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Over the last 90 days, Hedera’s HBAR token has the best performance in the Cryptocurrency world. There is no digital currency that so far can keep up with this token and its performance of +642% in that period. If this pace is maintained, this crypto would reach the top 10 in market capitalization before the end of the year.
The possibilities are enormous, considering that the currency has enviable fundamentals. Hedera’s network is one of the most promising and offers great efficiency benefits to developers and users. Despite this, one should not overlook the fact that much of the token’s current rally has speculative components.
The latter means that a correction could affect investors in the short term. For the most optimistic, the price of the token will have no problem reaching $1 at the peak of the bull market. Although it seems like a distant goal now, it should not be ruled out, especially considering that the currency in 2019 reached $0.7.
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The ability to go up to limits close to $1 is there. In that sense, a large part of investors expect the Hedera token (HBAR) to reach the milestone in the short-term future. As a result of this, the coin would enter the top 10 of the largest in market capitalization.
HBAR market capitalization continues to rise. Source: CoinMarketCap
Hedera Token Prepares for Top 10
The possibility of HBAR reaching the top 10 in capitalization is enormous. In fact, an extension of the current rally for a few more days would be enough. At the time of writing this note, the price of the coin is $0.3258 and its capitalization exceeds $12.4 billion dollars. To reach the top 10, it would have to exceed AVAX’s capitalization of $20,362 million.
Assuming Avalanche’s coin doesn’t change, the HBAR token would need to rise to $0.41 to break into the top 10. That’s because its supply is 50 billion tokens, and a price of $0.41 multiplied by this supply allows it to surpass AVAX.
It should not be lost sight of that this mathematics does not always coincide with market performance. The latter is because numerous factors play in the market. In any case, the conditions seem set for the currency to reach the milestone of being among the largest in the world.
On the other hand, in the case of achieving new historical highs, the currency would climb enormously within the ranking. As already mentioned, it should be considered that there are strong speculative elements in the Hedera token rally. This could lead to profit taking that keeps the currency at its current market cap positions.
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