Hedera Hashgraph (HBAR) Price Prediction: Will HBAR Price Cross 10x ($3.0) By The End Of 2021?

By Sunil Sharma
Published July 3, 2021 Updated July 3, 2021
Hedera Hashgraph (HBAR)

Hedera Hashgraph (HBAR) Price Prediction: Will HBAR Price Cross 10x ($3.0) By The End Of 2021?

Why Hedera Hashgraph (HBAR)?

Hedera Hashgraph is one cryptocurrency project that’s taken a completely different approach to creating distributed ledger technology.

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Over the past years, Hedera Hashgraph has made incredible strides towards institutional adoption and has secured multiple institutional partnerships putting the crypto project ahead of many in the area of enterprise-focused projects by the end of 2021.

Hashgraph is an open review consensus algorithm developed in 2016 by Dr. Leemon Baird.

Hedera is the decentralized public network and governing council-owned and governed by a global council, including Baird’s company Swirlds Corporation.

The only public distributed ledger in the world that uses a unique Hashgraph algorithm, with its very own native token HBAR.

HBAR’s coins are used to power decentralized applications, make payments, and secure Hedera’s Proof-of-Stake network. Dr. Leemon Baird’s Hashgraph technology is a compelling alternative to blockchain, now popularly called the next-generation blockchain.

As a blockchain, Hashgraph is a decentralized and public distributed ledger. However, the way it works differs from blockchains in several ways and even offers some vast improvements.

Hashgraphs make use of DAG- Directed Acyclic Graph architecture which is much different from native blockchain architectures.

Hashgraphs solve the same problems that a blockchain does but differently.

Hedera Hashgraph brings three primary services to general users and developers in the crypto space.

  1. A cryptocurrency that can handle up to 10,000 transactions per second.
  2. Offers Scalable Smart Contracts.
  3. File Service.

The potential applications of Hashgraph, similar to blockchain, are infinite, from settling micropayments to music and intellectual property rights, supply chain management, decentralized advertising, DeFi, IoT, etc.

There are over 300 Dapps built on the Hashgraph platform, including the Digital Health and Connected Diagnostics Platform, SAFE Health System Inc, used by over 150,000 users at Delta, Arizona State University the Coupon Bureau.

Below is a list of decentralized applications built and now Live on the Hedera Mainnet:

ADPROV, ADSDAX, ALL OVER CHAIN, ARMADA CHAIN, BINSIGNIA, CARBON, CERTARA, CHAINLINK, COINSQUAD, EARTHTILE, EVEC, HASH-HASH, HASHING SYSTEMS, HABRPRICE, HEX, HMANAGER, INTELLECTUAL PROPERTY VAULT, LONESTAR DATA TECHNOLOGIES, MYEARTH.ID, MYHBARWALLET, OTRAFY, PLAYHASH, POWER TRANSITION, REJOLUT, TUNE.FM, ZABO.

You can get more details of these applications at www.hedera.com/users.

Future of Hedera Hashgraph (HBAR) Token

Ongoing Development on the Hedera Hashgraph Project

  • HBAR Github

The Hedera Hashgraph project currently has 55 repositories on its Github page, with hedera-services as the main repository, MyHbarWallet, hedera-wallet-android, and hedera-wallet-ios as wallet repositories.

  • Hedera-service repository

Hedera hashgraph (hbar)
Source: github.com

The main hedera-services repository currently has 44 releases, 16 contributors, 4260 commits, three open pull requests, 454 closed pull requests, and nine merged pull requests.

  • The MyHbarWallet

hbar wallet
Source: github.com

Presently, there are three releases for the MyHbarWallet, eight contributors, 2168 commits, three open pull requests, 210 closed pull requests, 19 open issues, and 184 closed issues.

  • Hedera-improvement proposal

hbar
source: github.com

The hedera-improvement proposal is another crucial repository of the Hashgraph project with eight contributors, 66 commits, one open pull request, 15 closed pull requests, three merged pull requests and ten closed issues.

  • Hedera Mirror node

Hbar
Source: github.com

The following are companies that are council members of Hedera Hashgraph. They include Boeing, Telecom, Google, IBM, TATA communication, LG, and more, all come together for Hedera Hashgraph.

