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Hedera Hashgraph Fundamental Analysis
Hedera Hashgraph is a decentralized public network that uses a directed acyclic graph (DAG) to achieve distributed consensus. The native cryptocurrency of Hedera Hashgraph is called HBAR, and it is used for various purposes within the network, including transaction fees, network security, and more.
Hedera Hashgraph aims to provide a fast, secure, and fair platform for decentralized applications (DApps) and smart contracts. HBAR facilitates transactions and interactions on the network, and users can earn HBAR by participating in network activities such as staking.
Hedera Hashgraph was founded by Dr. Leemon Baird and Mance Harmon. The development of Hedera Hashgraph began in 2015, and the project was officially launched in March 2018.
Dr. Leemon Baird is the co-founder and Chief Scientist of Hedera Hashgraph. Dr. Baird has a computer science and mathematics background and is known for his work on hashgraph technology, which underlies the consensus mechanism used in Hedera. Mance Harmon is the second co-founder and CEO of Hedera Hashgraph. He has a background in computer science and has been involved in various technology ventures before co-founding Hedera.
Hedera Hashgraph uses a unique consensus algorithm called hashgraph, which is a directed acyclic graph (DAG) data structure. Unlike traditional blockchain systems, hashgraph do not require the extensive computational work associated with proof-of-work mechanisms. It achieves consensus through a gossip protocol and virtual voting.
The founders aimed to address some of the limitations of existing blockchain technologies, such as scalability, security, and performance. Hedera Hashgraph was designed to provide a decentralized and efficient platform for building decentralized applications (DApps) and conducting transactions.
Hedera Hashgraph is designed to offer fast transaction speeds and fairness in consensus through its hashgraph algorithm. This algorithm enables fast and efficient consensus without the need for energy-intensive proof-of-work mechanisms. Hedera Hashgraph aims to provide fast and low-latency transaction processing. The hashgraph consensus allows for high throughput, making it suitable for applications requiring quick and efficient transaction confirmation.
The hashgraph consensus algorithm is designed to achieve asynchronous Byzantine fault tolerance, ensuring the security and fairness of the consensus process. This makes the network resistant to certain types of attacks.
Hedera Hashgraph employs a unique governance model with a council composed of leading organizations from different industries. This council helps make decisions and guide the development of the platform.
Hedera Hashgraph incorporates several core features designed to address various aspects of decentralized networks. The network supports the development of smart contracts and decentralized applications. Developers can use the platform to create and deploy applications that leverage the benefits of the hashgraph consensus and the Hedera network.
Hedera serves as a platform for both businesses and users, facilitating the creation of diverse applications on decentralized networks. To support this development, the Hedera platform incorporates the following:
<strong style="color: rgb(0, 0, 0);">Smart Contract 2.0: This version of smart contracts is compatible with the Ethereum Virtual Machine (EVM), offering users faster alternatives compared to traditional blockchains. EVM is a software platform within the Ethereum network that aids in the development of decentralized applications (DApps). Additionally, Smart Contract 2.0 ensures a predictable gas fee and provides a carbon-negative solution for app development. Essentially, Hedera can process 15 million gas per second using Smart Contract 2.0, equivalent to Ethereum's goal for an entire block.
Third-Generation Public Ledger: The public ledger system operates on a proof-of-stake (PoS) mechanism, driven by the gossip protocol and hashgraph technology. The gossip protocol establishes a communication framework in a peer-to-peer network, ensuring information is shared comprehensively among all participants within the network.
Hedera Mirror Network, also known as Hedera Mirror Nodes, is a component within the broader Hedera network. It exists to provide transparency and accessibility by offering a historical record of transactions and events on the Hedera Hashgraph distributed ledger.
The Hedera Mirror Network serves as a repository of historical transaction data. It maintains a record of all transactions that have occurred on the Hedera Hashgraph network, including details such as timestamps, transaction IDs, and consensus orders.
Users, developers, and third-party applications can leverage the Mirror Network to access historical data about transactions on the Hedera network. This accessibility is valuable for auditing, analytics, and various use cases that require insight into the historical behavior of the network.
The Mirror Network is designed to be decentralized, reflecting the distributed and decentralized philosophy of blockchain and distributed ledger technologies. Multiple mirror nodes are operated by different entities, contributing to the resilience and reliability of the historical record.
DApp developers may utilize the Mirror Network to access transaction history for their applications. This feature can enhance the functionality of decentralized applications by providing a reliable and transparent historical record.
The existence of the Mirror Network aligns with Hedera Hashgraph's commitment to openness and transparency. By allowing users to independently verify historical transactions, the network fosters trust and accountability within its ecosystem.
HBAR, as the energy-efficient native coin of the Hedera network, plays dual roles within the system:
- Network Fuel: HBAR coins are utilized for various services on the network, including payments for logging data, managing NFTs and other tokens, as well as facilitating coin transfers within the network. Collected fees serve as compensation for network nodes engaged in storage, computation, and bandwidth activities.
- Network Protection: HBAR coins are employed for staking on network nodes, influencing transaction votes, and safeguarding the consensus mechanism against potential malicious actors. This staking process acts as a protective measure, requiring bad actors to stake or own a significant portion—one-third—of the total coin supply to manipulate the network's consensus mechanism, thereby fortifying the network against cyber attacks.
The HBAR token has a total supply of 50,000,000,000 HBAR, and as of December 1, 2023, the circulating supply is 33,563,623,256 HBAR.
The fees on the Hedera Hashgraph network can vary depending on the specific transaction or operation being performed. The fees are typically denominated in HBAR, the native cryptocurrency of the Hedera network.
