HBAR Price Surges 30% After New SWIFT Partnership

Hedera (HBAR) has recently been receiving a great deal of attention in the crypto market as the price has made a 30% increase within the last 48 hours.

Hedera (HBAR) has recently been receiving a great deal of attention in the crypto market as the price has seen a 30% increase within the last 48 hours.

This increase has pushed the token to be the 11th largest crypto based upon its current market cap and has put it ahead of other well-known cryptocurrencies like Chainlink, Stellar, and Litecoin. Experts are now predicting that it might hit $1 soon if the momentum continues.

One of the main reasons for the price surge is its new partnership with SWIFT, a global payment network that banks use for international money transfers.

SWIFT will soon start using Hedera’s blockchain for its payments across places like North America, Europe, and Asia.

This is a big deal because it means more businesses and banks might start using Hedera’s blockchain to send money. When more people and businesses use it, the demand for Hedera goes up, which could push its price even higher.

This is a huge deal for Hedera because businesses and banks will begin utilizing the blockchain to facilitate money transfers in the coming months. This will create more demand for the cryptocurrency, which may contribute to a further surge in price.

Moreover, the price has recently broken above a five-week downtrend on its daily chart. This means the bulls are now in control.

As of today, HBAR has seen a 14% increase in value and is currently being traded at $0.2338. The trading volume is also showing great activity with 64% recorded to 793 million and a 14% increase in market cap to $9.79 billion

The technical analysis shows that the RSI indicator line is above the 50% average and currently stands at 70%, which implies that there is still potential for further price increases.

Also Read: Coinbase Files to List Solana & Hedera Futures ETF