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Cryptocurrency News Articles

Why 2025 Could Be a Breakthrough Year for Hedera: HBAR Price Analysis Signals a Potential Rally

Dec 21, 2024 at 04:38 pm

Developments in the Hedera ecosystem have ignited discussions on social media, with X user @markchadwickx highlighting multiple organizational changes and partnerships.

Why 2025 Could Be a Breakthrough Year for Hedera: HBAR Price Analysis Signals a Potential Rally

Key Takeaways:

Several organizational changes and partnerships are being highlighted by X user @markchadwickx on social media, as Hedera positions itself for potential expansion in 2025.

The HBAR Foundation is appointing Charles Adkins as CEO of the newly named Hedera Foundation, effective January 1, 2025.

Valour Funds is introducing a Hedera HBAR Exchange Traded Product (ETP) on Euronext Amsterdam, enhancing European investor access to HBAR.

Bonzo Finance, a Hedera-based lending protocol, is gaining official support and maintaining over $22M in Total Value Locked.

Strategic collaborations are expanding Hedera's technical framework, with Chainlink Data Feeds and Proof of Reserve integration aiming to strengthen DeFi and RWA adoption on the network.

The partnership between EQTYLab, NVIDIA, and Intel is aiming to record AI computations on Hedera's network for enhanced governance and audit capabilities.

Technical analysis of HBAR's price movement shows a potential breakout from consolidation, with support at $0.25 and immediate resistance at $0.30, while social media speculation connects former President Trump to an interest in HBAR.

The recent developments in the Hedera (CRYPTO: HBAR) ecosystem have sparked discussions on social media, with X user @markchadwickx highlighting multiple organizational changes and partnerships. These developments emerge as the network positions itself for potential expansion in 2025.

Breaking Down the Updates:

As 2025 begins, the HBAR Foundation is set to appoint Charles Adkins as CEO of the renamed Hedera Foundation, effective January 1, 2025. This leadership transition comes as part of a broader effort to streamline the organization's structure and enhance its focus on key initiatives.

In another significant move, Valour Funds is introducing a Hedera HBAR Exchange Traded Product (ETP) on Euronext Amsterdam. This development marks a strategic initiative to provide European investors with greater access to HBAR, potentially expanding the token's market reach.

Among the network's growing ecosystem of decentralized applications (dApps), Bonzo Finance, a Hedera-based lending protocol, has secured official support from the platform. While maintaining a Total Value Locked (TVL) of over $22 million, Bonzo Finance continues to contribute to the DeFi landscape on Hedera.

Moreover, MemeJobFun is launching on the Hedera network, introducing new possibilities for DeFi interactions through memes and Web3. This integration further diversifies the range of applications being built on the platform.

On the technology front, Hedera's infrastructure is being bolstered by several Chainlink integrations. Chainlink Data Feeds and Proof of Reserve are being integrated to strengthen decentralized finance (DeFi) and Real World Asset (RWA) adoption on the network.

As the network expands, so does its Governing Council, which now comprises 32 members. This growth brings additional features, including capabilities for transparent AI data.

In another noteworthy development, EQTYLab, NVIDIA, and Intel are partnering to record AI computations on Hedera's network via the Verifiably Compute solution, enhancing governance and audit capabilities.

Furthermore, following Google's announcement of the "Willow" quantum processor, attention is being drawn to the network's quantum-secure blockchain features.

Analyzing HBAR's Price Movement:

A technical analysis of HBAR's price movement reveals distinct patterns throughout the year. Commencing with a rally in November, prices ascended from $0.04 to the $0.35-$0.40 range. December brought consolidation between $0.25-$0.30, suggesting a potential base-building phase.

The Bollinger Bands indicate reduced volatility, with prices hovering near the middle band. This pattern often precedes potential breakout movements. The RSI at 56 shows balanced momentum with room for upward movement, while the MACD configuration maintains a bullish structure despite slight bearish momentum in the histogram.

Support levels hold at $0.25, with immediate resistance at $0.30. A breakthrough above this resistance could target previous highs of $0.35-$0.40. Volume patterns align with typical consolidation phases, suggesting potential for renewed buying pressure.

As the year unfolds and these developments continue to shape the Hedera ecosystem, X user @oroogle is sharing unverified claims about former President Trump's supposed interest in HBAR and XRP, connecting it to a proposed “American Digital Commodity Act.” While these are just claims, they highlight growing market interest in Hedera's technology.

News source:captainaltcoin.com

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Other articles published on Dec 21, 2024