FedNow Integrates Hedera Hashgraph’s Dropp, HBAR Price Skyrockets

Crypto News,Integration with the US Federal Reserve’s Instant Payment System, The US Federal Reserve’s FedNow, has ushered in Dropp, a micropayments platform anchored on Hedera Hashgraph.

FedNow Integrates Hedera Hashgraph’s Dropp, HBAR Price Skyrockets

With Dropp’s integration, micropayments, including those in HBAR, USD, and USDC, become feasible. The consequence of this alliance was immediate: Hedera (HBAR) witnessed its price catapulting by 15%.

Broader Implications for Banks and Financial Entities

The fresh onboarding of Dropp implies that banking institutions and assorted financial entities, aiming to harness micropayments, now have a green light to use Hedera’s Dropp.

This not only means real-time payments via FedNow but also indirectly elevates Hedera’s stature, making it a beneficiary of support from conventional financial powerhouses. Hedera’s relevance is also palpable in other spheres; for instance, giants like Hyundai and Kia recently adopted a Hedera-centric system to keep tabs on carbon emissions.

Hedera’s Price Movement and Market Response

Post the news about FedNow‘s endorsement of the Hedera-anchored Dropp, Hedera (HBAR) experienced a soaring price, clocking a commendable 15% upswing. The past month has been favorable for Hedera, registering a price swell of nearly 25%, largely buoyed by new collaborations.

Presently, HBAR’s trading metrics stand at $0.064, with noticeable fluctuations between $0.055 and $0.065 in the past 24 hours. Trading volumes, too, have shot up by 550%, suggesting a heightened trading fervor. As HBAR shatters multiple resistance levels, a breakthrough past the $0.066 resistance could usher in more bullish trajectories.