From 24/7 Wall St. · Sam Daodu · · 1m 50s
Hedera's Network Activity Surges 168% as HBAR Drops 8%
Hedera's network activity up 168% but HBAR down 8% this week: better buy than Solana?
In brief
Hedera's network activity up 168% but HBAR down 8% this week: better buy than Solana? Hedera's network activity rose 168% while HBAR fell 8% this week, but Solana remains the stronger investment due to higher market cap and trading volume. Originally reported by 24/7 Wall St..
Hedera's Network Activity Rose 168%
Hedera's network activity increased 168.4% over the past 30 days, according to Token Relations.
HBAR Price Fell 9.5% This Week
HBAR traded at $0.0836, down 9.5% over the last week from its $0.122 peak in late September.
Solana Price Down 4.6% This Week
Solana (SOL) is priced at $105, down 4.6% over the week from its all-time high of $293.
Hedera Joined UK Taskforce
Hedera joined the UK’s Wholesale Digital Markets Champion Taskforce and made its cross-ledger protocol open source.
HBAR's Price Drop Explained
HBAR dropped 17.8% over two weeks after IBM added a Hedera-based identity app, but remains up 14.9% over 30 days.
HBAR's Market Cap at $3.68 Billion
HBAR's market cap is $3.68 billion, down 85.3% from its all-time high of $25.1 billion.
Solana's Market Cap at $61.7 Billion
Solana ranks seventh by market cap at $61.7 billion, with 30 times higher trading volume than HBAR.
HBAR's Supply Challenge
About 44 billion HBAR tokens are in circulation out of a maximum supply of 50 billion, resulting in a fully diluted valuation of $4.18 billion.
Solana Shows More Resilience
Solana has fallen less than HBAR over the past two weeks, with a 64.3% drop from its $293 peak.
HBAR Could Drop to $0.07
If HBAR stays below $0.10, it may drop back to the $0.07 range where it traded throughout the summer.
Key Price Target for HBAR
Traders are watching whether HBAR can close above $0.10 by the end of November to narrow the gap with Solana.
At a glance
Hedera's network activity rose 168% while HBAR fell 8% this week, but Solana remains the stronger investment due to higher market cap and trading volume.
