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What is Wrapped HBAR (WHBAR)?

Wrapped HBAR basic info

Name:Wrapped HBAR
Ticker:
WHBARBuy now
Introduction:

About Wrapped HBAR

Wrapped HBAR (WHBAR) is a tokenized version of Hedera on Ethereum. It represents Hedera in a 1:1 ratio, where each WHBAR token is backed by an equal amount of Hedera held in reserve by custodians. The primary purpose of WHBAR is to enable Hedera holders to access the world of DeFi. Since Ethereum has become more popular in decentralized finance, a significant portion of DeFi applications, protocols, and services are built on its blockchain. By wrapping Hedera in an ERC-20 token format, it becomes compatible with the Ethereum network, opening up a multitude of possibilities for the holders.

Hedera is a public network that leverages the hashgraph consensus algorithm to enable fast, fair, and secure transactions. Unlike traditional blockchain technology, Hedera doesn't form a single chain of blocks but instead weaves all transactions into a single whole, ensuring that no data is discarded. This innovative approach allows Hedera to process hundreds of thousands of transactions per second, with consensus latency measured in seconds, making it one of the most efficient and scalable platforms in the distributed ledger space.

Hedera was founded in 2017 by American technologists Leemon Baird and Mance Harmon, who also launched Swirlds Labs. Both founders possess extensive experience in the software development and tech industry, with expertise spanning AI, security, defense, identity, and more. As of August 2023, the Hedera network processes 66,670,036 transactions per day, with an average transaction time of 5.64 seconds.

Resources

Whitepaper: https://hedera.com/hh_whitepaper_v2.1-20200815.pdf

Official website: https://hedera.com/

How Does Wrapped HBAR Work

Hedera leverages the hashgraph consensus algorithm to enable a decentralized network capable of processing hundreds of thousands of transactions per second. Unlike traditional blockchain, where blocks can be discarded, Hedera incorporates every container of transactions into the ledger, ensuring efficiency and fairness. The system's asynchronous Byzantine Fault Tolerance (aBFT) provides robust security, including resilience to Distributed Denial of Service (DDoS) attacks, and ensures fair access and ordering of transactions.

The governance of Hedera is overseen by a council of up to 39 leading global enterprises, reflecting a diverse range of industries and geographies. This decentralized governance structure ensures that no single member has control, and no small group can exert undue influence. Stability is further ensured through technical controls that validate the pedigree of the ledger and legal controls that prevent unauthorized forks, providing a stable platform for mainstream adoption.

Hedera also emphasizes regulatory compliance, with features like controlled mutability of the network state and the ability to attach additional data to transactions. These features enable compliance with regulations like GDPR and facilitate Know Your Customer (KYC) and Anti Money Laundering (AML) checks. While not open source, Hedera's code is publicly available for review, ensuring transparency and stability through the defensive use of hashgraph software patents.

Conclusion

Wrapped HBAR stands as a significant innovation, bridging Hedera's unique hashgraph technology with the thriving world of Ethereum's DeFi. By ensuring a 1:1 ratio and compatibility with the Ethereum network, WHBAR has unlocked new possibilities and enhanced interoperability in the blockchain space

It's important to note that like any other cryptocurrencies, Wrapped HBAR carries its own risks and it's always wise to do your own research and exercise caution while investing.

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Current price:
All-time high:$0.1795
All-time low:$0.04176

WHBAR supply and tokenomics

Circulating supply:211,564,260 WHBAR
Total supply:50,000,000,000 WHBAR
Max supply:50,000,000,000 WHBAR
Market cap:$32.55M
Fully diluted market cap:$7.69B

Links

Buy Wrapped HBAR for $1Buy WHBAR now

What is the development prospect and future value of WHBAR?

The market value of WHBAR currently stands at $32.55M, and its market ranking is #9992. The value of WHBAR is not widely recognized by the market. When the bull market comes, the market value of WHBAR may have great growth potential.

As a new type of currency with innovative technology and unique use cases, WHBAR has broad market potential and significant room for development. The distinctiveness and appeal of WHBAR may attract the interest of specific groups, thereby driving up its market value.

