According to Messari, the performance of Hedera in the third quarter this year defied the prevailing market mood and is currently witnessing growth not seen on other protocols. DefiLlama claims that the protocol’s TVL increased by an impressive 137%. For comparison, Hedera’s quarterly network expansion occurred during a period when other networks were contracting. In addition to boosting the value of its native coin HBAR, this quarterly report also helped it do so in the past few days. As of this writing, HBAR is trading at $0.060236, down 3.7 percent in the last seven days, data from Coingecko show, Wednesday. Related Reading: Stellar (XLM) Could Grow Dim This Week, But Buyers Don’t Need To Back Down Based on data, we can see that while HBAR’s value decreased on weekly and biweekly timescales, these losses are totally wiped out when looking at the cryptocurrency’s price over a 24-hour period or an entire month. This bodes well for the network’s investor confidence. Hedera On Solid Footing Investors and dealers were impressed by the network’s rapid expansion because it ran counter to the existing bear market trend. While comparable networks experienced user declines during the quarter, Hedera saw no such trend. The report states that the network’s weekly active user base increased from 7,598 in Q2 to 14,601 in Q3. This represented a rise in the metric of 92.2%. More good news in terms ...
