Hedera [HBAR] celebrates transaction milestone- Is it enough to rejuvenate demand?
According to the update, the Hedera network averaged 532.31 TPS. In contrast, the Ethereum mainnet averaged roughly 17 TPS in the last seven days.
While these achievements highlight Hedera’s capabilities, they have not had much of an impact on investor sentiment.is among the top cryptocurrencies that have avoided a strong pullback for the most part since the start of 2023.. HBAR’s $0.079 price tag represents a 14% pullback from its 7-day high.HBAR’s press time price also puts it within the January and early February resistance levels.
This range may turn into new support if the bullish momentum starts to build up. Such an outcome is more likely to take place when the RSI retests its 50% level as is currently the case with HBAR. But what is the current investors’ mood regarding cryptocurrency?Furthermore, HBAR’s weighted sentiment achieved a slight uptick in the last few days, confirming that some investors are shifting to a bullish stance after the pullback.
HBAR’s development activity fell back to its current monthly lows, although a slight recovery was observed. The cryptocurrency’s on-chain volume demonstrates a similar outcome where it has dropped to a weekly low with little improvement.These observations confirm that not much of a change has been observed that may suggest a potential shift in demand. In other words, the price may continue tanking.
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