Analyst Foresees Hedera (HBAR) Breaking Into The Crypto Top 10
Hedera (HBAR), a popular cryptocurrency, has recently been garnering attention from the crypto sphere. According to a crypto influencer, HBAR is set to join the ranks of the top 10 digital currencies.
Classy Crypto, a YouTube channel focused on the crypto industry, held a discussion that highlighted the influencer’s reasoning. He believes that HBAR will not only rise but will be one of the biggest beneficiaries of the upcoming bull market.
The influencer believes that the expected arrival of Bitcoin and Ethereum Exchange Traded Funds (ETFs) will attract institutional investors to the crypto space. After their initial foray, investors will likely explore other digital assets. He referred to these as “pseudo-centralized currencies”, which offer distinct use cases such as tracking capabilities. Hedera is believed to have the potential to stand out in this narrative due to its tracking features.
The Classy Crypto host further highlighted the consensus service of the Hedera platform. According to him, this plays a significant role in tracking and catering to the increasing global demand. Furthermore, given the platform’s ability to address large-scale issues, it is expected to gain traction in the current global political scenario.
The influencer also shared a broader market perspective, anticipating a major market breakout before the end of 2023. This momentum is likely to carry forward into 2024, resulting in an extended bull run. He believes that investors’ realization that many Layer 2 blockchains may not support sustainable transaction sizes could direct focus towards Hedera. The platform’s attributes, such as fixed gas fees and the Hashgraph technology, could give it the edge it needs.
At the time of writing, HBAR has declined by nearly 5% over the past 24 hours. The asset currently trades at a price of $0.058.
