HBAR jumped 16% after Drop, a payments platform built on Hedera, became a FedNow service provider. This gives U.S. banks access to Hedera's micropayment technology through the Federal Reserve's system, though there's no direct HBAR-Fed partnership.
HBAR price is pumping. It has exploded 16%. Why is it doing this and what does it have to do with the Federal Reserve? Well, it was just announced that a platform called Drop was added as a FedNow service provider. So the Federal Reserve's platform for instant payments called FedNow, Drop, uh, was added there and they are a Hedera Hashgraph-based platform enabling micropayments for HBAR. Is this a partnership between HBAR and the Federal Reserve? No. Is it an indirect connection between HBAR and the Federal Reserve? Yes. This means that banks in the U.S. looking for micropayment services can now use Hedera technology through Drop. So this could be why the price is going up. Watch out for the short if it comes back down, but I believe 2023 will hold more amazing announcements for Hedera.