What will the price of WHBAR be in 2025?
Based on WHBAR's historical price performance prediction model, the price of WHBAR is projected to reach $0.08279 in 2025.
What will the price of WHBAR be in 2030?
In 2030, the WHBAR price is expected to change by -16.00%. By the end of 2030, the WHBAR price is projected to reach $0.1041, with a cumulative ROI of +14.11%.
Reminder: Just like all cryptocurrency investments, investors must closely monitor the market performance of WHBAR and be aware of the associated risks. The world of cryptocurrencies is full of uncertainties, so thorough research and preparation are essential.

Is WHBAR worth investing or holding? How to buy WHBAR from a crypto exchange?

If you want to buy WHBAR, the following information may be helpful for your investment decisions:
In the last seven days, the price of WHBAR has risen by 169.51%, leading to positive returns for most WHBAR investors. The market is currently optimistic about the price trend of WHBAR.
It is important to note that the current price of WHBAR has retreated by -14.30% from its all-time high. This coin is currently considered medium-risk, and its price may rebound or continue to fall.
Additionally, it's important to understand that each coin has its own optimal times for buying and selling. The optimal time to invest is dynamic: when a coin is undervalued, it's wise to adopt a buying strategy; when it becomes overvalued, you should decisively sell the coin.
To decide whether WHBAR is worth investing in, you need to consider various market factors such as the overall trend of the cryptocurrency market, the project's fundamentals, its current market valuation, and whether the current price is suitable for buying. If the project's fundamentals suddenly change or the price becomes excessively high, you should adjust your investment strategy and trading operations accordingly.
Your investment decisions should be based on your own risk tolerance, financial status, market analysis and research, especially the timing of your investments. Correct timing can ensure more reliable returns. Keep in mind that investing in WHBAR or any cryptocurrency comes with certain risks and uncertainties.
Regardless of your outlook on the development prospects and future trends of WHBAR, if you want to buy or sell WHBAR, you can consider Bitget for your trading needs. The best place to buy WHBAR is an exchange that offers hassle-free and secure transactions, combined with a user-friendly interface and high liquidity. Every day, millions of users choose Bitget as their trusted platform for crypto purchases.
Investing in Wrapped HBAR has never been easier. Simply sign up on Bitget, complete the identity verification process, and make payments using bank transfers, debit cards, or credit cards, all while ensuring security through crypto wallets. This is a widely adopted method to buy Wrapped HBAR. Here's a step-by-step guide on how to buy Wrapped HBAR on Bitget.

How to get Wrapped HBAR through other methods?

Using cash to buy Wrapped HBAR is not the only way to obtain Wrapped HBAR. If you have the time to spare, you can get Wrapped HBAR for free.
Learn how to earn Wrapped HBAR for free through the Learn2Earn promotion.
Earn free Wrapped HBAR by inviting friends to join Bitget's Assist2Earn promotion.
Receive free Wrapped HBAR airdrops by joining ongoing challenges and promotions.
All crypto airdrops and rewards can be converted to Wrapped HBAR through Bitget Convert, Bitget Swap, or spot trading.

What is Wrapped HBAR used for and how to use Wrapped HBAR?

The use case of Wrapped HBAR may expand as the crypto market and the project itself develop. Currently, you can use WHBAR to achieve the following goals:
Arbitrage by trading WHBAR: Since WHBAR is a frequently traded cryptocurrency, the price of WHBAR is always fluctuating. Earn more WHBAR by buying low and selling high on the exchange. Bitget spot market provides a variety of WHBAR trading pairs to fully meet your needs.
Earn by staking WHBAR: You can also generate income through financial management methods such as staking WHBAR or lending WHBAR. Bitget Earn offers a variety of financial products designed to help you earn more income from your WHBAR.
Send or pay WHBAR: If you want to give WHBAR to your friends, a charity, or a fundraiser, or you want to pay someone with WHBAR, you can quickly and easily send WHBAR to the recipient through their payment address.
You can also go to the official website of the Wrapped HBAR project to learn more about the use cases of WHBAR. For example, find out if the project supports the use of within its community or ecology, or if the project allows you to purchase physical or virtual products in .

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