Holochain (HOT) Is up 220% This Month on Limited News
Since starting the month at roughly $0.000445 on January 1, Holo has increased around 220% to $0.0014328, where it is currently trading. This brings HOT to a market cap of $190 million.
Notably, the price run-up has been backed by significant volume that is magnitudes higher than in the majority of months leading up to January.
Despite the investor speculation, there has been relatively little news coming out of the Holo camp to start the year. Outside of a developer release that made Holo’s P2P networks for “hApp” users available, there does not seem to be any real news behind the price surge.
Given the push for decentralized applications on platforms like TRON and EOS, the fact that Holochain’s value proposition is targeting the security and scalability of dapps is intriguing. Ultimately, their tech plans to provide users with their own chains that can interact in complex ways to promote data accessibility and use cases.
However, despite the long-term goals of the project, the current price momentum seems significant in its own right and should be watched closely by traders and investors looking for signs of life in the crypto market.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.