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Hedera has recently accelerated its efforts to expand growth opportunities. The Hashgraph Association has announced its latest collaboration for expansion with Dar Blockchain, a WEB3 company based in Tunisia. The partnership is expected to work towards accelerating the adoption of the network through various initiatives.
New Innovations from Hedera!
The announced agreement is one of Hedera’s first partnerships in the African region. Hedera stated that the collaboration will focus on the participation and support of projects from the Middle East and Africa. Both Hedera and Dar Blockchain are said to create an incubation program that will host promising programs on the network.
The announcement highlights Hedera’s expanding presence in the African continent. Earlier this year, the blockchain network collaborated with telecommunications giant Orange to create an accelerator program in Morocco. The new program showcases a model that is part of Hedera’s ongoing efforts to achieve solid network growth through expansion, aiming to attract further growth. So how far has the network progressed in terms of growth?
Total Value Locked (TVL) is a tool used to assess network growth. This is because it provides an evaluation of the liquidity level available within the ecosystem. Hedera’s TVL started to rise in August 2022 and reached $45.64 million in February 2023.
Impacts of the Partnership on HBAR!
Since then, it has declined to $30.15 million. In general, in a scenario, incubation programs aim to increase the number of projects being conducted on Hedera and therefore raise the TVL. While there has been a decline in TVL, the number of core developers is still high, indicating healthy development activities.
When developer activities are examined more closely, a significant decrease is reported in September. However, there has been a significant increase in developer activities since the beginning of October. This observation also aligns with the increase in investor confidence as indicated by the weighted sensitivity metric.
Hedera’s HBAR token has been struggling to overcome its recent range due to investors’ continued focus on short-term profits. At the time of writing, HBAR is trading at $0.048 after experiencing a 7% decline in the past three days. The performance of HBAR may reflect the current market situation.