HBAR Foundation Calls for Renaissance, Marking October 3, 2024 on the Calendar

A 28-second clip, titled ‘Renaissance,’ suggested the community mark their calendars for October 3, 2024. Originally posted by Axelar Network

The HBAR Foundation recently shared a tweet that has sparked excitement among HBAR holders. The 28-second clip, titled ‘Renaissance,’ suggests marking calendars for October 3, 2024. Originally posted by Axelar Network, the video clip hints at an upcoming decentralized application (dApp) on Hedera’s Hashgraph.

Axelar, a Web3 enterprise focused on interoperability, didn’t provide further details about the Renaissance on Hedera. However, HBAR holders have taken to social media to discuss the possible implications. This cross-chain move comes just three weeks after the resignation of HBAR Foundation’s CEO Shayne Higdon.

A renaissance awaits. October 3, 2024.

HBAR enthusiast Turbulent Insect posted a thread on Reddit claiming that some people in the ecosystem seem to know something they can’t share yet. In the thread, Redditors were speculating on the news to mark a significant use case, alluding to the Google Cloud partnership, which inspired a massive bull run for HBAR back in 2020.

Turbulent Insect wrote, “I do believe some selected people in the ecosystem seem to know something they can’t share yet. Maybe I’m just being hopeful.”

One Redditor commented, “This feels like something big. Maybe something to do with the Google partnership?”

Another Redditor replied, “I’m thinking something related to NFTs. Maybe something like Enjin where games can integrate HBAR.”

Later in the thread, Turbulent Insect added, “I’m thinking something related to NFTs. Maybe something like Enjin where games can integrate HBAR. Maybe something even bigger like a decentralized social media platform on Hedera.”

HBAR Hits Checkpoint At $0.055, What’s Next?

As Bitcoin soared past $63,500 last weekend, the leading digital asset’s 8% 7-day upswing has extended to HBAR. Usually sporting a high price correlation with BTC, Hedera Hashgraph rose by 12% in the same timeframe, conquering several resistance levels to trade at $0.05555 as of press time.

Crypto analysts believe this bullish breakout could continue to $0.059 – $0.063, given that Bitcoin does not see a severe market correction below $62.5K. Based on independent HBAR metrics, the extended breakout probability is bolstered by a positive Chaikin Money Flow (CMF) index since the start of the day, suggesting rising positive net flows.

Moreover, Bollinger Bands (BOLL) on 1-day and 1-hour charts indicate impending HBAR price fluctuations. If Hedera Hashgraph’s native crypto flips the script in the longer term, a weekly consolidation could assist in claiming a new three-month high for HBAR.

On the Flipside

Why This Matters

Building new applications on top of a scalable and reliable chain deepens liquidity and usually leads to eventual price appreciation on the network’s native crypto.

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