Hedera market has recently entered a downtrend following a brief recovery. Hedera price is currently undergoing a market correction. This trend mirrors the broader cryptocurrency sector, which has also been bearish after recent market fluctuations. In related developments, Hedera is poised to become a founding member of the MiCA Crypto Alliance, alongside Ripple and the Aptos Foundation. This strategic move precedes the recent decline in Hedera’s price.