Investors in layer-1 blockchain network Hedera (CRYPTO: HBAR) are certainly cheering today's price action. As of 2:15 p.m. ET, Hedera has soared 16.4% over the past 24 hours, making this token one of the best-performing cryptocurrencies in the market today. As the 30th-largest crypto project by market capitalization, that's certainly quite the daily move.

Today's surge in value appears to be tied to a move from the U.S. Federal Reserve to add Hedera Hashgraph-based Dropp to its FedNow platform as a service provider.

This is undoubtedly a massive deal for investors in Hedera, and all cryptocurrencies, for that matter. 

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Source Fool.com