Hedera’s increase in transaction speed may have this effect on the price of HBAR

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The honor The network recently tweeted an update about the higher transaction speed compared to its crypto competitors. On October 30, Hedera’s official Twitter handle highlighted that Hedera’s transaction speed of 49.55 TPS was ranked third. Grid was just below Solana [SOL] and excellent [XLM] In this regard.

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Here AMBCryptos Hedera Price Forecast [HBAR] For 2022-2023

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Life in the fast lane

Hedera Network also highlighted that it was able to compete for many cryptocurrencies on the TPS front. These networks were Polygon [MATIC] and Algorand [ALGO]. Despite its impressive transaction speed, Hedera did not perform well in other areas.

For example, Hedera’s volume has shown a lot of volatility over the past seven days. Moreover, its total volume has decreased by 66% in the past week. Market capitalization also continued to decline, declining by 7.36% over the same time period. At the time of this news release, Hedira was captured 0.16% of the total cryptocurrency market.

But despite the decrease in volume and market value, volatility was low and decreased with 40% over the past month. This may indicate that it will be less risky for investors to buy Hbar At the time of writing.

Source: messari

But despite the disadvantages of HBAR in these areas honor The network can work well in the DeFi space. As can be seen from the image below, Hederas TVL has shown impressive growth in recent weeks.

At the time of writing, Hederas TVL is worth $19.83 million and is up 3.06% in the last 24 hours.

Source: DeFiLlama

Despite the positive development of honor In the DeFi space, it can’t work well in the dApp space. additional, According to information from DappRadarThe best dApps on the Hedera network, such as the saucer And the Helly Swap Not a positive week.

The number of SaucerSwap’s unique active users decreased by 3.21% and during the same period HeliSwap’s unique active users were written off by 14.97%. However, the decline in interest on dApp did not slow the growth of HBAR prices. At the time of writing, HBAR prices are up 3.03% in the last 24 hours.

Its volume increased by 40% over the same period of time. Develop like Hedera network Halloween event It may also be one of the reasons for the recent rise in HBAR.

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