HBAR Price Sees Ultra Bullish Prospects As Hedera Hits This Key Milestone

HBAR Crypto News: The Hedera (HBAR) network which runs on distributed ledger technology, Hashgraph,  announced via a tweet on Wednesday that it has hit 2 million HBAR accounts on the Hedera mainnet. The DAG-based network has lately been making significant progress despite the broader cryptocurrency market experiencing a roller coaster of a ride.

Hedera Smashes 2M User Accounts

Even though the network faces fierce competition from some of the big players in the industry, the team believes that the rise in growth has been due to areas like performance, security, governance, stability, decentralised applications (Dapps), and regulatory compliance. As part of its goal to provide transparency to its users, Hedera has engaged third-party security auditors and assurance providers to perform independent audits of the engineering work performed by Hedera’s development team and its network services.

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Hedera reached its first million user accounts shortly before the end of the previous year, and based on how things are now shaping out, the company anticipates reaching 3 million in the not-too-distant future. With the surge in Hedera-based NFTs, GameFi, and DeFi ecosystems through numerous grants and accelerator programs, Hedera has launched and partnered with a slew of upcoming crypto projects to drive wider adoption.

HBAR Price Action

In light of this HBAR crypto news, both the HBAR community and the larger crypto market have reacted positively to the announcement. Market participants are of the opinion that this may eventually result in a bullish scenario for the HBAR token as it sees more impending utility from the growing number of user accounts being created.

As things currently stand, the price of HBAR is exchanging hands at $0.063, which represents a gain of 0.35% over the past 1 hour in contrast to a drop of 6% recorded over the last 24 hours. Additionally, it should be noted that, HBAR’s technical analysis (TA) indicators at CoinGape’s price tracker presently recommend a strong sell position, advising “sell” at level 14 and a “buy” at level 1 by its moving averages.

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