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.
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
The technical analysis indicates a gradual and stable movement in the price of the HBAR token. Seasoned traders have developed a strategy of patiently awaiting the asset’s performance. Based on the technical analysis, the initial resistance level for HBAR is at $0.095, followed by subsequent resistances at $0.165 and $0.269. The major resistance level to watch out for is $0.322. On the other hand, the immediate support level for HBAR coins is $0.04.
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Hedera (HBAR) Price Prediction 2023
For 2023, the sentiment surrounding HBAR is currently positive, and we anticipate the minimum price to be approximately $0.050. Moreover, the average trading price for Hedera Hashgraph is projected to be around $0.17. By the end of 2023, HBAR could reach a maximum price of $0.28.
Hedera (HBAR) Price Prediction 2024
Our HBAR price prediction for 2024 is that the minimum price for Hedera will be $0.21. There is potential for the HBAR price to reach a maximum level of $0.43. On average, the trading price of Hedera could hover around $0.32. These projections suggest a bullish trend for Hedera prices in 2024, with the potential for a significant change of approximately 100%.
Hedera (HBAR) Price Prediction 2025
Hedera Hashgraph can reach a minimum price of roughly $0.37, while the maximum value is projected to be $0.59. Additionally, the average price for the entire year is around $0.48. These projections suggest that the price of HBAR tokens may experience fluctuations of approximately 60% throughout the year.
Hedera (HBAR) Price Prediction 2026
According to our HBAR coin price prediction, Hedera is expected to see a range of prices in 2026, with a minimum price of $0.52 and a maximum price of $0.74. On average, the price is projected to trade around $0.63. The strong presence of robust smart contracts backing HBAR will likely attract more users to the platform.
Hedera (HBAR) Price Prediction 2027
According to our Hedera price prediction for 2027, the Hedera token is anticipated to reach a maximum price of approximately $0.91, while the minimum price is $0.52. The average trading price for the year is expected to be around $0.80. These projections suggest potential price fluctuations within the given range throughout 2027.
Hedera (HBAR) Price Prediction 2028
Based on our HBAR price prediction, the projected minimum, average, and maximum prices for 2028 are approximately $0.87, $0.98, and $1.09. The expected price change for the year is forecasted to be 25%. Our investment advice suggests that traders have the potential to earn significant profits by purchasing Hedera at the current price level.
Hedera (HBAR) Price Prediction 2029
In 2029, the price of Hedera could reach a maximum level of $1.25. The average price for HBAR by the end of 2029 is anticipated to be around $1.14. In a bearish market, the minimum price of Hedera could trade at approximately $1.03. These predictions provide insights into the potential price range for Hedera in 2029.
Hedera (HBAR) Price Prediction 2030
Based on the HBAR price prediction 2030, the Hedera price is projected to reach an average of $1.30 by the end of the year. Our Hedera forecast indicates that the HBAR price may reach as high as $1.41 in December. According to our prediction, the estimated gain for Hedera in 2030 is around 18%.
Furthermore, a bullish rally is expected in 2030, with the potential for various crypto projects to make significant strides and create new historical milestones.
HBAR Price Predictions: Experts’ Opinions
Here, we have compiled some of the latest and notable HBAR price forecasts for the next five years to provide you with an understanding of the coin’s potential future performance.
According to Changelly’s HBAR price prediction 2030, 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 presented a relatively pessimistic short-term hedera price prediction for 2023. The website stated that HBAR might experience a slump to $0.059458 on April 4 before recovering to $0.063147 on April 29. Their technical analysis appeared neutral, with 16 indicators signalling a bullish trend and 10 indicating a bearish trend.
CryptoPredictions.com offered an HBAR price prediction, suggesting 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 projected that HBAR could reach a maximum price of $0.16 by 2023. Looking ahead to 2031, the coin’s maximum price was predicted to be $1.03, with an average forecast price also at $1.03. Their prediction estimated 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?
Yes. 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. With positive projections from various price prediction models, HBAR appears to have a promising future.
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. Among these, CoinSpot is highly recommended due to its favourable attributes such as low fees, user-friendly interface, excellent customer support, and robust security measures.
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. CoinSpot employs cold storage for the majority of tokens, further enhancing security. By enabling two-factor authentication (2FA), you can add an extra layer of protection to your tokens. Alternatively, you have the option to store HBAR on your own hardware wallet such as Ledger and Trezor.