Hedera Hashgraph (HBAR) Roadmap 2021

Q1 2021

  • (Network) Phase – 1: Additional Network Automation
  • (Network) Hedera Token Service
  • (Demos) – HTS Demo
  • (Ecosystem) – HTS Exchange Integrations
  • (Ecosystem) HTS Wallet Integrations
  • (Ecosystem) HTS Custody Integrations
  • (Network) Mirror Node Rosetta API Integration
  • (Ecosystem) Community SDKs
  • (Network) HCS Scaling
  • (Demos) HCS-Based NFT Demo

Q2 2021

  • (Network) Phase 2 – Additional Network Automation
  • (Network) State Proofs
  • (Network) Scheduled Transactions
  • (Network) Automated Congestion Pricing
  • (Ecosystem) HBAR Wallet Integrations
  • (Ecosystem) Digital Asset Platform Integrations
  • (Ecosystem) Interoperability Integrations
  • (Demos) Validators Network Demo
  • (Demos) Interoperability demo

H2 2021

  • (Network) – Phase 3 Additional Network Automation
  • (Network) – Matching Transactions
  • (Network) – Sharding
  • (Network) – Open Node Monitoring
  • (Network) – Full Mirror Node

Hedera Hashgraph Major Partnerships:

  • IBM and Tata Partner with Hedera Hashgraph – link
  • Hedera Hashgraph (HBAR) partners with Google on 11th Feb 2020 – link

Also Read: A Trader Accidentally Bought $9,066 W orth of Hedera Hashgraph (HBAR) at $0.0 and it got filled!

Hedera Hashgraph (HBAR)’s Competition analysis with similar projects

Comparing HBAR Hashgraph to Bitcoin and Ethereum based on Transaction fee and Security

  • Transaction Fees

With Bitcoin and Ethereum’s transaction speeds at 7 TPS and 15 TPS, respectively, HBAR’s Hashgraph transaction speed is at 10k TPS. Transaction fees on Ethereum and Bitcoin can be up to $0.03 – $10.00 or more in some cases where the network is congested.

With no miners to compensate as Hedera Hashgraph use a Proof-of-Stake consensus algorithm, fees on the network can stay at $0.0001 irrespective of the network congestion and paid in HBARs, making it stable and attractive for enterprise use and adoption.

  • Security

Bitcoin and Ethereum currently use the Proof-of-Work consensus algorithm, while Hashgraph using an aBFT Asynchronous Byzantine Fault Tolerance algorithm claims to have the highest level of Security for a consensus algorithm.

Hashgraphs aBFT algorithm can achieve consensus with 100% finality by assuming that messages within honest nodes will be delayed or never reach their recipient, such as in a case of a malicious attack.

Hedera also doesn’t require energy-heavy Proof-of-Work resources.

For diversity and stability, Hedera is backed by a council of 39 term-limited organizations and Blue-chip enterprises representing 18 industries worldwide, including Australia, Japan, South America, and India.

HBAR Token 2021 Price Levels and Projections

  • HBARUSDT Monthly Chart Analysis

hbar chart
HBAR chart by Tradingview

The HBARUSDT recently broke out of an upward channel formed by both bearish and bullish divergence structures on 22 February ’21 and 01 March ’21, reinforcing confidence to resume the upswing.

The uptrend started on 30 November ’20 after the RSI entered the overbought area and never went back to the oversold.

  • HBAR/BTC Monthly chart

Hbar chart
HBAR chart source by TradingView

The HBARBTC exchange rate trades near the 10 August ’20 resistance zone and immediately starts a decline.

The 0.00000502 resistance signals that BTC investors may start moving their funds out of HBAR and into BTC.

We expect a price correction from here and a continuation of the up move after the RSI drops below level-70.

As a reminder, we are still in a bullish trend, as the bulls took over on 18 January ’21 after entering the overbought area with a closing price at 0.00000291.

What will be the price of Hedera Hashgraph (HBAR) at the end of 2021?

Following the technical chart setups on the HBAR chart and the Github page’s activities, the HBAR price is projected to roughly 2.34791 in 2021.

Is HBAR token a Good Investment for the future?

HBAR is a good investment for the long term as the weekly time frame analysis highlights a recent increase in buy pressure. We expect the asset to attain a 2X Market Cap projection from the current price level of 0.35284.

HBAR

HBARhbar

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Disclaimer The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Sunil Sharma
203 Articles
Sunil is a serial entrepreneur and has been working in blockchain and cryptocurrency space for 2 years now. Previously he co-founded Govt. of India supported startup InThinks and is currently Chief Editor at Coingape and CEO at SquadX, a fintech startup. He has published more than 100 articles on cryptocurrency and blockchain and has assisted a number of ICO's in their success. He has co-designed blockchain development industrial training and has hosted many interviews in past. Follow him on Twitter at @sharmasunil8114 and reach out to him at sunil (at) coingape.com