Hedera Hashgraph’s native coin, HBAR, is the talk of the cryptocurrency market after an impressive price surge. Within four weeks, the coin reversed a bearish trend that had lasted for over 1,000 days. As investor interest grows, experts are increasingly relying on lofty price predictions, suggesting increased confidence in this enterprise-grade public ledger.

At the time of writing, HBAR is trading at $0.3173. Even though the coin has lost 10% in the last 24 hours, it has performed very well over the week and month. It’s worth noting that HBAR has remained huge Up 801% in the last 30 dayswhich made buyers very cheerful.

What is driving this energetic? A combination of inventive improvements, partnerships and market optimism. HBAR’s rebound is more than just a price surge – it’s a transformation in the way the project is positioned in the blockchain space.

Aggressive targets in a bull market

Experts predict HBAR will be worth $5 as the cryptocurrency bull market continues. The more conservative $2.50 indicates forceful upside potential if the market tops in April 2025. This positive sentiment is not based solely on assumptions. Hedera is preparing for major announcements, including a recent privacy layer that will allow consumers to instantiate a private network while still being connected to the public ledger.

Dr Leemon Baird, co-founder of Hedera, believes this privacy layer has the potential to transform areas such as finance, healthcare and supply chain management. Hedera addresses significant gaps in blockchain technology, providing organizations with a secure yet interoperable solution.

Ripple partnership increases HBAR usage

Another motivating factor is Hedera’s growing integration with blockchain-based payment systems. This technology, available through Dropp, plays an essential role in the Federal Reserve’s FedNow system by enabling brisk and secure transactions.

Moreover, its interaction with Ripple (XRP) proves that it is a forceful contender in supporting USD transactions. The likely certification of the RLUSD stablecoin by Ripple in December could lend a hand strengthen HBAR’s position in the payments ecosystem, thereby promoting acceptance across multiple sectors.

The augment in efficiency sets recent standards

Hedera doesn’t stop at privacy. A significant update is coming that will potentially augment transaction throughput to 500,000 transactions per second (TPS). This advancement would make Hedera the world’s fastest blockchain network, which could significantly change market dynamics.

$HBAR (Hedera) continues to show significant strength here and could still be set to continue with ≈$0.504 as a target!

With this goal in play, we could see almost 3X from here in the additional +192% elevation to achieve it… https://t.co/J1gtwa1Xgl pic.twitter.com/26wq1Tp9ga

— JAVON⚡️MARKS (@JavonTM1) November 29, 2024

While the Relative Strength Index (RSI) indicates increasing buying activity, approaching overbought levels may indicate profit-taking. Still, experts like Javon Marks are hopeful, forecasting a rise to $0.504, or nearly three times its current value.

HBAR open interest increased 28% to $187 million. Capital inflows indicate an augment in confidence, suggesting that HBAR growth may continue. Investors and enthusiasts should monitor Hedera’s progress.

Featured image from Pexels, chart from TradingView