- HBAR surged nearly 9% in the early hours of today.
- The Hedera in-app payment instrument broke above significant resistance at $0.051.
- HBAR’s rally followed a listing announcement by Bithumb, a Korea-based crypto exchange.
HBAR, the native cryptocurrency of the Hedera network, surged nearly 9% in the early hours of today. The in-app payment instrument broke above significant resistance at $0.051 while reacting to the news of being launched on Bithumb, a Korea-based cryptocurrency exchange.
In a recently uploaded video, the host of Classy Crypto, a crypto YouTube channel, observed that the recent HBAR rally coincided with the recent announcement. Although he did not interpret the details, such as the actual listing time, the crypto influencer noted that the plan to list on Bithumb was enough to initiate the price rally.
According to the Classy Crypto channel host, the XRP token generates the bulk of the volume traded on Bithumb. However, what interests him is that many crypto users frequently compare XRP with HBAR.
The Classy Crypto channel’s host noted some of the unique features of HBAR that may be behind the increasing awareness and potential adoption of the Hedera protocol’s native coin. According to him, HBAR has a newly launched feature that allows users to create stablecoins. He also noted that being a hashgraph offers HBAR an advantage that enables the implementation of fixed fees.
The renowned crypto influencer thinks HBAR is claiming a significant stake in the stablecoins ecosystem. He believes the crypto token offers a competitive and cost-effective stablecoins creation model. The Classy Crypto host noted that the stablecoin token configuration and creation on HBAR costs between $1.45 and $2.69. Hence, the growing adoption of the novel protocol by crypto users.
HBAR surged 18.7% in less than 72 hours after bouncing off a local low at $0.0454. It rallied to $0.0537 before making a pullback. The Hedera protocol’s token traded for $0.0519 at the time of writing, with the price showing signs of a potential rally to higher price levels.