HBAR Skyrockets as FedNow Embraces Hedera-Based Dropp
Originally Published 2 years ago — by CoinDesk
The price of Hedera Hashgraph's HBAR token has surged over 15% after the U.S. Federal Reserve's instant payments platform, FedNow, added Dropp, a Hedera-based micropayments platform, as a service provider. Dropp allows merchants to accept small-value purchases digitally without large transaction fees. This move has contributed to HBAR's overall increase of nearly 50% since mid-June, with the token's market cap surpassing $2.1 billion. Hedera Hashgraph's unique blockchain structure, utilizing hashgraph consensus, enables high transaction speeds and low-latency finality. The platform has experienced significant growth in daily active accounts and new account creations, driven by NFTs and DeFi. Hedera has also seen integration with other platforms and completed a stablecoin remittance proof-of-concept pilot.