News of the high-profile partnership between SpaceX and Hedera Hashgraph sent shockwaves through the market, as the ecosystem’s altcoin HBAR hit a new high this year. After more than six months of bearishness, HBAR has broken through $0.1552 for the first time since April 24, 2024, when BlackRock’s money market fund (MMF) was launched on Hedera’s distributed ledger platform.
According to sources familiar with the matter, HBAR appears to be gearing up for an ambitious space journey. SpaceX is expected to launch a satellite in January 2025, incorporating a number of blockchain-based features, including the ability to process cryptocurrency payments. Meanwhile, HBAR’s price has surged more than 100% in just seven days, with a combination of factors contributing to the surge.
Is HBAR really ready to “take off” into space?
The first news about the project came from Swiss media, when Cardano (ADA) founder Charles Hoskinson visited Elon Musk’s SpaceX headquarters. A member of the Decentralized Recovery Coalition (DeRec), Hoskinson shared that the satellite powered by Hedera aims to redefine payment transactions on a global and space scale, and will play a key role in the future colonization of Mars.
With the ability to process up to 10,000 transactions per second – far surpassing Bitcoin (BTC) and Ethereum (ETH) – HBAR is known as a lightning-speed transaction solution, bringing outstanding advantages in the field of blockchain and decentralized finance.
