- Hedera has officially crossed the 20 billion total mainnet transaction mark after hitting 10 billion in 6.5 years.
- The asset has fallen by 11 percent in the last seven days to trade at $0.049102 according to market data.
In 2019, Hedera Hashgraph (HBAR), an electronic public ledger developed for corporate use launched its mainnet. Last year, it announced the mainnet launch of the EVM-Compatible Smart Contracts 2.0. According to the latest update, Hedera has recorded a major milestone as the cumulative transaction on the mainnet crosses 20 billion. This was reported by the project’s official X (Twitter) account. Adding a little detail to the journey so far, Hedera stated that the project used 6.5 years to record the 10 billion mark. In just 100 days, it added another 10 billion.
#Hedera: 20 Billion Transactions
1,738 days for the first 10 billion –
100 days for the next 10 billion.Real-world adoption; real-world utility.#HelloFuture pic.twitter.com/3kuYu8uNGw
— Hedera (@hedera) September 5, 2023
It is also important to note that the current data has been confirmed by Hederatxns.com, a platform dedicated to tracking real-time data. As of press time, 161 million transactions had been added to the 20 billion.
Another interesting announcement by the team is that the BCW Group has acquired the hashgraph.name domain service. BCW has since 2018 worked with Hedera to ensure that improvements to the network are executed through the provision of critical infrastructure tools. According to the report, it has been working with The HBAR Foundation and the Hashgraph Association to provide consultation to enterprises that seek to build use cases on Hedera.
This acquisition demonstrates BCW’s committed mission to help develop the Hedera ecosystem by delivering real solutions and value to community members. By extending the naming services functionality, making it both more accessible and engaging to existing and new users, the service will play an important role in driving increased adoption of the network.
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More on Hedera and Price Analysis
With this acquisition, there would be new potential ecosystem partnerships. Also, the utility and value of the names would be massively advanced according to the report.
Hedera’s first quarter performance was incredible as it surpassed 6 billion total transactions due to its unparalleled scalability. According to reports, it beats the traditional blockchain networks that face challenges of slow transaction speeds and high fees. Thanks to its innovative consensus algorithm called Hashgraph, Hedera enables “lightning-fast, secure, and cost-effective transactions.”
Another reason for its Q1 performance is said to be its groundbreaking partnership.
The platform has joined forces with global enterprises, startups, and governments to revolutionize industries and drive mainstream adoption of blockchain technology. From decentralized finance (DeFi) projects to supply chain solutions and even government initiatives, Hedera’s partnerships have the potential to reshape entire sectors and disrupt traditional models.
According to L. Laura, the asset has a huge potential to trade between $0.072 and $0.089, with an average price of $0.077 by the end of the year. By the end of 2025, Hedera is expected to trade within the range of $0.23 and $0.28 with an average price of $0.255. By 2030, the analyst predicts the asset to have an average price of $0.60.
The asset is currently trading at $0.049102 and has fallen by 11 percent in the last seven days. In the last 24 hours, Hedera has risen by 1.75 percent.
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