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Hedera (HBAR), a prominent distributed ledger cryptocurrency platform, recently experienced a dramatic market shift, losing nearly $1 billion in value following a false report of a collaboration with semiconductor giant Nvidia (NASDAQ: NVDA). The fake news, which spread quickly through social media, claimed that Nvidia was exploring ways to integrate Hedera’s technology for real-time verification of artificial intelligence (AI)-generated data.
Exciting news! @chainlink's Cross-Chain Interoperability protocol (CCIP) is now live on Hedera mainnet.
— Hedera (@hedera) April 8, 2025
Developers can leverage the Chainlink standard to build secure apps that transfer tokens, send messages, and trigger actions across 46+ blockchains – further connecting the… pic.twitter.com/b3d4GnCQof
The announcement sparked a temporary surge in HBAR’s market capitalization, reaching approximately $6.99 billion on April 8. However, after it was revealed that the partnership was a hoax, Hedera’s market cap plummeted by $960 million, eventually stabilizing around $6.31 billion.
The false claim was initially circulated via a LinkedIn post, raising immediate red flags. The LinkedIn account behind the post was new, lacked verifiable ties to Nvidia, and no official statements from either Nvidia or Hedera confirmed the collaboration. Investors quickly reacted to the misinformation, driving HBAR’s price up, only to sell off once the truth came to light.
HBAR Price Struggles Amid Market Sell-Off
The price of HBAR has taken a hit, dropping over 6% in the last 24 hours and 11% over the past week. As of now, HBAR is valued at $0.1503. The token’s technical indicators also suggest a bearish outlook, with the price trading below both the 50-day and 200-day simple moving averages, signaling potential further declines in the short and long term.
Despite the current market downturn, Hedera remains a promising player in the blockchain space. Recent developments, including its integration with Chainlink’s Cross-Chain Interoperability Protocol (CCIP), offer a glimmer of hope for long-term growth. CCIP allows developers to build secure applications across multiple blockchains, enhancing Hedera’s decentralized finance (DeFi) ecosystem.
Long-Term Outlook: Hedera’s Potential
Hedera’s future remains bright, with analysts predicting the token could reach $2.40 by 2030, driven by technological advancements and strategic partnerships. The confirmed Nvidia collaboration and CCIP integration position Hedera for future growth, potentially providing significant crypto investment opportunities for those willing to navigate the current market volatility.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
Also Read: Hedera (HBAR) Surges 15%, But Bulls Face Crucial Test for Continued Rally
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
