Hedera rallies 25% in a week as crypto market turns red; What’s next for HBAR?
Despite a general market decline for the majority of cryptocurrencies, Hedera (HBAR) is making strides with notable gains. Its performance sets it apart from the rest of the market and has garnered the attention of investors with a focus on whether it can hold the gains.
Indeed, HBAR, a scalable smart contract asset, was trading at $0.09 by press time, with daily gains of over 4%. The token also leads the crypto market in weekly gains at over 25%.
The rally has been powered by sustained capital inflow, with the token market cap standing at $2.25 billion on February 14. Over the last seven days, about $460 million has inflowed into the asset’s market capitalization.
Drivers of HBAR’s rally
Hedera Hashgraph price movement has seen the token be deemed an outperformer in the crypto market as assets such as Bitcoin (BTC) continue to post losses. The gains by HBAR come amid increased network growth and strategic partnerships.
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