HBAR has experienced a significant 45% decline from its yearly high, currently trading at $0.1670. This drop is attributed to weak ecosystem growth and bearish technical indicators, including a 'death cross' pattern and a declining RSI. Developer activity remains low, and investor demand has waned, reflecting reduced confidence in the token. Network metrics reveal only 23 active DeFi protocols, with a 25% decrease in total value locked (TVL) to $176 million over the past month. Additionally, futures open interest has dropped to $119 million, marking the lowest level since November 2024, further indicating diminished interest in HBAR.