Hedera transaction volume surges 10x in Q4 2024

Hedera's (CRYPTO:HBAR) transaction volume saw a remarkable tenfold increase in the fourth quarter of 2024, driven by the expanding global stablecoin market.

The on-chain activity for Hedera (HBAR) has surged significantly, with Total Value Locked (TVL) rising by over $160 million.

Daily on-chain volume also experienced a notable uptick, increasing from less than $1 million in early October to an average of over $10 million by December.

Despite this growth, Hedera's activity remains relatively low compared to other blockchain networks that boast TVL and volume figures in the billions.

Investor sentiment towards Hedera and HBAR has become increasingly optimistic, particularly as the global stablecoin market cap recently surpassed $212 billion and is projected to reach as high as $2.8 trillion by 2028.

A key factor contributing to Hedera's potential is its partnership with Worldpay, a major payment processor for global financial institutions like Mastercard, Visa, and Bank of America.

This relationship positions Hedera to benefit from increased stablecoin adoption and transaction volume.

While HBAR has shown limited sell-side pressure following its all-time high earlier in January, it did experience a pullback of just over 21%.

However, a resurgence in demand led to a 13% increase from its lowest point last week, with HBAR trading at approximately $0.354.

Current market dynamics indicate that while spot flows have shifted from negative to positive, overall bullish demand remains weak.

Derivatives volume has dipped significantly, suggesting that investors are holding onto their assets rather than actively trading.

Open Interest has seen a slight increase, indicating some level of sustained interest in HBAR despite the prevailing cautious sentiment among investors.

At the time of reporting, the Hedera (HBAR) price was $0.31.