The cryptocurrency Hedera’s native HBAR token has been on a tear since launching. The top 50 cryptocurrencies by market capitalization, it has seen their value increase by 11% in the past week and over 10% today. This is seen as an indication of investors’ confidence in the company’s ability to solve blockchain scaling problems.
According to the market cap of the top 50 cryptocurrencies, HBAR outperformed its peers in the past 24 hours.
A global digital vault called Tejouri, developed by the HBAR Foundation was launched on the Hedera network by the Dubai International Financial Centre (DIFC) Courts on Thursday. As one of the first applications available on the network, Tejouri is a global digital vault that enables real-time settlements and record-keeping for disputes by providing reliable, permanent, tamper-proof evidence.
We’re excited to announce that the UAE’s @DIFCCourts have launched their global digital vault, @Tejouri_, at @GITEX_GLOBAL 2022. This unique platform functions simultaneously as a cloud vault and an online safe for data 🇦🇪 #GITEX2022 pic.twitter.com/9XickO93m1
— The HBAR Foundation (Accelerating Hedera) (@HBAR_foundation) October 11, 2022
Tejouri, a platform offered by HBAR Foundation, will enable users to upload and securely store documents, such as insurance contracts, title deeds, wills, financial certificates, images, and multimedia.
A recent slump in the cryptocurrency market is slowly being reversed as HBAR rises. Over the past 24 hours, the total crypto market cap has increased by less than 1% to $923 billion.
Currently, Bitcoin is trading above $19k and up less than 1% today. While Ethereum has gained less than 1% in the last 24 hours, it continues to struggle to surpass the $1,300 resistance level.
Keeping an eye on the key levels
Hedera has been performing well over the past few hours, resulting in a bullish HBAR/USD 4-hour chart.
Earlier today, the MACD line crossed into the positive zone, indicating that the bulls are in control of the Hedera market.
If the momentum continues, HBAR could enter the overbought region in the coming hours or days, based on its 14-day relative strength index of 66.
As of press time, HBAR is trading at $0.06344. By the end of the day, HBAR is likely to surpass the first major resistance level at $0.07426 if the bulls remain in control. For it to surpass the $0.08271 resistance level for the first time since August, the broader market must support it.
The best places to buy right now
Binance
There are many cryptocurrency exchanges in the world, but Binance is among the largest. There are over 600 cryptocurrencies to choose from, which makes it more suitable for experienced investors. Furthermore, Binance is known for having low trading fees and a variety of trading options that its users can use, such as peer-to-peer trading, margin trading, and spot trading.
KuCoin
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