As the market enters the new year, high-profile crypto traders are making bullish moves against one of Ethereum’s (ETH) competitors.
A pseudonymous trader known as Credible told his 335,000 Twitter followers that he expects Dollar Cost Average (DCA) from Hedera (HBAR).
“We are back to where we were last in our 12x run after almost 12 months of consolidation.
HBAR is the native token of the Hedera Hashgraph system and aims to make standard blockchain technology faster, more efficient, and more secure. It uses what is called the Gossip protocol and incorporates a directed acyclic graph (DAG) as the backbone of the system.
HBAR’s current market capitalization is just under $1 billion, with a maximum supply of 50 billion tokens and 25 billion currently in circulation.
Hedera has a higher maximum supply compared to commercial supply, but is reliable To tell If a bull market comes, it doesn’t matter.
“It doesn’t really matter IMO [in my opinion]People just want to justify the bearish PA [price action] And since they can’t refute that fundamentals, “bad tokenomics” is an easy alternative to shift the blame. “
Looking at Ethereum, Credible has set a short-term price target around $1,400, about 16% off the current price.
“We got the final pushdown and took a local low. We are now looking for a continuation to our first target. For more information, check out the video we made last week on our pinned tweet.”
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Generated image: In the middle of the journey