What Led To Hedera’s Massive Growth In Q3 of 2022?

Following the gruesome aftermath caused by the collapse of FTX exchange, the crypto market has since spiraled down to levels last seen in the bear market of 2018. However, this has not impacted the growth of the Hedera project which runs on its proprietary Hashgraph technology.
Hedera’s Strong DeFi Initiatives
The Hedera Network recovered with solid growth across the board after a turbulent second quarter. Hedera’s market capitalization was almost flat QoQ but in Q3, the transfer volume increased by 25% whereas its DeFi and NFT statistics reached record highs.
The increases in activity can be traced back to a number of different reasons. SaucerSwap, Hedera’s first native decentralized exchange, is now operational and the leading NFT marketplaces have been steadily expanding their respective shares of the NFT market.
Read More: Hedera Hashgraph Processes ATH Transactions, HBAR Surges by 200%
Hedera’s biggest achievement in this quarter has been to reach the $100 million in TVL milestone, which is a 171% increase quarter on quarter. The launch of SaucerSwap, Hedera’s first decentralized exchange, was the primary factor for the rise in Hedera’s TVL .
In the two months since its debut, the transaction volume on Saucer has hit $30 million, and the total value of its TVL has surpassed $17 million. As Q3 comes to an end, liquid staking platform Stader Labs has also generated $80 million of the total $100 million in TVL for the network and has played a key role in growing the TVL.
Millions In Grant Programs
To further bolster the network’s ecosystem, the HBAR foundation has pledged a total of 360 million dollars to ecosystem initiatives and has already approved 167 grants.

Over the past year, we’ve seen the #metaverse on @Hedera gain real-world traction, from big names, driving real-world value. From AAA gaming to hyper-real avatars, #NFTs , and virtual worlds – #Hedera is proving itself as the home of the metaverse