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While the crypto market remains largely negative, Hedera has announced key partnerships as its ecosystem records increased activity. The Telegram bot project BITBOT is attracting numerous integrations despite the recent bearish flip.
Here’s a look at some of these partnerships and integrations, with a note on how they could catalyse gains for HBAR and BITBOT tokens.
Hedera sees network growth
Despite a bearish price outlook, Hedera has shown strength in network activity. According to a recent report, Hedera’s revenue grew 26% in the second quarter.
Average daily transactions and new addresses also spiked 46% and 31% respectively during the same period. Meanwhile, Hedera recently crossed 60 billion main net transactions.
State of @Hedera Q2 2024 from @MessariCrypto has landed: ⬆️ Revenue in USD (+26%) ⬆️ Avg. Daily Transactions (+46%) ⬆️ Avg. Daily Account Creation (+31%) Read the latest report here 👇 messari.io/report/state-o…
While there have been huge deals in the past, the latest collaborations add to a crucial ecosystem sector. The alliances could spark upside momentum for Hedera’s native token.
The positive outlook relates to blockchain security firms Elliptic and Halborn’s integration of HBAR’s Stablecoin Studio.
Enterprises and institutions looking to accelerate adoption can now leverage the Stablecoin integration on Hedera as well as tap into the real-world (RWA) market with risk mitigation from the two blockchain security platforms.
BITBOT secures major integrations
Non-custodial Telegram trading bot BITBOT recently listed on decentralized exchange Uniswap and is on a spree of integrations as apps on the popular messaging platform tap into its features.
BITBOT is also on the Base chain and a poll on X showed the community favours expansion to Solana.
In just weeks since going live post its presale, BITBOT has announced partnerships with many of the top play-to-earn games on Telegram.
Although events around Pavel Durov, the founder and CEO of Telegram have impacted related coins such as Toncoin and Notcoin, analysts remain bullish.
BITBOT looks poised to make the most of its user-focused security approach and non-custodial wallet integration. Likely to catalyse the upside momentum for the project are partnerships.
There’s Coin Bunny, a top strategic social game on TON blockchain; Mars Launchpad, a decentralized token sales platform; and Bee Coin, a tap-to-earn game on Telegram.
HBAR and BITBOT price outlook
A look at the BITBOT price, the current value hovers around $0.009285.
The altcoin has traded lower since its debut on Uniswap. However, the last three days have seen BITBOT hold above $0.009 following an upward flip from support near $0.008.
While significantly lower compared to its DEX listing price, BITBOT is showing resilience amid the key integrations. The token is also yet to hit a top tier crypto exchange, where visibility and demand could catapult its price.
Hedera (HBAR) has struggled for upside momentum alongside other altcoins. The cryptocurrency’s latest lull comes as top coins shed gains amid selling pressure.
The downturn has seen HBAR price revisit a key downtrend line, which has constrained bulls since the dip from highs above $0.1 in early June.
Rejection at $0.06 this past week has price hovering at the key horizontal support level, below which Hedera price touched $0.048 when cryptocurrencies crashed alongside stocks on August 5, 2024.
Analysts say cryptocurrencies could rally again ahead amid potential catalysts such as interest rate cuts and the US election. In this case, HBAR may be worth a look at current prices.
The BITBOT token could also be a buy opportunity, particularly with AI and gaming huge narratives.
The post Hedera and BITBOT tokens eye bounce amid key partnerships appeared first on Invezz
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