HBAR Crypto News: The Hedera (HBAR) network running on distributed ledger technology, Hashgraph, announced through a tweet on Wednesday that it has reached 2 million HBAR accounts on the Hedera mainnet. The DAG-based network has made significant strides recently, despite the broader cryptocurrency market going through a rollercoaster of a ride.
Hedera destroys 2 million user accounts
While the network faces stiff competition from some of the industry’s big players, the team believes the increase in growth is due to areas such as performance, security, governance, stability, decentralized applications (Dapps), and regulatory compliance . As part of its goal of providing transparency to its users, Hedera has engaged third-party security auditors and assurance providers to conduct independent audits of the technical 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 last year, and based on how things look now, the company expects to reach 3 million in the not-too-distant future. With the proliferation of Hedera-based NFTs, GameFi and DeFi ecosystems through numerous grants and accelerator programs, Hedera has launched a slew of upcoming crypto projects and collaborated to drive wider adoption.
TREE! It’s official: 2 MILLION accounts on the @hedera mainnet! We reached 1 million accounts together in August 2022 – 8 months ago. Next: 3 million accounts in the next 6 months. Now is our time. To see #hedera‘s growth on Dragonglass: https://t.co/TQ6RHtlscX#ℏashgraph $HBAR@HBAR_foundation pic.twitter.com/QJAI8Gq1GK
— DragonGlass (@dragonglassme) April 18, 2023
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 believe that this could ultimately result in a bullish scenario for the HBAR token as it sees more utility from the growing number of user accounts being created.
BREAK: $HBAR just created 2 MILLION accounts on mainnet.
I’m not stopping these bullish Hedera tweets today, this is great! pic.twitter.com/j0uKzhVsOL
— MASON VERSLUIS 🏆🔮 (@MasonVersluis) April 19, 2023
As things stand, the price of HBAR is trading hands at $0.063, representing a 0.35% gain in the last hour as opposed to a 6% drop in the last 24 hours. Additionally, it should be noted that HBAR’s technical analysis (TA) indicators on CoinGape’s price tracker are currently recommending a strong sell position, with a “sell” advised at level 14 and a “buy” at level 1 by its moving averages.
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Pratik has been a crypto evangelist since 2016 and has experienced almost everything crypto has to offer. Be it the ICO boom, the bear markets of 2018, Bitcoin’s halving so far – he’s seen it all.
The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication is not responsible for your personal financial loss.
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