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Active Currencies 14901
Market Cap $2,505,256,209,122.80
Bitcoin Share 51.23%
24h Market Cap Change $1.78

Hedera investors concerned about market drawdown should read this

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  • Hedera’s legal team moves to DC to cooperate with the government for crypto regulation
  • Its dApps witness growth, however, TVL continues to decline

Hedera’s legal team, due to all the FUD caused by the collapse of FTX, decided to go to DC to talk about crypto regulation. 


    Read Hedera’s price prediction 2022-2023


In a tweet posted by the official Hedera account on 16 November, it was stated that due to the recent events related to FTX, intense policy efforts will be made in DC.

Consequently, Hedera’s chief of staff Nilmini Rubin, and Sam Brylski, Hedera’s chief regulatory officer would be going to Washington this week to keep up with crypto regulations.

Hedera’s compliance with the government may be beneficial to its growth in the long term.

The dApp market

One area where Hedera did observe improvement was in terms of its dApps. Popular Hedera dApps such as SaucerSwap and HeliSwap witnessed improvements in terms of unique active users and volume.

As can be seen from the image below, the volume for HeliSwap grew tremendously over the past few days. Along with that, the number of unique active users increased by 70.73% in the last 30 days.

As for SushiSwap, it witnessed a growth of 79.02% in terms of volume and it also noted an uptick in terms of the number of transactions which grew by 19.1%, according to data provided by Dapp Radar.

Source: DappRadar

Despite the progress of Hedera’s dApps, its TVL continued to decline.

As can be seen from the image below, Hederas TVL depreciated over the past week. At press time the total value locked by Hedera was at $21.93 million according to DefiLlama.

Source: DefiLama

Along with a declining TVL, Hedera’s transaction value depreciated over the past few days. However, the number of new accounts created on the Hedera network continued to grow and appreciated by 9.73% over the last month, according to data provided by DRAGONGLASS.

Source: DRAGONGLASS

Even though Hedera managed to attract new accounts to its network, HBAR couldn’t escape the FUD surrounding the crypto market as its volatility grew massively over the past month. It increased by 61.79%, according to Messari

Source: Messari

At the time of writing, $HBAR was trading at $0.049 and its price had appreciated by 2.51% in the last 24 hours. And, its volume appreciated by 35% during the same time period.

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Saman Waris works as a News Editor at AMBCrypto. She has always been fascinated by how the tides of finance and technology shape communities across demographics. Cryptocurrencies are of particular interest to Saman, with much of her writing centered around understanding how ideas like Momentum and Greater Fool theories apply to altcoins, specifically, memecoins. A graduate in history, Saman worked the sports beat before diving into crypto. Prior to joining AMBCrypto 2 years ago, Saman was a News Editor at Sportskeeda. This was preceded by her stint as Editor-in-Chief at EssentiallySports.
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