The US government has included an altcoin project among 150 companies committed to advancing human rights, transparency and sustainability using blockchain technology. The impact of the development on the price was positive as expected.
This altcoin project has landed on the US government’s radar
According to a press release shared by the US State Department, Hedera (HBAR) has been recognized as one of 150 companies that have pledged to advance democracy. Hedera is particularly well-known for his efforts to bring together thought leaders and use Blockchain technology to advance human rights.
According to the update, Hedera will coordinate the role of Blockchain by inviting companies, trade associations, advocacy groups, academics and government officials. It will also share a summary of developments with the public and make recommendations for next steps.
Hedera describes it as one of the most funded, sustainable and enterprise-grade public networks for the decentralized economy, allowing individuals and businesses to build powerful decentralized applications. The protocol counts many of its governing council members among the top tech firms. After the latest support from the US government, it aims to meet expectations in terms of price.
Hedera price is on a steady rise
HBAR price gained more than 6% after the above news. At this time, the Bitcoin, Ethereum and altcoin markets were generally moving sideways. HBAR price peaked at $0.06871 from an intraday low of $0.06221. Overall, the news had a positive impact on the price of around 7%.
HBAR in steady trend despite flat altcoin market
Hedera Hashgraph is at the forefront as an open-source platform run by some of the world’s largest companies, including Google, Boeing, Dell, and Ubisoft. The data compiled on the website shows that it has over 1.9 million mainnet accounts and has helped handle more than 11 million transactions in the last 24 hours.
Unlike Ethereum, which costs over $10 per transaction, Hedera averages $0.01. The average consensus time is about 5.6 seconds. In a recent note, the developers stated that Hedera’s mainnet also processed 6 billion transactions. This momentum supports the altcoin in a stable trend in terms of price as well…
The main catalyst for the HBAR price was the rise of Bitcoin despite the regulatory scrutiny in the industry. BTC jumped to $28,885, the highest point of this year. Historically, altcoins like Hedera tend to attract attention and buyers as Bitcoin rises. This rally is notable because within a week, US regulators sued Binance, the world’s largest cryptocurrency exchange. cryptocoin.com We have included the latest developments from the case in this article.
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