Hedera Price Prediction | Is Hedera a Good Investment?

What is hedera (HBAR)? In this article we look at the protocol, the latest hedera coin news and the outlook for the price of HBAR in 2022. We’ll also cast our eyes over some of the hedera price predictions that were being made as of 31 August 2022.

Hedera explained

The Hedera network launched in 2018, aiming to provide a high-speed, enterprise-grade public blockchain network. Developing organisation Hedera Hashgraph was co-founded by former chief scientist and CEO, Dr Leemon Baird and Mance Harmon, respectively.

The system is based on a hashgraph, which sees nodes share information with each other via a so-called gossip protocol. While that concept is relatively complex, the upshot of it being used as the basis for a crypto is that, at least in theory, it is far quicker.

As the website says: “Hashgraph achieves high-throughput with 10,000+ transactions per second today and low-latency finality in seconds from its innovative gossip about gossip protocol and virtual voting. Once consensus is reached, the transaction is immutable and available on the public ledger for everyone to transparently see.”

According to the system’s whitepaper: “The Hedera network will be governed by a council of leading global enterprises, across multiple industries and geographies.

“Its vision is a cyberspace that is trusted and secure, without the need for centralised parties with inordinate influence. 

“Its licensing and governance model protects users by eliminating the risk of forking, protecting the integrity of the codebase and providing open access to review the underlying software code.”

“Platform governance will be decentralised through the Hedera Governing Council, which will have a term-limited, rotating set of governing members that each have equal voting rights over key decisions relating to the platform.”

Every crypto network needs to have its own native token, and Hedera has the conveniently-named hedera crypto, also known by its ticker handle HBAR. People who hold HBAR are able to carry out transactions on the network.

Hedera developments

Hedera began developing HashPack, its non-custodial wallet, in March 2021 and launched it in October as a browser-based app and Chrome browser extension. Features included support for multiple accounts, address books, and mainnet and testnet functionality, along with support for the Ledger hardware wallet and MoonPay purchases of HBAR.

Hedera is working with several partners to develop non-fungible token (NFT) and metaverse applications.

Related articles

BlockDAG’s CEO and Team Announced: Expected to Surpass Hedera and Polygon with a $1 Projection

30 July 2024

VeChain (VET) And Hedera (HBAR) Triple Red Charts. Rollblock (RBLK) Seems The Summer Sure Money Bet – Times Tabloid

28 July 2024

On 14 September, The Creator’s Galaxy Foundation, which is developing an ecosystem for creators, announced details of the Galaxy Protocol and its first application, the open social marketplace Calaxy. Every user of the Calaxy app has a Hedera account and pays transaction fees in HBAR, increasing the use of the coin. 

On 16 November, Hedera announced that digital workflow company ServiceNow was integrating its platform with Hedera’s digital ledger technology to bring data integrity to digital transformation transactions.

On 29 November, South Korean bank Shinhan announced it had completed development, with a large global bank outside Korea, on a proof-of-concept built on the Hedera network that focused on international remittances using stablecoins. 

“Utilising the Hedera Token Service (HTS) and Hedera Consensus Service (HCS), the project aims to test the issuance and distribution of stablecoins, applied to a financial use case that typically suffers from high fees, longer waits and the absence of tracking features,” the statement said.

On 14 December, Hedera announced its partnership with MetaVRse.

ADVERTISEMENT

“The creation of the metaverse will require tools that are easy to use and accessible to all, and MetaVRse is enabling creators to build the next generation of the internet quickly and simply with turnkey solutions. The HBAR Foundation is supporting these efforts via a grant and organisational support to fuel building the infrastructure of the enterprise metaverse on the Hedera Network,” the statement said.

In 2022, on 19 January, The Hedera Governing Council voted to purchase the intellectual property (IP) rights to the Hashgraph consensus algorithm. They also committed to making the code open source under an Apache 2.0 licence in 2022.

Hedera price rebounds

The hedera coin chart shows that the price ranged between $0.01 and $0.08 from the time the coin launched until the start of 2021, when it began to take off.

HBAR started the year at $0.03181 and rallied to a high of $0.4495 on 15 March 2021, as the cryptocurrency markets rallied. The price began to retreat in April and declined as the markets crashed, bottoming out at $0.1559 on 21 July 2021. 

HBAR gained value with the rally in the broader markets over the summer, returning to the $0.30 level in early September, then spiked to a new all-time high of $0.5701 on 16 September 2021. 

