- Hedera Hashgraph’s HBAR token jumped on Tuesday.
- South Korea’s Shinhan Bank completed the iest stablecoin remittance using Hedera.
- It completed the real-time transaction with Taiwan’s SCB TechX.
Hedera Hashgraph price held quite well after several important ecosystem news. The HBAR token jumped to a high of $0.055 on Tuesday, the highest level since June 25th. In all, the coin has risen by over 17% from the lowest level this month.
Hedera Hashgrap news
Hedera Hashgraph is a leading challenger to Ethereum. It is a blockchain that has faster speeds and low transaction costs. Unlike Ethereum, transactions in its ecosystem completed within seconds while having a fraction of the cost.
In a statement, the developers said that Shinhan Bank, a leading company in South Korea, had successfully piloted the first stablecoin remittance on the Hedera network. The bank did that in collaboration with SCB TechX, a large financial institution in Taiwan.
As part of the transaction, the two parties achieved a real-time settlement and real-time forex rate integration. The currencies involved in the transaction were Thai Baht, New Taiwan Dollar (NTD), and South Korean won. In a statement, the Chief of Blockchain at Shinhan Bank said:
"The successful completion of this second PoC – proof-of-concept – marks an important step forward in our efforts to make cross-border payments faster, cheaper, and more accessible to people around the world."
The other important Hedera Hashgraph news was that the developers introduced new features on Monday. They integrated Metamask in the ecosystem and started supporting JSON-RPC enabled wallets. As a result, it will be possible to transfer $HBAR to and from 0x accounts.
Hedera price prediction
HBAR price has made a strong comeback in the past few days. On the four-hour chart, the coin is being supported by the 25-period and 50-period exponential moving averages. It also moved slightly above the key resistance level at $0.054, the highest level on July 14th. Also, the coin is hovering near the 23.6% Fibonacci Retracement level.
Therefore, Hedera price will likely have a bullish breakout as buyers target the next resistance level at $0.058, the highest level on June 25th. This view will be confirmed if the price moves above the key resistance level at $0.055, the highest point this week. A drop below the support at $0.052 will invalidate the bullish view.
