Hedera HBAR Under Pressure as Stablecoin Reserves Plummet 82%
Hedera Hashgraph's native token HBAR dropped sharply to $0.1450, representing a 35% decline from May's peak and forming a bearish death cross pattern. This downturn occurred despite the platform's achievement of launching AUDD, Australia's first dollar-pegged stablecoin on Hedera's network.
AUDD offers near-instant settlements with transaction costs around $0.001, which could drive further stablecoin adoption. However, DeFi Llama data shows Hedera's stablecoin reserves have shrunk 82% to just $40 million, down from $216 million last month.
The network now lags behind newer competitors like Sonic and Unichain, which have stablecoin reserves over $380 million. This significant liquidity reduction may worsen HBAR's downward trend as market confidence declines.
