What’s next for blockchain pioneers Hedera and The Graph?

Both have demonstrated substantial impact, with Hedera boosting smart contract functionalities and stirring interest with its proposed ETF

Cryptocurrency markets are known for their volatility, but some projects manage to stand out even in this turbulent landscape. Hedera (CRYPTO:HBAR) and The Graph (CRYPTO:GRT) have both made significant waves in the crypto world.

Now, a new player is emerging that aims to combine the best of both worlds—Web3Bay.

What Happened: Web3Bay is a decentralized e-commerce platform that aims to revolutionize the way people shop online.

The platform combines the transparency and immutability of blockchain technology with the user-friendliness and convenience of traditional e-commerce marketplaces.

At the center of the Web3Bay ecosystem is the 3BAY token, which serves multiple functions. It facilitates transactions on the platform, powers the community governance system and also functions as a reward token for users.

Early investors who participated in the Web3Bay presale have already witnessed impressive returns.

The 3BAY token price, which was initially offered at $0.003 during the presale, has surged to $0.1959 on March 13 at the Binance exchange. This marks a potential return of over 6430%.

Related Link: 5 Best Cryptocurrency Presales For March 2023

The Impact: Hedera has been making headlines recently with Canary Capital’s filing for the first-ever HBAR exchange-traded fund in the U.S.

This move is significant as it will provide institutional investors with a convenient and regulated way to gain exposure to HBAR, which is currently not available for direct purchase by U.S. institutions.

Another key development for Hedera is the integration of Ethereum Virtual Machine (EVM) support, which will broaden its appeal to a wider audience.

The lack of EVM support has been a limiting factor for Hedera in the past, especially considering the vast majority of decentralized applications and smart contracts are built on EVM-compatible blockchains.

Now, with the integration of EVM support, developers will be able to deploy smart contracts on Hedera more easily, opening up new possibilities for DeFi applications and cross-chain interoperability.

The market reacted swiftly to the HBAR ETF news, with a 270% increase in HBAR trading volume on March 13.

After the news broke, HBAR price initially surged to $0.11 on March 14, followed by a slight pullback. Despite the volatility, the institutional interest and potential for DeFi applications are likely to continue shaping HBAR’s market trajectory.

The Graph continues to bolster its position as a leading blockchain data indexing authority with the latest updates.

The protocol has expanded support for decentralized applications, making it easier for developers to access on-chain data and integrate it into their projects.

Among the recent upgrades are the addition of new subgraphs for decentralized exchange Balancer and NFT marketplace OpenSea, further enhancing The Graph’s indexing capabilities.

These developments are crucial for The Graph, especially considering its role in providing critical data infrastructure for DeFi and Web3 applications.

As more projects launch and gain traction, the demand for efficient and reliable data indexing is bound to increase. GRT price soared nearly 20% last week, cementing The Graph’s importance in the blockchain landscape.