Home Altcoins News Hedera’s Transaction Volume Surges 10x in Q4 2024

Hedera’s Transaction Volume Surges 10x in Q4 2024

Hederas Transaction Volume

Hedera’s blockchain network experienced a dramatic increase in transaction volume, with figures rising by an astounding 10 times. This growth, which has caught the attention of investors and analysts alike, can be attributed to several key factors, including the rising global demand for stablecoins and a strategic partnership that could propel Hedera into a central role in the future of digital finance.

A Historic Surge in Hedera’s On-Chain Activity

Hedera’s impressive Q4 performance is marked by a significant surge in its total value locked (TVL), which increased by more than $160 million. TVL, a key indicator of the total value of assets staked or deposited into decentralized finance (DeFi) applications, is often seen as a reflection of a blockchain’s growing ecosystem and overall health.

However, it wasn’t just TVL that saw a boost—Hedera also recorded an extraordinary rise in daily transaction volumes. In early October 2024, the network’s daily transaction volume was barely touching $1 million. By December, this figure had surged to over $10 million per day, representing a massive growth in activity on the Hedera network.

Despite these impressive figures, Hedera’s transaction volume still lags behind larger blockchain networks, which boast TVL and daily volumes in the billions. Nonetheless, the recent surge is a clear indication of the growing optimism surrounding the network, and more specifically, the Hedera Token (HBAR), which powers the ecosystem.

The Growing Stablecoin Market: Hedera’s Key Opportunity

One of the most significant drivers behind Hedera’s recent growth is its potential to tap into the booming stablecoin market. Stablecoins, which are digital currencies pegged to stable assets like the US dollar, have experienced explosive growth in recent years. The global stablecoin market cap recently hit a new all-time high, surpassing $212 billion. Projections suggest that this figure could surge to $2.8 trillion by 2028.

Stablecoins offer a stable alternative to the volatile nature of other cryptocurrencies, making them highly attractive to investors, businesses, and financial institutions. As demand for stablecoins continues to soar, blockchain networks that facilitate stablecoin transactions stand to benefit significantly.

Hedera is in a prime position to capitalize on this trend. The blockchain network has a strategic partnership with Worldpay, a major global payment processor that handles transactions for some of the world’s largest financial institutions, including Mastercard, Visa, Wells Fargo, and Bank of America.

Worldpay’s integration with Hedera enables the network to process large-scale financial transactions at lightning speed and low cost. With stablecoin adoption continuing to grow, more transactions are likely to flow through Hedera’s blockchain, bringing with them both new users and significant financial value.

HBAR Price Movement: Optimism with Limited Sell Pressure

HBAR, Hedera’s native cryptocurrency, has demonstrated a relatively stable price performance, despite broader market fluctuations. After reaching a historic all-time high (ATH) on January 17, 2025, HBAR saw a modest pullback, dipping just over 21%. However, the decline was short-lived, with the price rebounding by 13% by January 23, 2025, signaling a resurgence in bullish momentum.

Interestingly, while the cryptocurrency market as a whole has experienced significant volatility, HBAR has shown limited sell-side pressure. This suggests that many investors are holding onto their coins, rather than liquidating them in anticipation of further price gains. The relatively low downside risk is a positive sign for the long-term stability of the cryptocurrency.

That said, bullish demand for HBAR has been somewhat restrained in recent weeks. The volume of spot trades has remained relatively weak, and the derivatives market saw a dip, with the total volume for HBAR futures contracts falling to $345.17 million—the lowest recorded since mid-January.

Despite these factors, there is still cautious optimism around HBAR’s prospects. Open Interest, which measures the total value of outstanding derivative contracts, saw a modest increase of 4.65% to $421.59 million in the past 24 hours. This suggests that investor confidence remains intact, even as bullish momentum slows.

Stablecoin Growth: Hedera’s Path to the Future

Looking ahead, the continued growth of the stablecoin market is likely to be a significant factor in Hedera’s ongoing success. With stablecoins projected to dominate the digital currency landscape over the next decade, Hedera’s low-cost, high-speed blockchain could become a go-to platform for stablecoin transactions and decentralized finance applications.

The partnership with Worldpay only strengthens Hedera’s position as a key player in the future of digital payments. As more financial institutions and businesses embrace stablecoins for their transactional needs, Hedera could see its transaction volume—and by extension, HBAR’s value—grow exponentially.

While HBAR’s price movement has been relatively modest recently, the long-term outlook is promising, especially as demand for stablecoins continues to surge. Hedera’s unique position in the blockchain ecosystem, coupled with its strategic alliances, places it in an excellent position to ride the wave of stablecoin growth over the next few years.

Conclusion: What’s Next for Hedera?

Hedera’s significant surge in transaction volume during Q4 2024 is just the beginning of what could be a transformative year for the blockchain network. As the global stablecoin market expands, Hedera’s partnerships with industry giants like Worldpay could see it playing an increasingly important role in the future of finance.

With HBAR showing signs of resilience in a volatile market and stablecoin adoption set to rise exponentially, Hedera is well-positioned to capitalize on this growing trend. While challenges remain, the network’s prospects are brighter than ever, and investors are paying close attention to what comes next for this emerging blockchain powerhouse.

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Maheen Hernandez

A finance graduate, Maheen Hernandez has been drawn to cryptocurrencies ever since Bitcoin first emerged in 2009. Nearly a decade later, Maheen is actively working to spread awareness about cryptocurrencies as well as their impact on the traditional currencies. Appreciate the work? Send a tip to: 0x75395Ea9a42d2742E8d0C798068DeF3590C5Faa5

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