figure 1. Comparing HBAR blockchain to Bitcoin and Ethereum (Source)
Hedera Hashgraph also has several features that make it an excellent blockchain for its users, and these include:
- Smart contract functionality that allows DApps developers to develop powerful DApps.
- Enabling users to mint both fungible and non-fungible tokens (NFTs) for the DApps that they develop on Hedera Hashgraph.
- An additional PoS consensus algorithm ensures that the network is secure while offering HBAR users a means of earning a passive income by staking the tokens.
- A decentralized file storage system that includes features like controlled mutability, time-based file expiry, and proof-of-deletion.
Hedera Hashgraph Price History
When the HBAR coin was first sold to the public through an ICO, the coin price was $0.12 and although the token has gone through had its ups and downs in the market, it still has a positive ROI, which currently stands at 40.2% against the US dollar.
HBAR crypto started trading in September 2019, a year after its ICO was conducted, and it started trading a price that was about half of what it was sold for during the ICO. And as if things were not bad yet, the digital coin value dropped further to trade below $0.03 until the start of 2020, when it made a slight bullish attempt that saw it go above $0.06 though it didn’t hit $0.07.
HBAR maintained a price above $0.03 for the whole of 2020. Then, at the beginning of 2021, the cryptocurrency price started skyrocketing, and the bullish trend continued until mid-March when it hit its all-time high of $0.4495. The coin tried to get past the all-time high price in April to no avail before taking on a bearish trend that has continued till today, as seen in the HBAR chart below.
Figure 2. Hedera Hashgraph price history chart (source)
Although the HBAR price is currently bearish, the digital asset value is still well above the price sold during its ICO. Experts believe that the coin will turntables (as we shall see in the price analysis section and Hedera Hashgraph price prediction sections below) since the current bearish trend is being witnessed across all cryptocurrencies prices popular coins like Ethereum price, Ripple price, and Bitcoin price.
New developments in the Hedera Hashgraph blockchain network
The Hedera Hashgraph platform has involved itself in the NFT space, and recently, it partnered with HashAxis, a global non-fungible token (NFT) marketplace built on Hedera. The launch of Hash Axis on the Hedera Network supports the company’s mission to bring distributed ledger technology to the masses.
Again, atma.io, a global materials science company specializing in designing and manufacturing a wide range of labeling and functional materials, partnered with Hedera to account for the carbon emissions of billions of unique items.
HBAR’s banner was seen at the Consensus 2022 event recently. It is essential to know that the Consensus Festival, presented by Coindesk, is one of the most sought-after events in the crypto-industry.
HBAR’s Metaverse Fund recently committed $250 million to bring customers into the Hedera ecosystem at scale and accelerate the development of applications in high-growth target areas such as gaming and virtual worlds, social platforms & fan engagement, etc.
HBAR Technical Analysis
HBAR is currently below its 50-day and 100-day Moving Average in the four-hour chart above. HBAR’s current price is in a downward trade, and the bears are in control of the market. The 50-day MA is currently acting as dynamic resistance to the cost of the coin. HBAR’s technical oscillators point to the sell zone, meaning there may be more downward trend in the next few days.
HBAR Price Prediction By Authority Sites
According to Wallet Investor, HBAR is a bad investment long-term investment. They predict its price will dip in one year. According to Wallet Investor, HBAR is expected to reach $0.00628 by the end of 2022. In five years, HBAR is likely to devalue by 98%.
Trading Beasts gave a three-year price prediction on HBAR. Their forecast on HBAR is somewhat optimistic. They predict that HBAR will increase by 46.82% and have a minimum price of $0.0823 with a maximum price of $0.121 in 2022.
By 2023, Trading Beasts forecasts that HBAR will increase by 72.04%. The minimum price of the coin by that time is expected to be $0.0964, and the maximum price would be $0.1418. The average price is predicted to be $0.1134.
HBAR’s bullish momentum is expected to continue in 2024, and Trading Beasts expects a 96.49% increase. The coin is expected to have a minimum price of $0.1101, a maximum price of $0.1619, and an average price of $0.1295.
2025 seems to be the year for HBAR, according to Trading Beasts. The coin is expected to have a minimum price of $0.1306 with a maximum price of $0.1921.
Digitalcoin’s Hedera Hashgraph price forecast is also bullish. They expect the coin to increase slightly by the end of 2022; its minimum price by that time is expected to be $0.0810. Again, its maximum price is predicted to be $0.0918.
