According to the developers of hedera (HBAR), they consider gossip beneficial. The hedera system utilises a hashgraph, where nodes exchange information through a gossip protocol. This approach aims to enhance the efficiency of blockchain operations. With a lot of potential, will Hedera (HBAR) reach $10? This article delves into HBAR’s historical performance and gives HBAR price predictions for 2023-2030.
What is Hedera (HBAR)?
Hedera Hashgraph aims to establish itself as a cryptocurrency network that provides a platform for anyone to transact and deploy applications, with oversight from a group of businesses. Hedera has made distinct design choices that set it apart from other platforms in pursuit of this objective.
For instance, while ensuring high transaction speeds for its HBAR cryptocurrency, only approved nodes can participate in determining transaction history. By limiting the number of nodes involved in crucial functions such as timestamping and transaction ordering, Hedera Hashgraph achieves rapid finality, minimising the chances of subsequent alterations to transaction states.
Unlike proof-of-work blockchains like Bitcoin, Hedera relies on a unique communication protocol. The Hedera distributed ledger operates on a collection of nodes managed by major companies such as Google and IBM, utilising a “gossip protocol” algorithm to facilitate fast and cost-effective transactions.
According to Hedera, the network can process over 10,000 transactions per second, with settlement and confirmation times ranging from three to five seconds. The average cost of a transaction on Hedera is a mere $0.0001, consuming a fraction of the energy consumed by well-known blockchains.
HBAR is the native cryptocurrency on the Hedera Hashgraph network. There is a capped supply of 50 billion HBAR, with 8.26 billion in circulation. The remaining HBAR tokens have been pre-mined and are held by current stakeholders who contribute to the network’s security and governance. Some portions of the tokens are also reserved in the Hedera treasury for future staking rewards.
Like Ether, HBAR is used as payment for processing transactions, requiring developers and users to possess sufficient HBAR to facilitate transactions when using DApps on Hedera. However, users need not be overly concerned about transaction fees, as the cost for most common forms of data processing is less than a US cent.
Recent Updates
Hedera now hosts Smart Contract Verification
Hedera and Soucrcify are now hosting Smart Contract Verification, with a few changes consisting of UI/UX modifications, removing support for other chains, and expanding support for testnet or previewnet resets. Hedera is now an available option on Sorcify.dev.
The advancement comes days after Hedera announced processing thousands of transactions per second. Hedera Mainnet, till November 2, processed 2,443 transactions per second. Smart Contract Verification is now live on Hedera and has become a must-have offering for DeFi products.
Progress on the Real-World Assets (RWAs)
Hedera recently claimed collaboration with a platform called Archax in tokenising Airbnb’s money market fund. Archax is a billion-worth firm, therefore this represents one the biggest opportunities for Hedera blockchain. This also offers Hedera a unique position to broaden its portfolio towards more organic utility.
Hedera has been aggressively pushing towards tokenisation. Its strategy could lead to more value flowing into its native cryptocurrency HBAR, particularly in the long run.
#Tokenization of Real World Assets (#RWAs) is fast becoming a key use case of #web3 as enterprises, institutions, and individuals realize the transformative potential of #blockchain in bringing increased liquidity, opportunity, and efficiency to traditional finance.#Hedera… pic.twitter.com/hYjFBXZIWn
— Hedera (@hedera) October 26, 2023
Other key developments
- In January 2023, Hedera introduced the NFT utilities SDK for JavaScript.
- In February 2023, to empower developers with tooling and enterprise-grade infrastructure, Hedera launched Arkhia.
- In May 2023, COFRA Holding joined the Hedera Governing Council to accelerate DLT adoption and further its leadership in sustainability.
- In August 2023, HIP-729 expanded CREATE logic support on Hedera, and Ethereum Virtual Machine (EVM) tooling went live on the Hedera Mainnet.
- In September 2023, Stablecoin Studio, an open-source SDK, became available on the Hedera network, enabling any organisation to easily build stablecoin applications.
