HBAR trades 88% below peak, analyst cites supply as hurdle to recovery

HBAR, the native token of the Hedera network, is currently priced roughly 88% below its all-time high, according to recent analysis, positioning it ahead of many other major cryptocurrencies from the 2021 market cycle in terms of proximity to past records. However, this relative performance reflects the broader, ongoing weakness in the sector rather than robust strength for HBAR itself. The Cheeky Crypto YouTube channel, known for its market commentary, reviewed CoinMarketCap data from November 7, 2021, focusing on the 50 largest cryptocurrencies outside of stablecoins and wrapped tokens. Of these, 41 had declined by at least 80% from their record highs. The median decline stood at approximately 97%, highlighting a sweeping market downturn since late 2021.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to CoinTurk News.