Hedera (HBAR) Rockets as FedNow Integration Boosts Price

Hedera (HBAR) stole the spotlight on Monday morning as its price surged past the $0.075 mark, firmly establishing itself as a leader among the top 100 coins by market cap.

This surge in value was accompanied by an astonishing 1,290% surge in its 24-hour trading volume, reflecting a significant increase in buying pressure.

The HBAR token’s market dynamics have been driven by recent partnerships and adoption efforts, propelling it to a prominent position within the cryptocurrency landscape.

CoinMarketCap’s data spotlighted Hedera’s meteoric rise, showcasing its ascent above the $0.075 threshold during the early hours of Monday morning (ET hours).

The surge in price was complemented by a staggering 1,290% surge in its 24-hour trading volume, with trading activity amounting to over $224 million worth of HBAR tokens exchanged.

This surge in trading activity underscores the heightened interest and demand for Hedera’s native cryptocurrency.

Hedera’s robust performance continued to unfold, with its price marking an impressive 17% daily gain at the time of writing.

Furthermore, the cryptocurrency’s value had risen by an impressive 25% over the past 30 days. This sustained upward momentum signals the growing appeal and recognition that Hedera is gaining within the broader cryptocurrency community.

The recent surge in HBAR’s price can be attributed to strategic partnerships and adoption initiatives that have elevated its standing in the market. Notable collaborations with influential mainstream players have played a pivotal role.

Partnerships with South Korean multinational giants Hyundai and Kia, introducing an AI-enabled solution for supply chain carbon emission tracking, have contributed to HBAR’s ascent.

Additionally, the recent alliance with global payments giant Mastercard has further bolstered Hedera’s position.

The surge in HBAR’s value also coincides with new buying pressure generated by the Federal Reserve’s support for Dropp Inc., a Hedera-powered platform.

This notable development led to Dropp Inc’s inclusion in the list of service providers for the FedNow program.

FedNow, designed to provide banks and credit unions with instant payment capabilities, has indirectly contributed to renewed interest in and demand for HBAR.