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Of course, there is positive news behind this rapid rise. Today, the Hedera Hashgraph (HBAR) team announced the launch of the DeepTech Venture Studio project to be established in Saudi Arabia.

This project is an important step for Saudi Arabia to diversify its revenue sources away from oil. The $250 million studio project also plans to develop in areas such as artificial intelligence (AI) and quantum technology.

As part of a five-year agreement valued at $250m with the Saudi Ministry of Investment (@MISA), @The_Hashgraph Association has announced the launch of the DeepTech Venture Studio – empowering companies to develop innovative technological solutions. #web3https://t.co/wnqA9H4rm4 https://t.co/Yi6EJWqEh6

— Hedera (@hedera) February 6, 2024

As known, Hedera has partnerships with companies such as Google, IBM, ServiceNow, and LG. This also puts the project and its altcoin in an important place in the crypto market. In addition, global asset manager Abrdn is using the Hedera platform to develop tokenized solutions.

Other Developments Affecting Hedera (HBAR) Altcoin Rise

• Hitachi company joined the Hedera Hashgraph (HBAR) Governing Council.
• An agreement was made with Australian Payments Plus (AP+). (Australian Payments Plus is a payment company with connections to over 150 banks.)

The post This Altcoin ‘s Price Soared: It Moved Against the Market Trend! appeared first on Coin Engineer.