"Is this HBAR's chance to shine after being flat for so long?"
The Hedera (HBAR) cryptocurrency based on Hashgraph technology is seeing an encouraging performance even as the market continues to experience drastic declines since 2022.
The proof is that the number of HBAR transactions throughout 2022 is as much as 530 million compared to the previous year when there were only 769,000 transactions.
It was reported that the number of active users and new account openings decreased slightly after reaching an all-time high in the third quarter, but the number of HBAR transfers jumped 123% and the number of transactions reached 70% in the fourth quarter.
In addition to establishing Zoop, Clout.art and Numbers & RoadCode businesses, the launch of decentralized exchange companies and DeFi protocols such as Stader, HeliSwap and Bubbleswap has caused Total Value Locked (TVL)* HBAR to jump to almost $75 million in the fourth quarter of 2022.
*A measure of the total value of all assets locked into the DeFi protocol
The price movement of HBAR is found to have jumped by 75% in the last 30 days past the level of $0.0804 but has fallen back around 6% in the last seven days, where it is currently hovering around $0.0647 in the last 24 hours.
For the record, the price of HBAR can climb through $0.0853 and even reach $0.10 if the Federal Reserve (Fed) of the United States (US) acts to reduce the increase in interest rates.
In the meantime, HBAR is also expected to climb to the $1 price level when they announce the 28th administrative council members and include new important names in addition to giant companies such as Google, Boeing, LG, IBM and Nomura that are already in its team.
