- Right after getting featured at the UN’s COP30, Hedera once again made big waves from its integration with Axelar.
- HBAR’s price rose sharply as the integration unlocked its network’s interoperability with dozens of chains.
Hedera (HBAR) staged a massive rally by over 26% from its dip heading into the weekend up to the start of the regular work week this Monday. During that time, the token rose from $0.123 to $0.155.
Similar to Bitcoin (BTC) and other large-cap altcoins, HBAR’s oversold 14-day Relative Strength Index (RSI) around the weekend triggered a major recovery as buyers capitalized on the dip to lower their entry barrier into the asset. Additionally, the US exchange-traded fund (ETF) fever significantly contributed toward renewed optimism in the Hedera ecosystem.
On top of these, Hedera recently achieved one of its largest milestones with its integration with Axelar (AXL).
The Hedera and Axelar Integration
Axelar, a decentralized network providing a full-stack interoperability layer, broke the news about its newly established link-up with Hedera. According to the platform’s announcement on Sunday, the integration will enable HBAR’s native chain to connect with over 60 blockchains Axelar supports.
The latest development means a significant expansion in Hedera’s cross-chain capabilities. The integration plugs it directly into Axelar.
With Axelar serving as a universal bridge, users can transfer assets from the Hedera ecosystem to other supported chains. At the same time, developers can tap into Axelar’s programmable cross-chain communication system to run their decentralized applications (dApps) across multiple networks.
Not wasting any time amid the tight competition in the crypto space, Hedera has already connected its top decentralized exchange (DEX), SaucerSwap Labs, directly into Axelar. As a result, this unlocks more seamless cross-chain transfers right at the DEX platform’s user interface (UI), making it function like a native feature.
Hedera at COP30 Summit
Adding fuel to Hedera’s bullish technicals are its strong fundamentals. Beyond the confines of crypto and Web3, it is also attracting widespread recognition across industries beyond onchain and traditional finance.
Hedera notably stole the show at the United Nations Conference of the Parties on Climate Change (COP30) in Brazil, which ended on Friday. The chain got the spotlight at the event for its scalable solutions that could cater to blockchain-based climate-conserving systems.
Hedera representatives discussed at COP30 how the network could provide a transparent, secure, and public infrastructure for sustainable projects, particularly in results-oriented climate financing. Furthermore, the topics included a highlight of the chain’s utility for tracking greenhouse gas (GHG) emissions and tokenization of renewable energy credits (RECs).
RECs are tradeable certificates that companies can use to offset their GHG emissions. Each represents the generation of one megawatt-hour (MWh) of electricity from a renewable source, such as wind or solar power.
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