Hedera Hashgraph partners with leading Australian debit card, HBAR/USDT falls after seven straight bullish days
- Australian debit card network Eftpos is using Hedera Hashgraph to trial a micropayment system.
- Eftpos plans to showcase the use of micropayments for the purchase of online goods and services.
- Eftpos will host a "digital Australian dollar stablecoin" on Hedera.
- HBAR/USDT bulls finally ran out of steam at the 0.04246 resistance level.
Eftpos, a leading Australian debit card network, is reportedly using Hedera (HBAR) Hashgraph to trial a micropayment system. Stephen Benton, the CEO of Eftpos, said that the partnership of the two companies is a key part of Eftpos’ digital payments strategy, according to a CoinDesk report.
Eftpos will host a "digital Australian dollar stablecoin" on Hedera. It will use hashgraph to fund a digital wallet, which could be used to make small payments for web content. Benton said that micropayment transactions could be used to purchase online goods and services, including pay-per-page content and streaming services on a pay-per-second basis.
The project is led by Robert Allen, who will focus on payments innovation. Allen said the proof-of-concept would help Eftpos explore additional use cases of distributed ledger technology by leveraging “next-generation payments infrastructure.” Eftpos clocked over two billion transactions in 2019 and is worth around AU$130 billion (US$92.8 billion).
HBAR/USD daily chart
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HBAR/USDT bears took control of the market in the early hours of Friday, taking the price down from 0.0426 to 0.042. It looks like HBAR/USDT is finally going to have a bearish day after seven consecutive bullish sessions. Looking at the trade volume, it seems like a whale has dumped some of their HBAR. Hence, the bearish action doesn't look like the action of a wide market, as a whole.
HBAR/USDT has strong resistance levels at 0.0426 and 0.04348. On the downside, there are healthy support levels at 0.04139 (SMA 50), 0.04098 (SMA 20), 0.04071 and 0.03961.
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Author
Rajarshi Mitra
Independent Analyst
Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.
