Franklin

Solana

Arbitrum

Hedera

Stader

Hedera Hashgraph has experienced a significant downturn over the past five days, reaching a crucial support level amid ecosystem challenges. 
The price of Hedera Hashgraph (<a href="https://crypto.news/price/hedera/" target="_blank" rel="noreferrer noopener">HBAR</a>) has been in a steep sell-off after soaring to $0.1825 in April. It has sunk by 65% and is hovering at its lowest level this year. 
<h2 class="wp-block-heading" id="hedera-s-ecosystem-challenges">Hedera’s ecosystem challenges</h2> 
Hedera’s recent struggles stem from challenges within its ecosystem, particularly in key areas like gaming and decentralized finance. 
While Hedera is one of the largest cryptocurrencies, it has a modestly small ecosystem compared to its bigger peers like Solana (<a href="https://crypto.news/price/solana/" target="_blank" rel="noreferrer noopener">SOL</a>) and Arbitrum (ARB). In the DeFi space, Hedera has a <a href="https://defillama.com/chain/Hedera?currency=HBAR" target="_blank" rel="">total value locked</a> of just $58 million and 6 dApps.&nbsp; 
SaucerSwap, its largest decentralized exchange, holds less than $60 million in assets, while Stader has $29 million in staked assets and a $10 million stablecoin market cap. 
In contrast, Tron (<a href="https://crypto.news/price/tron/">TRX</a>) has $8.13 billion in assets, $58 billion in stablecoins, and 2.2 million active addresses. Solana, another significant chain, has 1.23 million addresses and $3.4 billion in assets.&nbsp; 
 You might also like: <a href="https://crypto.news/tron-surpasses-ethereum-and-solana-in-revenue-generated-in-the-past-24-hours/"> Tron surpasses Ethereum, Solana in revenue generated over past 24 hours </a> 
Hedera Hashgraph has succeeded in securing many high-profile companies to its governance council. Some of the most notable members are IBM, Nomura, Deutsche Telekom, Mondelez, and ServiceNow.&nbsp; 
Some of these companies are developing enterprise solutions using Hedera’s technology. For instance, Arbrdn, a financial company with over £496 billion in assets, is working on a tokenized asset similar to BUIDL or Franklin Templeton’s FOBXX. 
Australian Payments Plus is also <a href="https://hedera.com/blog/australian-payments-plus-ap-is-now-a-hedera-council-member" target="_blank" rel="">working on solutions</a> to ease money transfer using Hedera’s technology. However, most council members have not announced some of their Hedera projects.&nbsp; 
 You might also like: <a href="https://crypto.news/hedera-price-saudi-arabia-investment-250-million/"> Hedera price spikes 15% as Saudi Arabia government invests $250m </a> 
<h2 class="wp-block-heading" id="hedera-hashgraph-price-nears-a-make-or-break-level">Hedera Hashgraph price nears a make-or-break level</h2> 
<figure class="wp-block-image size-full">
 <picture loading="lazy" decoding="async" class="wp-image-14288926"> 
 <source type="image/webp" srcset="https://crypto.news/app/uploads/2024/08/Hedera-price.png.webp"> 
 <img loading="lazy" decoding="async" width="3574" height="1986" src="https://crypto.news/app/uploads/2024/08/Hedera-price.png" alt="Hedera Hashgraph price"> 
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 Hedera Hashgraph | Chart by <a href="https://www.tradingview.com/symbols/HBARUSD/?exchange=BINANCE" target="_blank" rel="">TradingView</a>
 </figcaption>
</figure> 
Hedera’s HBAR token formed a death cross pattern in June when the 50-day and 200-day Exponential Moving Averages made a bearish crossover. This pattern often hints at further declines, explaining why HBAR has dropped by 25% since then. 
HBAR is trading near the critical support level at $0.061, representing the lowest point it traded at in July. A break below this level could signal further downside, potentially invalidating the bullish double-bottom chart pattern. The next key level to watch would be $0.045, its lowest point in October last year, representing a 27% decline from Thursday’s level.

Hedera Hashgraph arrives at a key price amid ecosystem woes

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