Hedera Joins UK Cryptoasset Council, Boosting HBAR Token Presence

Hedera, the organization behind the HBAR token, has joined the UK Cryptoasset Business Council (UKCBC), an alliance dedicated to fostering the UK's crypto ecosystem. This strategic move has garnered attention in the crypto community, with expectations that it could positively impact the HBAR token. While HBAR has yet to see immediate gains, its performance in the bull market, with a notable surge since last November, underscores its potential as the asset seeks to overcome current bearish forces.

Hedera Joins UK Cryptoasset Business Council, Signaling Advancement for HBAR Token

London, United Kingdom - In a strategic move poised to bolster its influence within the UK's rapidly evolving cryptoasset landscape, Hedera, the developer behind the HBAR token, has forged an alliance with the UK Cryptoasset Business Council (UKCBC).

The announcement, made official through a recent post on the Hedera website, signifies Hedera's entry into a prestigious organization dedicated to promoting the UK's cryptoasset ecosystem. This collaboration marks a significant milestone for Hedera, aligning it with a formidable roster of crypto-focused companies that have previously joined the council.

Among the UKCBC's notable members are Ripple, Coinbase, Uniswap, and Archax, each representing a cornerstone of the global crypto industry. Their collective mission focuses on nurturing the UK's crypto environment, providing a supportive framework for users, investors, and businesses. The council's agenda prioritizes stimulating innovation, safeguarding consumer interests, and fostering growth through well-considered policy frameworks.

Hedera's arrival within the UKCBC has garnered widespread attention within the crypto community, with industry observers expressing optimism about its potential impact on the HBAR token. Despite this news, HBAR's price has yet to demonstrate a tangible upward trajectory, mirroring the broader market downtrend influenced by Bitcoin's recent volatility. Over the past 24 hours, HBAR has experienced a 4.15% decline, extending its losses since last week to over 6.4%. Currently trading at $0.1079, the token remains 80% below its all-time high of $0.5701 established in 2021.

Notwithstanding its current market performance, HBAR has exhibited notable resilience amidst the prevailing market conditions. Since its low point of $0.06 in November 2021, HBAR has surged by an impressive 123%, reaching a yearly peak of $0.1339.

Hedera's fundamental strengths as a sustainable, enterprise-level public network serving the decentralized economy provide a firm foundation for its future growth. By addressing the limitations inherent in older blockchain-based platforms, such as slow performance and instability, Hedera offers an efficient and scalable solution.

As Hedera integrates into the UKCBC, it anticipates contributing to the council's mission of developing a robust and responsible cryptoasset ecosystem in the UK. This collaboration is expected to open new avenues for engagement with key stakeholders, including regulators, policymakers, and industry leaders.

The UK government's positive stance toward cryptoasset regulation has been a contributing factor to Hedera's decision to establish a presence in the UK. The UK's forward-thinking approach, coupled with Hedera's reputation as a reliable and innovative provider, creates a fertile ground for the company to flourish.

Hedera's affiliation with the UKCBC underscores its commitment to shaping the future of the cryptoasset industry. Through this strategic partnership, Hedera aims to leverage the UK's leading position in this emerging sector, contributing to the development of a vibrant and inclusive crypto ecosystem.