Hedera Hashgraph has soared by more than 125% in the past 24-hours in a rally that is eerily reminiscent of 2017’s landmark altcoin season.
The momentous push to the upside comes after an announcement from Google Cloud Partners revealing it will be working with Hedera Hashgraph to “support the next generation of distributed ledger technology”.
“We initially turned to Google Cloud for its ease of use, networking advantages and overall platform performance,” said Atul Mahamuni, SVP of Products for Hedera.
“The Google Cloud Platform was the perfect foundation to help us achieve our goals to bring enterprise-ready DLT adoption at scale.”
At the time of writing the HBAR token is trading at $0.04750 on Binance – a dramatic turn of events from yesterday when it was languishing down at around $0.02025.
— Google Cloud Partners (@gcloudpartners) February 11, 2020
The rally is not only significant for Hedera Hashgraph but for the entire altcoin market as it proves that meaningful partnerships can in fact have a positive effect in terms of price action, contrary to popular belief.
Following the demise in altcoins in 2018 investor sentiment has been fairly negative, and rightly so with the majority of altcoins losing more than 95% of their respective value.
But Hedera Hashgraph seems to be leading the way in reversing opinion in 2020, which has caused a subsequent rise in a number of altcoins including Tezos, Blockstack and Terra, all of which are up by more than 25% in the past 24-hours.
Disclaimer: This is not investment advice.
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