Litecoin (LTC) and Hedera Hashgraph (HBAR) are signs of strength showing further bullish moves to higher prices. Strong market fundamentals and major market activity are propelling this bullish trend. Currently, Hedera’s native token HBAR is trading at around $0.15 and some analysts believe that HBAR price could rise to as much as $0.80. This rosy projection is contingent upon the continued successful defense of vital support lines. It takes into account the impact of Hedera’s current initiatives, like the establishment of new payment corridors and an AI Studio.
Payment Corridors and Real-World Applications
Hedera is currently working on two pilots corridors for payments, strategically placed in the West Africa and Southeast Asia region. These corridors will serve as the proving grounds for real-world transfer capabilities, which we expect to see before summer’s end. The initiative serves as a great use-case example of how fast and seamless HBAR can be for international remittances. That would dramatically expand its usage and usefulness.
The successful rollout of these payment corridors would be a game-changer for HBAR’s price. Analysts believe that even a successful trial would only propel the price from its existing $0.15 to $0.20 at most. Hedera is dedicated to delivering real-world solutions within the financial sector, as evidenced by its stateable payment corridors. This coordinated effort builds trust for investors as well as users.
AI Studio and Gaming Initiatives
Earlier this month, Hedera announced the release of their open-source AI Studio, allowing developers to build voice-ready dApps on the Hedera network. This initiative extends the reach of Hedera’s ecosystem even further, bringing in developers looking to combine AI and blockchain technology. Hedera has joined forces with OneWave to create a cutting-edge gaming partnership. Combined, they hope to bring Web3 rewards to 169 million mobile subscribers across Indonesia and the Philippines.
These strategic moves into AI and gaming not only reflect the zeitgeist but Hedera’s ambition to diversify its applications and user base. Hedera is banking on these burgeoning industries. This strategy makes it well-suited to serve as the platform for the most innovative, creative projects. The combination of AI and Web3 rewards is revolutionizing mobile gaming. This shift would increase demand for HBAR and help to drive up its price as a result.
Funding and Market Analysis
By preselling 548,540,535 tokens to their team members, Hedera’s team has managed to raise $15.9 million. The project is now humming towards its $18 million soft cap. This funding gives Hedera the financial resources to effectively fuel development and accelerate ecosystem growth. India-born chart consultant Jit Amberly has found HBAR laying out a possible route to $0.80 later this year. This scenario hinges around recreating that support band.
Amberly’s analysis should be considered as good news for HBAR. Should the token manage to keep firmly above a high support level, it will likely experience a rapid increase in price. The bullish HBAR long-term price prediction for 2023 is still pegged at $0.80 indicating the strong fundamentals of the project and its growing potential. With successful fundraising and focused strategic partnerships, Hedera is pushing forward. At the same time, bullish market predictions contribute to the promise of its native crypto.
