Ready to add a potential game changer to your crypto collection? If so, then I invite you to learn about the Holo (CCC:HOT-USD) cryptocurrency token as some folks are bracing for substantially higher prices in Holo.
This cryptocurrency runs on Holochain, which is an open-source framework on which the users can design fully distributed, peer-to-peer applications.
Remember: this isn’t the blockchain, it’s Holochain. Here, transactions are logged on individual user nodes, not on a public ledger.
It’s a unique concept with distinct advantages for the users. But will this translate into higher Holo token prices? That’s the billion-dollar question, so let’s dive right in with a brief review of HOT’s price history.
A Closer Look at the Holo Price
If you’re trying to find a digital asset that’s cheap enough for practically anybody’s portfolio, you’ve definitely come to the right place. Indeed, this one’s measured in pennies rather than dollars — though that could change someday.
On the morning of April 5, Holo was trading at around 3 cents. That might not sound too impressive, but we have to put the current price in context.
You see, the HOT token was priced at less than one-tenth of a penny at the beginning of 2021. However, bulls ran the price up quickly in March, sending it to 1 cent on March 27.
The Holo price then reached 2 cents on April 3, followed by 3 cents on April 5. Importantly, all of this price action was accompanied by increasing daily trading volumes.
So, as you can see, this little runner’s got plenty of momentum and there could be much more gas in the tank.
Soon, we’ll take note of some ambitious price targets. Still, please be cautious with your position sizes as cryptocurrencies are known to be volatile assets.
If Holochain developers and users have their way, the blockchain might actually become an outdated technology someday.
What I like about Holochain is that the developers actually encourage regular folks to build their own innovative distributed apps on the platform.
While the blockchain emphasizes its decentralized framework, Holochain goes the extra mile by enabling a distributed web and facilitating greater user autonomy.
Thus, “With digital integration under user control, Holochain liberates our online lives from corporate control over our choices and information.” This isn’t just a distributed network — it’s effectively a revolution.
And while the Holochain project is open-source, the Holo owner known as the Holochain Foundation made a savvy move in securing a U.S. patent on Holochain’s peer-to-peer networking design.
This is still a fresh development as the patent was just granted in late March. As the company explains, the patent covers the Holochain framework which “describes a system of nodes communicating according to a relaxed, agent-centric distributed hash table.”
From Cents to Dollars
What the Holochain network now has is an enforceable means of protecting “the rights of end users to have sovereignty over their data,” according to legal expert Van Lindberg.
Will all of this lead to higher prices for the HOT token? There are no guarantees, but some moon-shot forecasts are currently floating around.
For example, on April 5, digitalcoinprice.com predicted that Holo would rally up to approximately 14 cents.
People are saying $hot to $1 this year. I’m feeling more like $5-10 Call me crazy 🤑✈️
— Jules (@Juliustune55) April 2, 2021
$hot to 0.03 cent was impossible a few weeks ago now look at us 1$+ is destiny and even further📈📈
— Hziyech (@Yaman1636) April 4, 2021
The Bottom Line
At the end of the day, price projections aren’t the most important thing. It’s your own due diligence that matters, particularly when it comes to volatile assets.
The Holo token is a fast mover, no doubt about that. Some people are saying that it will stay on its upward trajectory.
Really, the future of this digital asset depends on the technology it’s built upon. I must admit, it will be exciting to see how far the envelope will be pushed.
And, it wouldn’t surprise me too much if those lofty price targets are reached someday.
On the date of publication, David Moadel did not have (either directly or indirectly) any positions in the securities mentioned in this article.
David Moadel has provided compelling content – and crossed the occasional line – on behalf of Crush the Street, Market Realist, TalkMarkets, Finom Group, Benzinga, and (of course) InvestorPlace.com. He also serves as the chief analyst and market researcher for Portfolio Wealth Global and hosts the popular financial YouTube channel Looking at the Markets.