The fee is determined by factors such as the network's current usage and the size of the transaction in terms of bytes. Smaller transactions may have lower fees compared to larger transactions.
Creating and managing tokens, including non-fungible tokens (NFTs), on the Hedera network also involves specific fees. These fees contribute to the overall maintenance and security of the network.
Hedera regularly releases reports that outline the schedule for unlocking the next batch of HBAR tokens. As per Hedera's official documentation, the founders of the project each possess a coin grant totaling two billion HBARs, constituting 4% of the overall supply per founder. These tokens follow a vesting schedule spanning six years.
Similarly, senior executives at Hedera, those who joined the organization before 2018, are granted coin amounts ranging from 250 million to 300 million. The vesting period for these tokens concludes in December 2021.
Following Hedera's Economics Whitepaper, published in June 2020, it is projected that approximately 17.03 billion HBAR tokens will be in circulation by 2025. This amount represents roughly 34% of the total HBAR supply.
Hedera recently announced the launch of Stablecoin Studio, an open-source toolkit available on the public Hedera network. Developed by Hedera, Swirlds Labs, The HBAR Foundation, and ioBuilders, Stablecoin Studio facilitates the easy creation and management of stablecoins on the Hedera network. The toolkit includes features such as oracle-based proof-of-reserves, integration with commercial custody providers, and configurable KYC/AML compliance functionality.
In another notable development, Électricité de France (EDF), a major global electricity producer and active member of the Hedera Council, completed a proof-of-concept (POC) in collaboration with REDEX and Rekursive Labs. The project aims to revolutionize the management of renewable energy certificates (RECs) using Hedera's distributed ledger technology. This automated solution allows end consumers to retire small quantities of RECs in real time, fostering a more efficient and transparent renewable energy market. EDF, REDEX, and Rekursive Labs plan to refine the solution, explore new use cases, and offer automated REC services globally.
Hedera Hashgraph Live Price Chart
Since the beginning of the year 2023, the HBAR token has followed a downward trajectory. By the beginning of summer to swap HBAR traders paid around $0.052 and the value of the Hedera network native token kept moving downwards. By June 1 the price chart dropped to $0.040, and then the trend flipped for a while with the price of HBAR going up. in 2 weeks the HBAR price chart reached the level of $0.052, remained around this price just for a couple of days, and then went declining again.
On July 8 to swap HBAR traders already paid $.047, but again the HBAR price chart went up from this point, growing till July 22, when its price reached $0.0555. After that the Hedera native token couldn’t maintain this level of price again and declined at a slow pace, reaching $0.052 by July 25 and staying around this level for a week.
From August 7 the HBAR price chart experienced a new uptrend, with the price growing at a faster pace than before and reaching $0.059 by August 9, going for a short market correction at $0.056, and then reaching the highest point of the period on August 15. At that time to swap HBAr traders paid $0.0675.
The period of the price gain was followed by the market correction and in the next 3 weeks the HBAR price chart went downwards, dropping to $0.046 by September 13. The price chart recovered a little bit in the following 3 days, reaching the level of $0.052, and starting a new downtrend from this point. During the next month, the value of the HBAR token kept going down and by October 14 it reached $0.046, which was the minimum of the period.
From this point the HBAR price chart started growing again, reaching $0.066 by November 21. At this point, the growth stopped and the value of HBAR sustained at this level without a lot of movement of the price chart. By December 1 to buy HBRA traders paid $0.601.
The HBAR price chart is not going to show much gains this year, according to the current state of the token and the market indicators. Most probably the cryptocurrency will try to sustain the current price level or even show a little bit of loss shortly, but with a definite possibility to recover them no later than at the beginning of 2024.
Hedera Hashgraph Technical Analysis
The current trade setup indicates a bullish trend reversal for the HBAR token, as the price has successfully breached the 200-day moving average and the key level at $0.06, confirming an uptrend. The ongoing retest of this breakout level presents an opportunity for a potential uptick to $0.070 if the price maintains its position above. Notably, Fibonacci Retracement Levels at $0.06 (38.20% retracement) and $0.05 (61.80%) coincide with horizontal support zones, making them favorable areas for potential swing trade entries during the uptrend—traders are advised to set price alerts for strategic entry points. The overall trend remains upward across short, medium, and long-term horizons. While momentum appears mixed with the MACD Line below the Signal Line (Bearish), the RSI above 55 suggests a bullish outlook. Key support zones include $0.060 (previous resistance) and $0.054, while the nearest resistance zone stands at $0.070.
Despite the fact that 100% accurate technical analysis for Hedera Hashgraph cryptocurrency is hardly possible, on this advanced technical analysis tool by TradingView you can see the real-time aggregated HBAR buy-and-sell rating for selected timeframe. The summary for HBAR/USD is based on the most popular technical indicators — Moving Averages, Oscillators and Pivots.
Hedera Hashgraph Price Prediction
Hedera Hashgraph Price Prediction for 2023
Hedera Hashgraph Price Prediction for 2024
Hedera Hashgraph Price Prediction for 2025
Hedera Hashgraph Price Prediction for 2026
Hedera Hashgraph Price Prediction for 2030
As it can be clear from the analysis cited above, Hedera Hashgraph (HBAR) projections are rather contradictory. There is no universal consensus either about positive or negative future HBAR price movements. Indeed, the future possible growth depends on various factors: announcements, new technological solutions of the Hedera Hashgraph projects, the crypto environment in general, legal position, and so on. We kindly remind you that before investing in any cryptocurrency, it is essential to do your own research (DYOR).
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