Ripple (XRP) Rival Hedera (HBAR) Achieves 19,000,000,000 Transactions as FedNow Ecosystem Flourishes

• Hedera achieves 19B transactions on its open-source network, powered by Hashgraph consensus. 

• Token Unlock reveals HBAR token unlocking event, $65M value. 

The Hedera decentralized open-source network has achieved a remarkable feat by exceeding 19 billion transactions on its mainnet. Hedera is distinguished as a Layer1 blockchain compatible with the Ethereum Virtual Machine (EVM) and utilizes the groundbreaking hashgraph consensus mechanism to offer users rapid transaction processing and cost-effective fees. 

The network recently reached a noteworthy milestone, accumulating a Total Value Locked (TVL) of $35 million and effectively managing 18 billion transactions. This notable accomplishment underscores the robustness and attractiveness of the Hedera ecosystem.

Notably, Token Unlock has revealed that Hedera [HBAR] is scheduled to launch its upcoming token unlocking occasion on 1 September. This event will mark the release of 1.5 billion HBAR tokens, constituting 3.48% of the tokens in circulation. These tokens will hold a value of approximately $65 million.

As per Token Unlock’s data, the token unlock distribution plan encompasses the issuance of 332.24 million HBAR tokens for network governance and related operations, 416.69 million HBAR tokens for purchase agreements, and 403.53 million HBAR tokens for ecosystem and open-source development endeavors. 

In the context of HBAR, which possesses a total supply of 50 billion tokens, the current circulating supply is 33.03 million, accounting for 66% of the total token supply. After the token unlocking event, only 130 million HBAR tokens will remain locked.

Current HBAR trading statistics

Hedera (HBAR) has been undergoing a downward trajectory recently, as evidenced by its notable decline of 11% in price over the last week. HBAR is trading at $0.0543, marking a reduction of 2.13% within the past 24 hours. During the initial trading hours of today, Hedera experienced an upswing to $0.5838 before swiftly retracting.

Additionally, its trading volume has experienced a decrease of 11.56% over the past 24 hours, indicating diminished trading activity attributed to the prevailing bearish sentiment. Notwithstanding the ongoing bearish trend, Hedera has achieved an upward trajectory of 8.46% over the last 30 days. Despite the current downward phase, Hedera exhibits indications of a potential price surge and may rally to $0.06 in the upcoming days, capitalizing on positive developments within its ecosystem.

Anticipated Hedera Growth Following Exciting Ecosystem Advancements

On August 23, TYMLEZ, a firm specializing in blockchain-driven enterprise-level software solutions, introduced a novel carbon management tool that operates on the Hedera network.

The CarbonCentral solution is designed to aid enterprises in formulating strategies for lessening or compensating their carbon emissions. It leverages dMRV tokenization to empower companies to establish carbon credit units tailored to their specific requirements.

Prospective HBAR Surges Driven by Strategic Collaborations and Announcements

Hedera Hashgraph has forged several partnerships that have the potential to incite a surge in its token’s price. For instance, the collaboration with SaucerSwap Labs resulted in the listing of HBAR on the decentralized exchange (DEX) SaucerSwap.

Additionally, the development team introduced the HashPack Wallet, which furnishes HBAR holders with a seamless gateway to dApps, DeFi platforms, and NFTs. This enables users to actively participate in the Web3 domain and explore the captivating possibilities inherent in the virtual realm.

In the previous month, RAK Digital Asset Oasis (RAK DAO), situated in the UAE as a free zone, joined the HBAR Foundation to foster a sustainable Web3 environment. This partnership will bolster the use of blockchain technology in emerging economies and applications within the Hedera ecosystem.

Introducing such news and establishing strategic partnerships have the potential to elevate the demand for HBAR, thereby enhancing its likelihood of experiencing a surge in value that could propel it beyond the $0.06 price threshold.

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