Breaking Records: Hedera Hashgraph Achieves $13 Billion Transaction Volume, Tops DLT Charts

Adoption for Hedera continues to surge as the network advances its platform. Most recently, data from DLT charts revealed that the Hedera network has hit a significant transaction milestone.

It appears that more users are adopting the platform, as transaction volume has outperformed other rival networks significantly. Data from Arkhia metrics, a Web3 data and metrics platform, shows transactions on the network have skyrocketed above $13 billion. During the time of this report, transactions on the Hedera mainnet are sitting at a total of 13,124,050,254.

Additionally, transactions on the Hedera testnet have also surged to unprecedented levels. At report time, the Testnet has recorded over 1.2 billion transactions.

Taking to Twitter, the network shared the newly attained milestone with its 300,00 followers on the platform.

#Hedera: 13 Billion transactions

📊 pic.twitter.com/84xUY3Np9g

— Hedera (@hedera) July 5, 2023

Following the announcement, sentiments from community members have largely remained neutral. While some community members are certain that the new development has the potential to launch the Hedera (HBAR) token into a bullish rally, others are not quite convinced that HBAR will benefit from the achievement.

According to the leading blockchain research group House of Chimera, the upsurge in the network’s transaction volume can be traced back to the increase in the number of projects launching on HBAR. By design, these projects provide users with more utility on the network.

One user implied that the transactions are all bot transactions, explaining that Hedera is too small a community to hit such a milestone. Meanwhile, other users express concerns over the price of HBAR, which they expect to react positively to the news.

At report time, the HBAR token is trading for $0.04839. Over the last 24 hours, the asset has surged by 1.76%. Trading volume is currently reflecting a decline of 6.24%.

Hedera strikes new partnerships and sponsorships with other major platforms

The Hedera network is also scaling its operations by strengthening its connections with other networks. Recently, Hashpack Wallet, a leading wallet on the Hedera network, announced a sponsorship for the Arkhia metrics platform. Hash pack announced in a tweet:

Our partnership with Arkhia goes beyond just numbers.

They’re not only our mirror node provider but also an integral part of the Hedera eco.

As an Infrastructure-as-a-Service provider, they power decentralized technologies for mission-critical applications.

Meanwhile, the HBAR Foundation recently joined forces with RAK Digital Assets Oasis to empower entrepreneurs to build on the Hedera network. The collaboration will introduce a comprehensive grant program, expert support, and a thriving eco to scale innovation.

The HBAR foundation is a non-profit foundation that is primarily focused on raising awareness, accelerating access, and increasing commerce in the HBAR economy.

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