Hedera frontruns in developing the Real World Asset infrastructure as multiple major names adopt the technology.
The Real World Asset (RWA) market is growing to unprecedented heights, now topping $25 billion. Santiment, a popular blockchain analytics firm, has lined up the TOP 10 most active blockchains in the field, judging by developer activity since last month.
Hedera Network Leads RWA Flock; LINK Close
Interestingly, Hedera Hashgraph (HBAR) tops this chart, scoring 315.13, while the only one that comes close is Chainlink (LINK) at 268.27. With the Oracle narrative going strong amidst multiple integrations, LINK exceeds Avalanche (AVAX) & Stellar Lumens (XLM) combined.
Handling up to 10,000 transactions per second (TPS), Hedera’s HBAR Network is still considerably smaller in market cap compared to the Oracle-based Chainlink (LINK) & Stellar Lumens (XLM). The discrepancy between market size & developer activity could lead to price appreciation.
Stablecoins & MMFs Quicken HBAR Adoption
This liquidity boost could be rotated in two different ways. For one, Hedera’s HBAR Network is making its mark in the stablecoin game. Mostly dominated by Circle’s USDC, HBAR has a dedicated stablecoin suite specifically-tailored for institutional-grade investors.
With Google, IBM & Samsung on the advisory board at Hedera Council, the chain’s compliance-first approach resembles that of Ripple (XRP). This attitude has brought in a couple of major financial brands already, including BlackRock & State Street’s multi-billion dollar money-market fund (MMF) tokenization via the partnering Archax custody & infra provider.
Momentum Implications On Hedera’s HBAR Price
The recent bullish Hedera (HBAR) news has pushed the DLT altcoin above $0.097, which also represents the middle-tier Bollinger Band (BOLL).
For a bullish takeover to occur, HBAR needs to close the day above $0.106, aligning with the red-label Bollinger Band. As long as the lower support of $0.088 holds, the worst price performance for HBAR may be over this month.
As the retail soaks in panic, big-time crypto investors are choosing to stay on the sidelines. Judging from the Chaikin Money Flow (CMF) on HBAR’s daily price charts, the status quo at 0.00 paints a picture of division.
This is due to high price correlation with Bitcoin (BTC). As the bellwether digital asset hovers above $66K, a downswing below could lead to a retest of $60K.
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