40% Of Hedera Hashgraph Council Nodes Drops Offline, HBAR Price Down 54% In Last 30 Days
- 4 of Hedera Hashgraph’s nodes have gone offline without any warning, indicating the network is perhaps more centralized than it was believed to be.
The closing of 4 nodes out of a total of 10 allows Sybill attacks to happen in an open network. Hedera Hashgraph is known to run public nodes, yet the Council Nodes are the ones that decide resources and software updates for the network. Hedera Hashgraph’s nodes should be run by the project’s largest platforms, like Boeing, IBM, Deutsche Telekom, and others.
4 out of 10 council nodes of @hashgraph went offline without any explanation
Team is bullying community and not allowing the use of the logo. Dictatorship of a centralized shitcoin.@chasker Christian hasker
— 🚨Scam Alarm 🚨 (@Scams_alarms) December 30, 2019
Hedera Hashgraph Was the Big Sensation of 2019
Since it was a sensation in 2019, Hedera Hashgraph got immediately listed on Binance. Its CEO and co-founder, Mance Harmon, presented the project’s traditional business structure and organized a token sale that gained a lot of hype and many important buyers in the pre-sale periods.
The HBAR Token Failed
Soon after the exchange’s launch, the HBAR token began to unravel itself. The news on the node shutdown has caused the asset to go down by 9% once more, reaching the $0.011 value, after the initial $0.40 trading levels. HBAR has been made available for early buyers, last time on December 31, making retail token holders become reluctant bagholders.
Hedera Hashgraph had an attempt to manage the price slide of the token by offering ICO buyers who haven’t invested too much in HBAR future rewards if they held onto their pre-launch tokens and gave up on getting active HBAR. This is how the HBAR price is expected to change in 2020, according to distribution:
Info: #HederaHashgraph (#HBAR) distribution:
Dec 22, 2019 – 1.41B (cause of price dump)
Jan 22, 2020 – 1.54B
Feb 22 – 1.68B
Mar 22 – 2.11B
Apr 22 – 2.25B
May 22 – 2.32B
June 22 – 2.69B
Jul 22 – 2.76B
Aug 22 – 2.83B
Sep 22 – 3.28B
Oct 22 – 3.35B
Nov 22 – 3.42B
Dec 22, 2020 – 3.79B
— Important Crypto News and Info (@MajorCryptoNews) December 23, 2019
Every distribution almost coincides with immediate selling and causes the price to go down without any hope of stopping. Binance is the main liquidity source as it liquidates HBAR:
Binance – BTC Market#HBAR – Unusual selling activity
7.18 BTC in 2 minutes (12%)
B: 0.00000183 🔴 (2.14%)
A: 0.00000184 🔴 (2.13%)
24H Vol: 68.03 BTC
Last signal: 4 hours ago (4/7D)
— Whale Sniper (@Whale_Sniper) December 29, 2019
Hedera Hashgraph Among the Biggest ICO’s in 2019
Hedera Hashgraph is a project that became one of the biggest ICOs in 2019. It has raised an impressive sum of $100 million in spite of having its token sales mostly frozen. However, its community soon discovered the technology behind it is not enough, also that misleading tokenomics were presented to insider buyers, which lead to crypto players who were enthusiastic about the project to suffer losses.