• Hedera [HBAR] saw a dramatic increase in volume and market capitalization on 20 January.
• The network’s on-chain measures, such as transactions per second and total value, have been rising at an impressive rate.
• DefiLlama statistics showed that Hedera had a $39.39 Total Valued Locked (TVL).
The recent surge of Hedera [HBAR] volume has been nothing short of spectacular. On 20 January, the crypto saw a dramatic increase in volume and market capitalization, with its market capitalization increasing by more than threefold in the last day. According to Santiment, there was a 30% rise in HBAR volume when compared to other altcoins on the chart, and data from Coin Market Cap showed that its volume has increased by almost 110% in the past 24 hours. Furthermore, the price of Hedera had its most significant upward swing since the cryptocurrency’s uptrend started.
The Hedera network’s on-chain measures have also been on the rise, with over 40 million transactions having been processed to date. According to Metrika’s data, there have been over 26,000 smart contracts deployed on Hedera, in addition to transaction information. This has had a positive effect on Total Valued Locked (TVL), with DefiLlama statistics showing that Hedera had a $39.39 TVL at the time of writing.
The impressive developments that have taken place on the Hedera network could be a sign of great things to come. Hedera is continuing to expand its presence in the crypto space, and the recent surge in volume and market capitalization is evidence of its increasing popularity. With the increasing number of smart contracts deployed on the chain, the rise of TVL, and the continued growth in transactions per second, Hedera is set to continue its upward trajectory in the coming months.