Hedera (HBAR): Increase in Transaction Speed Could Have this Effect on Asset’s Price

The latest Hedera platform tweeted about its improved transaction speed compared to its rivals in the cryptocurrency marketplace. The October 20 tweet showed HBAR ranked 3rd in transaction speed, recording 49.55 TPS. The platform stood behind Solana and Stellar in this front.

Hedera Developments

Hedera added that it outshined several digital assets on the transaction processing speed metric. These included Algorand and Polygon. Though the lucrative transaction speed, Hedera didn’t perform well in some areas.

For example, HBAR’s volume exhibited massive volatility within the last seven days. Moreover, its overall volume declined by 66% over the previous seven days. The asset’s market capitalization dominance maintained declines, plummeting by 7.36% in that timeframe.

While publishing this content, HBAR dominates 0.16% of the cryptocurrency market. Nevertheless, the token’s volatility remained low despite the slump in market cap and volume, reducing by 40% within the past month.

That would suggest less risk for investors to purchase Hedera during this publication. Nevertheless, despite Hedera’s declines in these sectors, HBAR’s platform performed well within the decentralized finance (DeFi) space.

DeFiLlama data shows HBAR’s total value locked presented lucrative growth within the last few weeks. While publishing this blog, HBAR’s TVL stood at $19.83 million, depreciating by 3.06% within the past 24 hours.

Though Hedera saw impressive developments in the DeFi sector, it recorded downturns in the dApp sector. Moreover, DappRadar data shows Hedera’s top-performing decentralized applications, like HeliSwap and SaucerSwap, saw a negative week.

SaucerSwap’s new active users declined by 3.21%, whereas HeliSwap’s unique users plummeted by 14.97%. Nevertheless, the slump in dApps interest didn’t dent HBAR price growth. While writing this blog, the alternative token traded 3.03% higher over the past day. The asset’s volume increased by 40% in that timeframe.

Developments like the Hedera Halloween event might have contributed to HBAR’s latest upswing. The crypto market remained nearly unchanged within the last 24 hours. The global cryptocurrency market capitalization stood at $1.03 trillion during this publication, gaining 0.39% within the past 24 hours.

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