Here’s Why This Analyst Foresees Hedera (HBAR) Breaking Into The Crypto Top 10
11 August 2023 - 7:00AM
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Hedera popularly known as HBAR, has lately been drawing attention
in the world of cryptocurrencies. An influencer from the
crypto-sphere recently asserted that this digital currency is
poised to cement its position among the top 10 in the industry.
HBAR’s Position In The Upcoming Bull Market Classy Crypto, a
crypto-focused YouTube channel, hosted a discussion where the
anchoring influencer laid out his reasoning, foreseeing HBAR’s
substantial ascent in the near future. According to the host of
Classy Crypto, HBAR is not just positioned to rise but is also
primed to become one of the biggest beneficiaries in the
anticipated bull run. Related Reading: HBAR Token Scores Impressive
Gains As Major Cryptos Nosedive The host noted that one factor
driving this optimism is the forthcoming Bitcoin and Ethereum
Exchange Trust Funds (ETFs). As these ETFs come into play, they are
expected to usher a wave of institutional investors into the crypto
sphere. However, the influencer argues that the initial attraction
toward giants like Bitcoin and Ethereum would eventually pivot.
Investors, after their primary foray, would likely explore
alternative digital assets. These alternatives, which the host
referred to as “pseudo-centralized currencies” offering distinct
use cases, especially those with tracking capabilities, would then
become the focal point. Hedera, with its tracking features,
according to the host, could potentially emerge as a leading
contender in this narrative. Hedera Offerings And Market Dynamics
Diving deeper into Hedera’s offerings, the Classy Crypto host
highlighted the consensus service of the platform. The host
emphasized that this plays a significant role in tracking and
catering to rising global demand. Additionally, in the backdrop of
an evolving global political scenario, solutions like Hedera’s are
anticipated to gain traction, given their ability to address
large-scale issues. The host noted: Hedera has a consensus that
does a lot of tracking and it’s great for the environment which is
an increasingly large issue in our world political scene.
Furthermore, beyond these specifics, the influencer also shared a
broader market perspective. He envisions a major market breakout
before the culmination of 2023. This momentum is likely to carry
forward into 2024, heralding a significant bull run. One pivotal
point he made pertained to the Layer 2 blockchains prevalent in the
market. A realization among investors that many of these platforms
might not support sustainable transaction sizes could direct focus
towards Hedera. Related Reading: Hedera (HBAR) Token Shines With
10% Weekly Gains When Market Suffers Downtrend Particularly, its
attributes, including fixed gas fees and the avant-garde Hashgraph
technology, might just provide the edge it needs, according to the
host. Over the past 24 hours, HBAR has traded in the red, down by
nearly 5%. The asset currently trades at a price of $0.058, at the
time of writing. Featured image from iStock, Chart from TradingView
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