Hedera (HBAR) Price History
From its launch until the beginning of 2021, the price of HBAR fluctuated between $0.01 and $0.08. However, things started to change as the year progressed.
HBAR commenced the year at $0.03181 and experienced a significant rally, reaching a peak of $0.4495 on 15 March, coinciding with a general boom in the cryptocurrency markets. Subsequently, the price began to decline in April, coinciding with a market crash, hitting a low of $0.1559 on 21 July 2021.
As the market recovered in August, fueled partially by growing interest in NFTs, HBAR regained value and reached the $0.30 level in early September. Anticipation of HBAR being listed on the Coinbase (COIN) exchange caused the price to spike to a high of $0.07393 on 12 September. However, the subsequent delay in the HBAR launch by Coinbase led to a price drop, with HBAR valued at $0.05597 on 3 October. When Coinbase listed HBAR on 13 October, the coin traded at $0.06677.
HBAR remained around the $0.06 range throughout this period until the FTX (FTT) exchange collapse triggered a market crash. HBAR closed the year at $0.03643, reflecting an annual loss of over 87%.
The new year brought some recovery for HBAR and the crypto market. On 12 February, HBAR traded at $0.09839, its highest price since May. However, it faced a drop to $0.05458 due to the collapse of Silvergate Bank. Despite this setback, a relatively positive market environment led to HBAR trading around $0.0646 on 30 March 2023.
At that time, approximately 30 billion HBAR were in circulation out of a total supply of 50 billion. This gave HBAR a market capitalisation of around $1.9 billion, positioning it as the 33rd largest cryptocurrency based on this metric.
HBAR Price Predictions 2023-2030
| YEAR | MINIMUM PRICE | MAXIMUM PRICE |
| 2023 | $0.042 | $0.103 |
| 2024 | $0.090 | $0.129 |
| 2025 | $0.113 | $0.162 |
| 2026 | $0.147 | $0.211 |
| 2027 | $0.190 | $0.274 |
| 2028 | $0.244 | $0.351 |
| 2029 | $0.318 | $0.457 |
| 2030 | $0.411 | $0.592 |
Hedera Price Prediction 2023
The current sentiment is positive, and the minimum price is anticipated to be around $0.042. At the same time, the average trading price of Hedera Hashgraph is anticipated to be $0.073. HBAR might reach the maximum price level of $0.103 by the end of 2023.
HBAR Crypto Price Prediction 2024
The minimum price of Hedera will be $0.090. The maximum level that the HBAR price can reach is $0.129. The average trading price is expected to be around $0.109, based on our HBAR crypto prediction. The Hedera prices are expected to be bullish in 2024 and may change at around 50%.
HBAR Price Prediction 2025
Hedera Hashgraph is predicted to have a minimum price of around $0.113, with a maximum value of $0.162 for the year 2025. At the same time, the average price is anticipated to be $0.138 for the entire year. The price changes for HBAR tokens may be around 60%.
Hedera Hashgraph Price Prediction 2026
Hedera is forecasted to have minimum and maximum prices of $0.147 and $0.211 for 2026. In comparison, the average price may trade around $0.179. Since HBAR is backed by robust smart contracts, it will attract more users.
HBAR Coin Price Prediction 2027
The year 2027 expects the Hedera token to have a maximum price of around $0.274, while the minimum price may be $0.190, according to our Hedera price prediction for 2027. At the same time, the average trading price is expected to be around $0.232.
HBAR Crypto Prediction 2028
The minimum, average, and maximum prices for 2028 are predicted to be around $0.244, $0.297, and $0.351. The price change for the year is forecasted to be 49%. According to our investment advice, traders will earn significant profits if they buy Hedera at the current price level.
Hedera Coin Price Prediction 2029
By 2029, Hedera’s price can reach a maximum level of $0.457. It is anticipated that the HBAR coin can end in 2029 with an average price of $0.387. And if the market gets bearish, the minimum price of Hedera may trade around $0.318.
