Hedera's Q2 revenue saw a significant increase of almost 67%, despite HBAR's price being in the red. The network also experienced growth in active accounts and new account creations, which is good news for HBAR holders. Hedera has plans to achieve EVM equivalence, which will bring Solidity and Vyper smart contract functionality to the network. While Q3 presented its own challenges, HBAR's price indicators showed a mixed story but the network remained resilient.

Shinhan Bank collaborated with the SCB TechX department of Siam Commercial Bank and other financial institutions to complete a proof-of-concept pilot for stablecoin remittances based on the open-source proof-of-stake blockchain Hedera. The pilot achieved real-time settlement and exchange rate integration for Thai baht, New Taiwan dollar, and South Korean won, and was also compatible with EVM, meaning that any stablecoin issuer based on EVM can utilize this framework.

June 23 (Cointime) - Hedera's network activity remains healthy despite bearish market conditions, as evidenced by its recent milestone of surpassing 12 billion transactions. However, investor sentiment towards the native cryptocurrency HBAR remains low, with negative funding rates and higher short positions indicating a bearish outlook.

June 22 (Cointime) - Nilmini Rubin, the Chief of Staff and Head of Global Policy at Hedera, testified before the House Subcommittee on Commodity Markets, Digital Assets, and Rural Development about the future of digital assets and the impact of cryptocurrencies on the blockchain industry.

The Hedera blockchain achieved a significant milestone by surpassing 10 billion transactions, but its native cryptocurrency HBAR has struggled with low volumes.

StraitsX, a platform for digital asset payment services in Southeast Asia, has partnered exclusively with the Hedera network. As part of the collaboration, StraitsX's local XSGD token will now be supported on Hedera. The XSGD token has already gained considerable adoption since its launch in October 2020, with over 7 billion transfers on the chain, making it one of the largest non-USD stablecoins by market capitalization. The partnership with Hedera could lead to the XSGD token being listed on global crypto exchanges in the coming months. Hedera is a proof-of-stake network that combines high throughput, rapid finality, and low fees for transfers. The support provided by Hedera for XSGD is in line with the HBAR Foundation's objectives of providing resources to entrepreneurs to develop and deploy exclusive apps on Hedera. The launch of the XSGD token on Hedera is expected to enhance financial inclusion and value for the ecosystem of applications that provide real-time payments with the XSGD stablecoin.

COFRA, a long-standing family business with a global workforce of over 60,000 employees, has become a member of the Hedera Governing Council, bringing the total number of council members to 30. COFRA aims to develop blockchain-based solutions on Hedera, initially focusing on tokenization and enhancing transparency in their supply chain process. The company will utilize Hedera's Token Service to issue or tokenize real-world assets. With the recent addition of COFRA and Dell to the Hedera Governing Council, there is speculation that the price of HBAR could see a significant increase if the broader crypto market becomes bullish. Stay informed about the latest developments in the blockchain industry and Hedera Hashgraph (HBAR) by visiting our website. 

According to information obtained, it’s estimated that roughly $1.2 billion of HBAR tokens, worth $65 million, are scheduled to be released beginning June 1. This comes after 95 million HBARs were released on Saturday, which brought the total amount of released tokens to 62.68%.

Mastercard has migrated its app to the Hedera Hashgraph network, a blockchain-based platform that provides high-speed and secure transactions. The move is expected to provide Mastercard with greater flexibility and control over its operations, while also helping to drive adoption and usage of blockchain technology.

 Hedera’s “DeRec” protocol, which has been in development for some time now, is rumored to be released in the third quarter of this year.