Hedera Network Hits 2 Million User Accounts Milestone


HBAR Crypto News: The Hedera (HBAR) network, operating on distributed ledger technology, Hashgraph, has now achieved 2 million HBAR accounts on the Hedera mainnet, as declared by the team in a tweet on Wednesday. Despite the turbulence in the cryptocurrency sector, the DAG-based network has been making consistent progress.

Reaching 2 Million User Accounts

The company credits the surge in growth to features such as performance, security, governance, stability, decentralised applications (Dapps), and regulatory compliance. As part of their mission to provide transparency to their users, Hedera has requested third-party security auditors and assurance providers to conduct independent analyses of the engineering work done by the Hedera development team and its network services.

Read More: U.S. Congress Erupts In Heated Debate Over Stablecoin Regulation

Hedera previously achieved its first million user accounts before the end of 2020, and they are now expecting to hit 3 million in the near future. The platform has been actively launching and partnering with upcoming crypto projects to drive wider adoption with the help of NFTs, GameFi, and DeFi ecosystems through numerous grants and accelerator programs.

HBAR Price Analysis

The announcement of the milestone has been met with positivity both from the HBAR community and the crypto market as a whole. It is predicted that this could eventually result in a bullish scenario for the HBAR token as it sees more utility due to the rising number of user accounts.

At the time of writing, the HBAR token is trading at $0.063, which is a 0.35% increase over the past hour but a 6% decline over the last 24 hours. According to CoinGape’s price tracker, the technical analysis (TA) indicators of HBAR suggest a strong sell position, with the moving averages advising to “sell” at level 14 and “buy” at level 1.

Also Read: New York Regulator Slams SEC’s Claim Of Linking Crypto To Banking Collapse

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