Holochain (HOT) +30% in last 24 hours! Why is Holo up during red market? - HOT Price Analysis. Saturday, September 8
While researching the top gainers among the cryptocurrencies during the red market period, many investors came across Holo (HOT) tokens and wondered why is it raising when the rest of the coins are falling down? We take a look at what is Holochain and the price movement, potential causes and predictions of their HOT tokens.
What is Holo Cryptocurrency?
Holochain wants to explore the scalable distributed apps with the addition of data integrity. They noticed that today's Internet is dominated by centralized corporate websites and there is not much freedom, transparency and privacy. They want to contribute to the creation of distributed web with user autonomy and grant users the ability to control their data, how its used and processed. The main feature when it comes to the transactions is low-cost, lightweight, security.
The project is still at a relatively early stages of the development and adaptation. However, they've already gathered a good size team, consisting mostly of developers and blockchain specialists.
Holo (HOT) Price
HOT Price Movement
One quick look at the price chart shows how volatile is the market and the coin, as the daily price amplitudes are very high and the coin is constantly fluctuating. The stable ground could be assumed to be around $0.001 price mark as this is the lowest HOT got, during the sudden market crash few days ago, with Ethereum falling from $280 to $218 in a matter of hours.
The first significant price increase of Holo this week happened on September 3rd, when HOT went from $0.001326 to $0.001592 in no longer than 2 hours. Then, we could see a rather downwards movement that were both caused by a natural correction but also most of the top cryptocurrencies losing their value. Yesterday, when some of the coins started to recover, Holo seems to recover at a much faster pace. It went from $0.001113 to $0.001538 in a day and still seems quite bullish.
Holo got +30% in last 24 hours.
Why Is Holo (HOT) Going Up?
One of the Reddit users on Holochain price discussion has mentioned few potential reasons behind the sudden price change. He jokingly created a vote among the community to come up with the idea:
1. Secret good tech/company news coming
2. About to be listed on another exchange
3. Pump and Dump
4. People just learning about it and like it"
The responds consider it to be a simple pump or investors gateway during the red market times, however there are also people that think investors are trying to get away from Ethereum and are looking for new potential projects in the smart contracts and dApps market. 80sGamerKid wrote: "When everyone loses faith in ETH and it dumps you have to look for a new hope. Right now that is HOT cakes".
HOT/USD Price Chart, Saturday September 8th:
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