Non-fungible tokens (NFTs) have ebbed and flowed in popularity throughout 2021. With the recent resurgence in NFT popularity though, it looks like the token class stands to finish out the year very strong. Millions of dollars are flooding into the space as investors flock to the industry as a digital art play. Likewise, blockchain networks are working quickly to add NFT capabilities to their own chains in an attempt to gather some of that market share. Hedera Hashgraph (CCC:HBAR-USD) is one of the newest networks to pull a move like this. Now, the HBAR coin is blooming, and investors are seeking out Hedera Hashgraph price predictions.
Hedera Hashgraph is a network whose efforts focus primarily on DApp creation. It uses a technology that it dubs “hashgraphs,” rather than a blockchain in the traditional sense. It also focuses on trust-building between network and user, emphasizing its low cost to use and its fraud-mitigation technology.
The network is currently awash with optimistic investors thanks to an announcement it made via Twitter earlier this month. See, back in April, a blockchain developer suggested an upgrade to the Hedera network. This proposal, submitted under the name “HIP-17” called for NFT support on the Hedera network. This was during the first NFT boom of 2021, and NFTs were extremely hot at the time. Of course, through the summer, the hype died out significantly. Around the beginning of August, buyers were beginning to once again scoop up NFTs as a store-of-value play.
Then, on Sept. 2, Hedera announced that it has brought the HIP-17 protocol upgrade to the network. Now, users can mint their own NFTs, and those who mint tokens are able to set their own custom HBAR transaction fees.
Hedera Hashgraph Price Predictions Heat Up With New NFT Play
The upgrade comes at a perfect time. Ethereum (CCC:ETH-USD) has long dominated the NFT market, so whenever the trend picks back up, ETH is the coin that always stands to gain. However, more and more networks are moving into the space; Solana (CCC:SOL-USD) and Internet Computer (CCC:ICP-USD) are two of the most notable cases, but Cardano’s (CCC:ADA-USD) Alonzo Purple upgrade adds it to the pack as well. But where is the HBAR coin set to go with this news? Let’s take a look at some Hedera Hashgraph price predictions and see what the analysts think:
- Coin Quora predicts that by next year, the HBAR crypto could surge from its current 42-cent value to $2.50.
- A much less bullish WalletInvestor predicts that by September of 2022, the coin will appreciate to just 63 cents.
- Gov Capital predicts that in the same timeframe, HBAR will grow to about 96 cents.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
