Hedera (HBAR) Price Surge and Drops
The price of Hedera (HBAR) surged along with Bitcoin on August 29, but dropped after hitting a barrier at $0.058. Over the past week, HBAR’s price has been in decline, breaking support levels one after another. It first broke the support at $0.058, then recovered briefly to $0.061 before dropping again to $0.056. It was rejected at $0.058 multiple times, eventually reaching a low of $0.051. Currently, the price sits at $0.054.
Hedera Development Goals for 2023
Hedera has set goals to enhance its protocol adoption and strengthen the decentralized community. It aims to attract companies by improving scalability, security, privacy, and transaction throughput. The project also focuses on interoperability between different blockchains and has become a popular platform for launching NFTs. With its ability to handle over 10,000 transactions per second, Hedera is seen as having great potential.
Sonik (SONIK) as an Alternative
Sonik is a newly emerged cryptocurrency that can be considered as an alternative to Hedera. While not a competitor, Sonik has gained popularity as a meme coin inspired by Sonic The Hedgehog. It raised over $761k in a week and offers its tokens at $0.000014 each. Sonik plans to introduce staking, where users can receive rewards for staking the token, setting it apart from other meme coins.
Hot Take
Hedera’s price has experienced volatility recently, but its development goals and potential for growth make it an interesting project to watch. However, Sonik offers an alternative for those looking for something different in the cryptocurrency market.
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