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HBAR is the best performing cryptocurrency among the top 50 cryptocurrencies by market cap in the last 24 hours.
HBAR, the native coin of the Hedera blockchain, has been the best performer among the top 50 cryptocurrencies by market cap over the last few hours. Its value is currently up by more than 9% and could rise further in the next few hours.
The rise comes after the HBAR Foundation, the development team behind the Hedera blockchain, announced that the Dubai International Financial Center (DIFC) Court has launched Tejouri, a global digital vault on the Hedera network. .
United Arab Emirates @DIFCCourts Launching a global digital vault, @handy_and @GITEX_GLOBAL 2022. This unique platform works simultaneously as a cloud vault and an online vault for your data #GITEX2022 pic.twitter.com/9XickO93m1
The HBAR Foundation (Accelerating Hedera) (@HBAR_foundation) October 11, 2022
The HBAR Foundation says the Tejouri platform will allow users to upload and securely store documents such as insurance policies, title deeds, wills, financial certificates, images and multimedia files.
HBAR’s rise comes as the broader cryptocurrency market slowly recovers from the recent recession.The total market capitalization of cryptocurrencies is $923 billion, an increase of less than 1% over the past 24 hours.
Bitcoin continues to trade above $19,000, up less than 1% to date. Ether continues to struggle to surge above the $1,300 resistance level, even though he has risen less than 1% in the last 24 hours.
The HBAR/USD 4-hour chart has turned bullish as Hedera has performed well over the past few hours.
The MACD line crossed into the positive zone a few hours ago. This shows that the bulls are dominating the Hedera market at the moment.
A 14-day Relative Strength Index of 66 indicates that HBAR could enter overbought territory in the next few hours or days if momentum continues.
At the time of writing, HBAR is trading at $0.06344 per coin. If the bull market continues, HBAR is likely to break above the first major resistance level at $0.07426 by the end of the day. However, broader market support is needed to break above the $0.08271 resistance level for the first time since August.
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