Hydro has been increasing steadily during this week, coming to the level of 0.00163 american dollars at this moment. This crypto definitely touched its bottom on May 9th, when it was traded for 0.00131 dollars. In my last week's post I was mentioning about that important fact regarding to increase of Hydro, so the bullish party for this crypto has started. In the last 7 days Hydro increased 17% as you can see in the following chart.
As you can see here Hydro crossed an important level of USD 0.0018 last Wednesday, bouncing back to 0.00163 as of today - Friday 17th, reaching its minimum of 0.00158 today. This trend is correlated with the evolution of Bitcoin/USD exchange rate. Bitcoin soared up to 8,275 dollars. And today fell almost by 1,000 dollars. Hydro overall market capitalization is 11.992.460 US$ and ranks as number 243 in Coingecko.
Yesterday Hydro reached the highest trading volume of this month around 582,000 dollars, today the trading volume fell by more than 50% due to the corrective movement on the markets.
For more detail on the last 24 hours development of Hydro/USD you can observe the following graph. The lows were reached around 6 am CET and the highest level 3 hours ago, at 8 pm.
This trend is highly correlated with the evolution of Bitcoin/USD exchange rate. Bitcoin soared up to 8,275 dollars. And today fell almost by 1,000 dollars. Some people complain about the Bitcoin recent sell off but in my opinion it's better that the accelerated growth has been corrected due to the fact that the parabolic formations may provoke in lot of cases a very sharp and highly undesirable decrease in the future; as what we witnessed in case of an excessive growth which occured in December 2017 where Bitcoin multiplied its value and then crypto market entered into the longest bearish market which has ruled during 2018.
The evolution of Hydro/USD exchange rate you can observe on your dashboards, also you can realize that Hydro strengthened because the tips received in Hydro are lower but worth more in dollars when Hydro is stronger; anyway we are protected on this site against the market volatility.
I follow Project Hydro on Twitter, and this week I saw an important announcement of Hydro Pay app. This app is found in the phase of Beta testing. The most important fact about it is that you will be able to pay friends and family for food, drinks, rent, tickets, and so much more with Hydro Pay plus it's the first no crypto payments app. If you compare many crypto sites, they are charging pretty high commissions.
The initial Beta testers can get get 10,000 free HYDRO after they download the app and make a transfer. I don't know if you but I will definitely go for it because I like Hydros and I see an enormous potential in this crypto. Sign up today to join the initial beta test: https://projecthydro.org/hydro-pay-beta/
"Future Hydro Pay updates will add fiat onramp and offramp, followed by interest, loans, invoicing, B2B payments and so much more!" (Project Hydro Twitter)
I really wish that crypto payments became a main source payment method in the future. I had a personal experience when I was wiring dollars from Mexico to Australia, it's really annoying how complicated it is and how much time consuming effort it can become. First you have to change mexican pesos for dollars, then you have to go to the bank. In the exchange rate between BID and SALE you already loose over 3% of commission on spread, plus you have to pay at least 35-40 USD per that operation and it may take at least 1 hour of your precious time plus you have to leave your job because the banks do it only before 2 pm. What a wonderful hydro world may we live in - you can be doing this from the comfort of your home on Saturday night without waiting, spending money on commissions and helping environment and yourself to save the gas consumption of your car. I am really into this new technology because it can save a lot of our resources.
The road map of this wonderful project can be appreciated on the following image of Project Hydro:
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Thanks for all your support and have a nice weekend!