Hedera and Ripple Join Forces with MiCA Crypto Alliance: HBAR Poised for $1 Breakthrough!

Hedera has become a founding member of the MiCA Crypto Alliance alongside central industry members like Ripple and Aptos Foundation.

1/3 #Hedera is excited to join @Ripple and @Aptos Foundation as Founding Members of the MiCA Crypto Alliance, with technical support from DLT Science Foundation. 🔗To learn more or get involved: https://t.co/UJVxCzmXGH pic.twitter.com/f4L1rvu5ur

— Hedera (@hedera) September 16, 2024

Hedera’s Alliance with DLT Science Foundation

An alliance was formed in response to the European Union’s regulatory framework to bring more clarity and stability into the crypto sector. As Hedera joins this group, it will try to smooth out the compliance efforts in the industry since the demands of the regulatory agencies are met with less worry.

The DLT Science Foundation provides technical​​ backing for all these efforts from the DLT Science Foundation to Hedera. This alliance means so much, says Nilmini Rubin, Chief Policy Officer at Hedera, and positions them at the edge as the industry evolves.

Rubin said the involvement of Hedera means the latter shares its technical expertise while furthering the goals of increased transparency and a harmonized regulatory regime from the
Alliance.

Hedera Price Prediction

This has encouraged market analysts to be confident in their further proposal that HBAR could reach $0.083321 within the upcoming 30 days, which is 57.50% of its present value. However, such forecasts are still highly speculative and demand volatility, just like any other crypto market.

Looking ahead, predictions remain upbeat. The token is expected to close in 2024 at about $0.156, and most forecasts indicated that the correction could occur at the end of this year to about $0.122.

All the above predictions reflect higher optimism than was previously expected regarding the performance on the mainnet for HBAR, partially due to strategic partnerships and being at the forefront in ensuring regulatory compliance.

Advantages for Hedera and Ripple in the MiCA Crypto Alliance

The newly established MiCA Crypto Alliance prepares itself for four critical industry challenges: a lack of coordination across the industry, a lack of practitioner knowledge, increased overhead, and outdated practices led by the European Securities and Markets Authority (ESMA).

It offers many value-added services to its members, including advanced sustainability indicators, active participation in setting standards, full technical and strategic support, protection of legal liability, and the most sophisticated tools to create AI-driven white papers.

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This strategic development coincides with the forthcoming Singapore Hackathon, hosted by ETH Global from 20 to 22 September 2024. The event, which will feature a $10,000 prize pool jointly, will host competitions in three categories: Ecosystem Builder Bounty, EVM Starter Bounty, and Hedera-Native Services Starter Bounty.

Founding membership and Ripple and Aptos Foundation in MiCA Crypto Alliance will likely add value to the token and elevate Hedera’s reputation in the crypto world. This move clarifies everyone’s regulatory requirements and creates a more opportunistic in the industry.

Hedera Technical Analysis

The native cryptocurrency of Hedera, HBAR, has built upwards by 5.63% in the last 24-hour period to a current trading price of $0.05175. This positive uptick for HBAR reflects a broader optimism that sweeps into the cryptocurrency markets.

Within this uptrend, HBAR fans are fairly optimistic about its future: some even predict that the token will surge up to $1 very soon. Although such an achievement might sound too ambitious, Hedera’s recent strategic partnership agreements substantially support the community’s buoyancy.

Technical analysis indicates more bullishness, while the MACD histogram is still above the signal line. The MACD line, which is in blue, and the signal line, which is in orange, continue to gap further away, suggesting that more downside pressure can be exerted in the short term.

The market indicates that, with the massive surge in trading volume of 55.72% over the last 24 hours, prices are falling, and trading activities are increasing.

According to data provided by Coinglass, the number of traders has significantly increased, and its trading volume surged upward by 67.70% and reached $23.54 million. Meanwhile, Hedera’s open interest dropped by 2.43% and sat at $28.95 million, a number divergence that might mean a divided investor sentiment or a signal of market volatility.

Conclusion

Hedera’s alignment with the MiCA Crypto Alliance, alongside industry heavyweights like Ripple and Aptos Foundation, creates a high-water mark for the blockchain space in light of regulatory hurdles. With Hedera positioning itself at the center of compliance and transparency, market optimism in HBAR continues to climb.

These are ambitious predictions, including the one currently stated at $1. While Hedera is now positioned for growth with its strategic partnerships and increased market activity, it is still highly speculative. Last but not least, given that technical indicators are signaling a bright future, it will become clear whether the HBAR will continue to gain from this momentum and reach some of these projected milestones over the next few months.