EVM-compatible AUDD launches on Hedera, pushing Hedera’s stablecoin market cap to nearly $0.3T.
Australia has officially launched their Australian Dollar-pegged stablecoin AUDD on Hedera’s Hashgraph (HBAR). The innovative move is powered by Hedera Token Service (HTS), enabling Web3 users to comfortably navigate around the Hedera Stablecoin Studio.
HBAR Offers Stablecoin Use In Cost-Effective Way
This allows holding, receiving & sending of AUDD in a seamless way, enabling real-time payments between merchants, while keeping the fees at just $0.001 USD per transaction. Moreover, Hedera’s (HBAR) network is known for their strive towards a carbon-negative footprint, so environmentally-friendly companies won’t have to worry about the costs of nature.
Naturally, the Asian Pacific region is going to be enriched with tokenization of goods & services, making digital payments via stablecoins a casual thing. Moreover, the exponential growth in Hedera’s stablecoin ecosystem is now targeting a third of trillion dollars. According to latest DefiLlama’s stats, the real-time market cap exceeds $251 billion, mostly dominated by USDC.
Will Australian Dollar Integration Boost HBAR Price?
Amidst the highlight integration between AUDD on Hedera Hashgraph, the Distributed Ledger Technology (DLT) employing the chain’s native HBAR token slumped further. On a 7-day basis, HBAR has been riding along with the broader altcoin competition to face double-digit deficits.
To flip the script, Hedera’s native cryptocurrency has a lot of track to cover. For one, HBAR price is ought to reclaim the $0.15 level, aligning with the mid-tier Bollinger Band (BOLL), pictured in blue color. However, neither crypto whale confidence nor trading volume suggests an imminent breakthrough.
With the trading volume at $111 million, HBAR saw a major downswing on Derivatives markets, dropping by 34% overnight to $174 million. Crypto whale sentiment was also bearish, as the large money-tracking Chaikin Money Flow (CMF) tumbled way below zero, hovering at -0.15 on the 4-hour price charts.
On The Flipside
Why This Matters
This represents a real-world use case for Hedera’s chain, successfully meeting the needs of regulators & enterprise-grade investors.
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