HBAR to hit $100? Analyst identifies resource, market cap potential

Hedera's native cryptocurrency, HBAR, has piqued the interest of investors and cryptocurrency fans due to its remarkable recent performance and increased visibility in the blockchain sector.

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Ivy is HBAR A token, backed by major technology companies such as Google, IBM, and Boeing, has the potential to revolutionize decentralized finance. In the previous month, HBAR has increased by 430%, reaching a new peak of $0.392 and increasing its market capitalization to almost $13 billion.

Despite some skeptics, analysts believe that a $100 price tag for HBAR is within the realm of possibility, although it would require substantial growth both in market capitalization and real-world adoption.

🌐 MUST $HBAR WINNING $100? THE CASE FOR THE RUNNING OF THE GAILS

The crypto space is finally waking up to what Hedera Hashgraph and $HBAR bring to the table. But it can $HBAR really hit $100? We think so – and here's how it's completely feasible based on math, market cap, and real world… pic.twitter.com/zGtCN2EmU0

– Block Axis (@BlockAxis) December 8, 2024

HBAR growth potential

HBAR's rising trend is largely tied to its general stance cryptocurrency market. For the network to get a price point of $100, it would need a market value of $5 trillion, analysts said.

Although it may seem unbelievable, HBAR's ability to penetrate the $110 trillion global stock market and derivatives market seems even bigger when examined closely.

Segregated assets, supply chain management, and decentralized finance represent critical areas where Hedera's blockchain could generate value. The ability to implement these applications at scale, along with support from prominent corporations, positions HBAR as a strong competitor in the blockchain space.

Essential on-chain metrics

Hedera's latest online statistics show a mix of opportunity and challenge. Growth in customer engagement has led to a record high in volume on the chain at $68 million on December 3.

Although that was an increase, still, the Total Value locked on the network decreased from $211 million to $196 million. This decline indicates that although the network is active, investment in decentralized finance (DeFi) applications may be declining, or investors are reallocating funds elsewhere.

Institutional Support

Hedera is very different from many other cryptocurrencies that are based on the participation of various advanced, established companies, which are represented in its management council.

This gives HBAR a strong credibility boost over other decentralized tokens. As long as Hedera gets at least a fraction of the businesses these companies are associated with, demand for HBAR could rise.

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To achieve the ambitious goal of $100, Hedera must focus on increasing its ecosystem and continuously attracting developers and enterprises to build on its platform. A crucial part of this will be guaranteeing scalability, as Hedera can process 10,000 transactions per second. The scale, along with minimal transaction fees, makes it a very attractive option for global adoption.

While the $100 price target may appear ambitious, Hedera's strong fundamentals and cutting-edge technology, backed by prominent industry figures, make it a project worthy of attention. If the market continues to embrace decentralized finance and tokenized economies, HBAR may grow significantly in the coming years.

Featured image from Pixabay, chart from TradingView