The jump in price came as the Hedera Governing Council announced, on 16 September,  the approval of a plan to allocate roughly 20% of the HBAR supply, or 10.7 billion coins valued at $5bn, towards the development of the Hedera ecosystem to accelerate adoption of the network.

The council initially allocated up to 5.35 billion HBAR coins, valued at around $2.5bn at the time, to the newly established independent HBAR Foundation.

“With the establishment of the HBAR Foundation we aim to drive exponential adoption, growth, and value,” said Shayne Higdon, executive director and CEO of the HBAR Foundation. “Our mission is to fund a future where entrepreneurs form digitally-native economies and ecosystems, controlling their own assets, identities, data, marketplaces, and more.”

The HBAR price had dropped back to $0.2918 by 21 September but resumed its upward trend, rising to $0.4768 on 12 November 2021. The price retreated again as cryptocurrency markets weakened in the second half of November, reaching a low of $0.2183 intraday on 14 December 2021. But HBAR then moved back up in response to the MetaVRse announcement, trading above the $0.30 level.

HBAR would continue to to hover around this price until early January this year. It closed at $0.2883 on 5 January and has not been able to reach $0.30 since. On 11 April, it declined to $0.1927, and one month later it fell below $0.10 as the market was shook by the depegging of the UST stablecoin and the collapse of the associated LUNA crypto, reaching a periodic low of $0.07503 on 12 May.

Although there was some recovery after that, the news that the Celsius Network (CEL) crypto lending platform had cancelled withdrawals confirmed the bear market and, on 18 June it reached a low of $0.05867. After that, the price rose slowly to reach a periodic high of $0.08339 on 11 August, but it has slumped again and, on 31 August 2022, it was trading at about $0.06455.

At that time, there were 21.08 billion HBAR in circulation out of a total supply of 50 billion. This gave it a market cap of $1.36bn, making it the 40th largest crypto by that metric. 

What is the outlook for the hedera future price? Let’s look at the latest forecasts.

Hedera price prediction round-up

Let’s now examine some of the hedera price predictions that were being made as of 31 August 2022. It is important to remember that price forecasts, especially for something as potentially volatile as cryptocurrency, are very often wrong. Also, long-term price predictions are also often made using an algorithm, which means that they can change at a moment’s notice. 

First, PricePrediction had a hedera coin price prediction that said the crypto could have reached $0.094 at some point this year, before $0.13 next year and $0.20 the year after that. By 2025, the site said HBAR could be priced at $0.29, before it could have traded at $0.40 in 2026 and $0.62 in 2027. The prediction suggested the coin could have gone on to trade at $0.89 in 2028 before it closed the decade having possibly broken through the dollar barrier to $1.29. The hedera price prediction for 2030 which suggested it could have reached a potential $1.91 and $2.82 in 2031. 

Next, CoinsKid made a hedera price prediction for 2022 that saw the coin could have closed the year at $0.0851 before it could have gone on to $0.1074 in August 2023. The HBAR price prediction said the coin could have been valued at $0.181 in August 2024, before it could have climbed to $0.1978 a year from then. By August 2026, the site said it was possible that hedera could be priced at about $0.3976 before it could have closed the year at about $0.5562. 

Meanwhile, DigitalCoinPrice had a hedera crypto price prediction that said HBAR could have achieved $0.0847 in 2022, $0.0968 in 2023 and $0.10 in 2024. The site then went on to make a hedera price prediction for 2025 that it could have reached $0.13, before it dropped to $0.11 the following year. There was better news ahead, though, as the site outlined HBAR could have recovered to $0.15 in 2027, $0.21 in 2028 and $0.27 in 2029. By 2030, it was thought the coin could have gone on to about $0.29, and then $0.34 the following year. 

Finally, WalletInvestor was far more bearish in its HBAR coin price prediction and said the coin could be in for a rough time over the coming year and could have traded down to $0.0071 by late August 2023. 

When considering an HBAR price prediction, it’s important to keep in mind that cryptocurrency markets remain extremely volatile, making it difficult to accurately predict what a coin or token’s price will be in a few hours, and even harder to give long-term estimates. As such, analysts and algorithm-based forecasters can and do get their predictions wrong.

If you are considering investing in cryptocurrency tokens, we recommend that you always do your own research. Look at the latest market trends, news, technical and fundamental analysis, and expert opinion before making any investment decision. Keep in mind that past performance is no guarantee of future returns. And never trade with money that you cannot afford to lose.

Additional reporting by Peter Henn

FAQs

Further reading