Holo has been one of the well-performing cryptocurrencies in 2021. The cryptocurrency has been giving subpar performance ever since its launch but the bull run of 2021 helped it reach towards new heights. Holo started off the year with a price level of $0.00059 but the price quickly shot upwards. In just four months, the cryptocurrency gained by more than 4,500% – which is admirable even by the cryptocurrency market’s standard. Holo established its new all-time high at $0.028, although the cryptocurrency fell drastically – reversing nearly all gains.
In the recent timeframes, the market trend has shifted once again and Holo has been moving up. HOT coin currently stands at a price level of $0.010. The cryptocurrency has bene trending upwards; however, the trend has effectively been broken and the price has moved nearly 2% to the downside in the past twenty-four hours. The daily trading volume has also declined by almost 20%. HOT is currently the sixty-fourth largest cryptocurrency in the market.
What is Holo?
Ever since the king of the market, Bitcoin, was launched, cryptocurrencies have been flooding the market with novel technologies. Bitcoin employs a Proof-of-Work consensus mechanism which is considered to be energy-intensive and harmful to the environment. Cardano was the first cryptocurrency to be launched with a Proof-of-Stake mechanism which is an improvement of the PoW model. Now, Ethereum is also shifting towards PoS.
Holo brings something new entirely to the table. Instead of an improvement to the PoW or PoS mechanism, Holo is a peer-to-peer distributed platform for hosting decentralized applications built on the Holochain called HApps. The Holochain removes the need for blockchain technology for the creation of decentralized applications. The Holochain works more like a software which solves the problems of scalability and network congestion.
The native token, Holo, is designed to serve as a bridge between the Holochain and the wider internet. The network’s technology is regarded as disruptive to the crypto space. It is an entire ecosystem with hosts providing storage and processing, the Holoport for additional processing, the Holochain, HOT and HoloFuel tokens.
HOT future predictions
The disruptive technology of Holo may be regarded to have locked potential which can help the cryptocurrency reach towards $0.05. According to the estimates of Wallet Investor, the cryptocurrency is exacted to be operating at a price level of $0.020 in a year’s time. In five years’ time, HOT token is expected to cross $0.059. Digital Coin Price is also bullish on the cryptocurrency but suggests a slowed trajectory. Per their estimates, Holo can skirt close to $0.05 by 2028.
