Hedera Token Price Soars as Hashport Launches Mainnet HBAR Faucet
The Hedera ecosystem is on the cusp of a new era of growth and adoption, with the strategic development from Hashport, a native token bridge that has been a cornerstone of the network since 2021. With the announcement of the HBAR faucet launch, Hashport is poised to revolutionize the onboarding process for new users and developers, eliminating a significant barrier to entry and paving the way for a fresh wave of innovators and enthusiasts.
This innovative faucet, supported by the Hedera Foundation, offers a small but crucial amount of HBAR to cover initial network fees, enabling users to explore the full potential of the platform. As the first mainnet token faucet, it is poised to make a significant impact on the Hedera community.
The development has also had a substantial influence on the token price, which surged by about 6% just within a day. With the prevailing positive sentiment and favourable indicators, investors and analysts remain optimistic about the further growth of the HBAR token.
Hashport Launches Mainnet HBAR Faucet
Before hours, Hashport announced the introduction of the HBAR Faucet, a public utility designed to streamline the onboarding process for new users and developers, in collaboration with the Hedera Foundation. Hashport Business Head Jesse Whiteside stated,
“As the native bridge operator for Hedera, Hashport saw the need to simplify the process of onboarding new users. A simple & secure faucet is key to help the network welcome its next wave of users.”
Notably, the HBAR Faucet is the first of its kind on Hedera’s mainnet. This groundbreaking solution provides new users with a small amount of HBAR, equivalent to $0.25, to cover initial transaction fees, including token associations and DEX swaps, allowing them to seamlessly engage with the network’s powerful capabilities.
Introducing HashPass
Along with the HBAR Faucet launch, Hashport is also introducing HashPass, a cutting-edge Hedera account verification system. HashPass assigns a score to each Hedera account based on its on-chain activity, analyzing factors such as account age, transaction history, and interactions with NFTs and tokens. It helps standardize safe access to platforms within the Hedera ecosystem, protecting users from bot activity and ensuring a trustworthy user base for dApps and other platforms.
In addition, the platform has revamped its website to include a comprehensive resource hub, a move intended to further support the growth of Hedera. The “Getting Started on Hedera” section, accessible on the landing page, serves as a one-stop shop for new users. This hub provides easy access to essential tools, including the HBAR Fauset, popular Web3 wallets, and DeFi platforms across the Hedera network.
Significantly, these developments come on the heels of the Hedera mainnet upgrade which went live on September 24.
Ledger Support Hedera Tokens
In a parallel development, Ledger has announced its support for Hedera tokens. Users can now manage HTS tokens, including popular ones from SaucerSwapLabs, Gib, HashPackApp, KabilaApp, and Dovuofficial, directly through Ledger Live. This integration offers a secure and convenient way to store and manage Hedera tokens, providing users with peace of mind and easy access to their assets.
HBAR Price Soars
In response to these significant developments, the HBAR token has shown a notable surge of 5.8% over the last 24 hours, currently trading at $0.2225. Despite a 0.78% dip over the week, the token has surged by 3.7% in a month. The trading volume is also high, which is indicative of the growing popularity of the cryptocurrency among investors and traders. The 24-hour volume is currently marked at $310 million, up 33%.
Analyst STEPH IS CRYPTO believes that the HBAR crypto is testing life support, with the price targeting the next critical point at $0.0035. With the token now exhibiting a positive rally, the analyst’s prediction carries more weight. Investment giant Grayscale’s submission of Hedera ETF application has also significantly impact the HBAR price surge.