By 2027, HBAR is expected to have a minimum price of $0.13, a maximum price of $0.19, and an average price of $0.15. Digitalcoin also predicts that HBAR will have a maximum price of $0.31, a minimum price of $0.29, and an average price of $0.30 by 2030.
|Year||Minimum Price||Average Price||Maximum Price|
Hedera HBAR Price Prediction 2022
Based on past performance, Hedera HBAR price prediction for 2022 is $0.15 at maximum. The minimum price of the coin would be $0.13, the same as the average price.
Hedera HBAR Price Prediction 2023
HBAR can break through the $0.22 barrier and hold the market. HBAR should also dive more into the NFT space by next year. Also, we expect that HBAR’s Metaverse Fund would bring more value to the HBAR community. By then, the minimum price of the coin is expected to be $0.18, and the average price should be $0.19.
Hedera HBAR Price Prediction 2024
The Hedera HBAR Price Prediction in 2024 is $0.31. As developments from 2022 and 2023 mature, we expect the coin to have a minimum price of $0.26 plus an average price of $0.27.
Hedera HBAR Price Prediction 2025
We expect HBAR to continue its bullish momentum in 2025. However, we are optimistic that in 2025, the minimum price of HBAR will be $0.38, while its maximum price can reach $0.45. On average, the trading price is expected to be $0.40.
Hedera HBAR Price Prediction 2026
HBAR price is also expected to soar in 2026 and surpass its all-time high. The coin’s price is expected to reach a maximum of $0.67. The minimum price of the coin is forecasted to be $0.57. In addition, HBAR is expected to have an average price of $0.59.
Hedera HBAR Price Prediction 2027
We are also optimistic about HBAR Price Prediction in 2027. We expect that the coin will have a minimum price of $0.83. The cryptocurrency is also likely to have a maximum price of $0.99, plus an average price of $0.86.
Hedera HBAR Price Prediction 2028
Hedera HBAR price in 2028 might hit new heights. We expect the coin to surpass the $1 mark. The coin is predicted to have a maximum price of $1.45 with a minimum price of $1.18. The average trading price of the coin is expected to be $1.23.
Hedera HBAR Price Prediction 2029
In 2029, we predict HBAR will have a minimum price of $1.75 and a maximum price of $2.09. The coin will also trade at an average price of $1.80.
Hedera HBAR Price Prediction 2030
We predict that HBAR will attain the $3 price mark in 2030. The coin is expected to see a significant leap in 2030, as we hope the coin to have a maximum price of $3.07, with a minimum price of $2.63. The average price is expected to be $2.72.
Hedera HBAR Price Prediction 2031
In 2031, HBAR will have a maximum price of $4.55 with a minimum price of $3.77. Its average price is expected to be $3.91.
Hedera Hashgraph Price Prediction by Industry Experts
The HBAR token is a utility token, as it continues to secure billions of dollars in major sectors such as NFTs and the metaverse space. With that in mind, @hbar_to_moon suggests that metrics show HBAR will become the world’s only good #DLT network. According to him, the HBAR price is not the right metric to look at yet, because all crypto is still moving with Bitcoin, but that will change too.
Famous crypto influencer, Jack Gordon, predicts that HBAR can reach $100 in the long–term, making it a good investment. They also expect HBAR to achieve a 2 Trillion market cap around that time.
The crypto market is forecasted to grow in the coming years, with HBAR’s price expected to rise along with it. Nevertheless, several factors could lead to the rise and fall of prices in the crypto market. These include advances in technology, actions of government, and regulatory bodies.
Some crypto analysts believe that the Hedera coin can be an excellent investment in the future. But we say that the coin can experience a price rise if only it comes up with more use cases. If you’re a long-term investor in the Hedera Hashgraph project, it can be undoubtedly beneficial. The project has the backing of some technology giants, and their support makes Hedera stable.
HBAR’s price is also expected to soar in 2026 and surpass its all-time high. The coin’s price is expected to reach a maximum of $0.67. The minimum price of the coin is forecasted to be $0.57. In 2031, HBAR will have a maximum price of $4.55 with a minimum price of $3.77. Its average price is expected to be $3.91 ten years from now. Wondering about the circumstances for $100?
Hence, anyone who wants to invest in HBAR should do so with caution – but only after doing their research. Overall, we predict a brighter future for HBAR.