FedNow, developed by the FED as an instant payment system, has added the payment platform Dropp, developed on Hedera, to its list of service providers. Following the development of FedNow, HBAR quickly rose to become the highest-gaining cryptocurrency of the day in terms of percentage, recording double-digit value increases within hours and surpassing a market value of 2 billion dollars.
The cryptocurrency market started the first day of the new week with low volatility as the leading cryptocurrency, Bitcoin, continued to consolidate around the $29,000 level. There were no sharp price movements in most high-market-cap cryptocurrencies throughout the day. However, HBAR experienced significant value increases despite the low volatility in the cryptocurrency market, following the FedNow development.
FedNow, developed by the FED as an instant payment system, added the payment platform Dropp, developed on Hedera, to its list of service providers. The addition of Dropp as a service provider to FedNow resulted in double-digit value increases for HBAR within hours.
Hedera (HBAR), which initiated a strong surge with the FedNow development, reached price levels of $0.065, recording a value increase of over 15% within hours. With these recent value increases, HBAR became the highest-gaining cryptocurrency of the day in terms of percentage among the top 100 cryptocurrencies according to CoinMarketCap (CMC) data.
Despite the low volatility in the cryptocurrency market, HBAR experienced a significant increase in trading volumes during the day. The market value of HBAR surpassed 2 billion dollars within hours after the recorded increases.