HBAR Crypto News: Hedera Records Massive Jump In TVL

Hedera’s Growing DeFi Activity

Pangolin, which describes itself as a multichain decentralized digital assets exchange, just made the announcement that it has surpassed $8 million in TVL; $3 million out of which took place in the past four days. According to Defillama, Pangolin has seen a rise of 6% in the past 24 hours while witnessing a staggering 170% jump in the past seven days.

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After a successful third quarter, Hedera’s fundamentals have continued to show signs of improvement. During the last three months, not only TVL but also the transfer volume and transaction count for Hedera both climbed by 123% and 70%, respectively. In addition to these, Hedera benefited from the launch of a number of projects, such as Zoop, Clout.art, Numbers & RoadCode, and a great deal of other businesses.

Hedera (HBAR) Price Action

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All of these reasons have correlated rather well with the recent surge in the price of Hedera (HBAR), which has increased by more than 85% in the past ninety days. In the event that central banks adopt a more dovish stance and there are no further black swan events in the crypto market, it could trigger a bullish momentum for HBAR.

A bullish scenario would emerge if Hedera announced the addition of a 28th member to their governing council, which already includes major corporations like as Google, Boeing, LG, IBM, Dell, and others. If yet another prominent name is revealed, HBAR might likely mount a comeback to surpass its earlier high and surge towards creating a new peak price; much like it did when the names of prior council members were revealed.

As things currently stand, the price of Hedera (HBAR) is presently exchanging hands at $0.086. According to the crypto market tracker at CoinGape, this implies a drop of 1.87% over the last day as opposed to a jump of 5.89% over the previous seven days.

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