- Hedera Hashgraph’s HBAR token has staged a strong comeback.
- The rally is because of the strong rebound of other cryptocurrencies.
- SaucerSwap V2 total value locked (TVL) has jumped to over $10 million.
Hedera Hashgraph (HBAR) price continued its recovery on Monday as investors cheered the growth of Saucer Swap. The token surged to a high of $0.068, the highest level since August 15th. It has jumped by more than 45% from the lowest level in October this year.
SaucerSwap V2 volume rising
Hedera Hashgraph is one of the leading layer 1 networks that aim to disrupt the blockchain industry. It offers a platform that has lightning speeds and low transactions. In addition, it is governed by some of the leading companies in the technology industry like ServiceNow, Google, Dell, IBM, Dell, and Chainlink Labs.
Hedera Hashgraph has been growing recently. A few months ago, the developers launched Stablecoin Studio, a complete suite of all developers who want to build stablecoin applications. It is an SDK that has all features that these developers need, including KYC/AML account flags and integrated service provider hooks.
The main reason why Hedera Hashgraph’s HBAR price has risen recently is that the crypto industry is doing well. Bitcoin has already risen to over $37,000 while the total market cap of all digital currencies has soared to over $1.4 trillion. Most cryptocurrencies, including fellow layer 1 networks like Avalanche, Solana, Tron, and Polkadot have all jumped.
At the same time, this performance has led to more inflows in DeFi applications. In Hedera Hashgraph’s case, SaucerSwap, a top DEX in its ecosystem has seen more demand recently. Data by CoinMarketCap shows that SaucerSwap V1 handled over $405k in the past 24 hours.
SaucerSwap V2 has also seen more volume in the ecosystem a few days after launch. The platform saw its total liquidity jump to over $10 million a few hours after going public. The second version has lower transaction fees and slippage than the first version.
HBAR price forecast
The daily chart shows that the Hedera Hashgraph crypto price has staged a strong recovery in the past few weeks. It has remained above the ascending trendline that connects the lowest levels since December 2022. It has also moved above the 50-day and 25-day moving averages, which is a bullish sign.
Hedera Hashgraph price is also nearing the middle line of the Andrews Pitchfork tool. Therefore, more upside will be confirmed if the price moves above this neutral point. If this happens, the next point to watch will be at $0.076, the highest point in August. This price is about 17% above the current level.