HBAR Price Prediction 2030
The price of the token is estimated to hit an average of $0.502 by 2030. Our HBAR forecast predicts that the price might reach the higher side of $0.592 by December. A bull rally is expected in 2030, and many crypto projects can create a new history.
HBAR Price Predictions: Experts’ Opinions
According to Changelly, the average trading price for the year is expected to be just under $1.39, indicating a more than 2x increase from Hedera Hashgraph’s all-time high.
CoinCodex presents a relatively pessimistic short-term hedera price prediction for 2023. It states that HBAR might experience a slump to $0.059458 on April 4 before recovering to $0.063147 on April 29. Their technical analysis appears neutral, with 16 indicators signalling a bullish trend and 10 indicating a bearish trend.
CryptoPredictions.com suggests that the coin could close this year at $0.0799293 and reach $0.0690162 by the end of 2024. For 2025, they predicted a starting price of $0.068, with a possible closing price of $0.06788. By December 2027, they anticipated that Hedera could reach $0.1083.
Digital Coin Price projects that HBAR could reach a maximum price of $0.16 by 2023. Looking ahead to 2031, the coin’s maximum price is predicted to be $1.03, with an average forecast price also at $1.03. Their prediction estimates the lowest price for the coin during that time to be $0.98.
Telegaon’s prediction for 2025 foresaw an average price of $0.59 for HBAR, setting a new all-time high. However, this forecast relies heavily on favourable market conditions, as achieving such a price level in a bear market would be challenging. The coin might face a tough period in the upcoming year, potentially falling to $0.0486 by late March 2024.
FAQs About Hedera (HBAR)
What is Hedera Hashgraph used for?
Hedera Hashgraph supports the development of simple tokens, following the widely used ERC20 standard, and more complex non-fungible tokens (NFTs). Developers can leverage the platform to build decentralised applications (dApps) and use smart contracts to create digital contracts with predefined conditions. Hedera Hashgraph’s high scalability ensures efficient and cost-effective transactions, making it user-friendly and suitable for dApp usage.
Is Hedera a good investment?
HBAR has positioned itself as a strong investment choice thanks to its roadmap, strategic partnerships, global business applications, and dedicated online community. As a well-established top-50 coin, HBAR has demonstrated its potential for long-term viability. The Hedera ecosystem continues to expand, attracting new users and forging valuable brand partnerships. Still, investors are advised to thoroughly conduct their own research before depositing in any investment due to personalised criteria.
Will HBAR Reach $10?
HBAR has strong potential for long-term success and a promising future ahead. While reaching $10 would require a substantial increase of approximately 190 times the current price, it is theoretically possible. But practical challenges and significant progress in Hedera use cases are necessary to justify such levels. Based on current trends, achieving the $10 mark shortly would be challenging. Nevertheless, this doesn’t discount the coin’s potential. Given the significant price growth of HBAR in recent years, reaching $10 is not out of the realm of possibility.
Where to buy Hedera (HBAR)?
To buy HBAR, you will need access to a cryptocurrency exchange that supports this emerging digital currency. Due to its increasing popularity, most crypto exchanges currently offer HBAR. Notable options for purchasing HBAR include CoinSpot, eToro, Crypto.com, Coinbase, and Binance.
What makes Hedera better than BTC or ETH?
In the realm of smart contract creation, Hedera Hashgraph distinguishes itself through its distinct consensus mechanism. Unlike other blockchains such as Bitcoin and Ethereum, Hedera Hashgraph can handle an impressive volume of over 10,000 transactions per second. This scalability advantage sets it apart and enables the network to process transactions at a significantly higher rate.
In which crypto wallet can you store HBAR tokens?
HBAR’s utilisation of the widely adopted ERC20 token standard enables convenient storage of HBAR in nearly any cryptocurrency wallet. When you buy HBAR from CoinSpot, the tokens are directly stored in your wallet, ensuring their safety. Alternatively, you have the option to store HBAR on your own hardware wallet such as Ledger and Trezor.
