Hedera (HBAR) Smashes Through 19 Billion Transactions

Summary

• Hedera has surpassed an astounding 19 billion transactions on its mainnet.
• The achievement follows an impressive milestone of $35 million in Total Value Locked (TVL) and 18 billion transactions.
• Hedera’s native token $HBAR is currrently trading at $0.0556.

Decentralized open-source network, Hedera, has accomplished a significant milestone by surpassing an astounding 19 billion transactions on its mainnet.

Hedera stands out as an EVM-compatible Layer1 blockchain, employing the innovative hashgraph consensus mechanism to provide users with fast transaction speeds and low fees.

Despite the recent downturn in the cryptocurrency market, Hedera continues to demonstrate its resilience and growth trajectory. Notably, the network recently achieved the impressive milestone of $35 million in Total Value Locked (TVL) and successfully processed 18 billion transactions. This remarkable achievement highlights the strength and appeal of the Hedera ecosystem.

The month of August brought a flurry of exciting updates for Hedera, solidifying its position as a technology leader. The network reached a pivotal moment as the Hedera-based payments application “Dropp” was integrated into FedNow - an instant payments platform developed by the US Federal Reserve. Automotive giants Hyundai and Kia also made headlines by embracing the network and introducing a cutting-edge CO2 emissions tracking system, demonstrating the network's real-world impact and versatility.

At the time of writing, Hedera’s native token $HBAR is trading at $0.0556, having shedded 4.39% in the past 24 hours, according to data from CoinMarketCap.