There are technologies that claim to be advanced or better versions of the blockchain. HOLO is not a blockchain, as its developers say. Then what is its essence and what are the prospects of the HOT token price? Is it time to invest in the hope of a new high?
Contents
What is HOLO (HOT)?
The HOLO developers argue the creation of their project as follows. Internet practices are based primarily on a centralized model, when a corporation owns data and manages technologies alone. Creators believe that collective intelligence helps to coordinate business and issues using the network called Holochain (so-called “un-enclosable carrier”). This will contribute to the Internet decentralization.
In the team’s opinion, the miners’ activity has caused undergoing centralization of the blockchain. Holochain also allows participants to communicate, bypassing centralized structures. For example, users can provide hosting services directly (P2P). The platform acts like a living organism with its systems, such as immunity, which protects against malware, etc. HOLO is like a “bridge” between the community of distributed applications (Holochain) and the current centralized system.
In HOLO, there is a digital token entitled HOT. ICO (Initial Coin Offering) of HOLO was held from March 29 to April 28, 2018. The official website of the project, says that a total of 33,200 ETH were collected and 133,214,575,156 HOTs were minted.
The HOLO team includes:
- David Meister (Holochain Core)
- Arthur Brock (Chief Architect)
- Celestial Hanley (UX/UI)
- Carmelo Piccione (Developer)
- Damien Doute (Software Engineer)
- Dan Quinton (a person responsible for partnerships)
The creators have explained intelligibly the features of their blockchain (more precisely “holochain”, since it is contrasted with the “imperfect” blockchain):
How Much Will HOLO Cost in 2023?
This cryptocurrency is highly resistant to market shocks, but some dependency exists. Naturally, the formation of the HOT token rate cannot occur outside of market trends. It is necessary to take this into account when forming an investment and trading strategy. However, in 2021, HOLO has attracted quite a lot of trading volume, which indicates a high demand for it.
The main goal for 2023 is to reach the highs of 2021. But is it within the power of a coin? Resuming growth may be more difficult, but not impossible.
The fall of 2022 fell into a flat, in which assets were accumulated. Removal of liquidity under the lower border of the price zone was a logical consequence of market conjuncture. The price range below $0.0017 has become a good place to build a long-term spot wallet. We consider futures trades as possible only if you use x2 leverage.
In order not to fall into a bull trap, we recommend taking restrained growth targets as a basis. These are the marks of 0.037 and 0.071 dollars per coin. Achievement of the first is explained by the fact that after the fall there is a good redemption with the liquidation of short positions above the upper zone of long-term accumulation. The logic of movement is explained by the presence of imbalance and the need to test the mirror level.
During the filling of the investment portfolio, you should not count on the rapid achievement of the previous maximum. We suggest keeping an eye on the resistance in the 0.0713 area. This is a personal price that will give a big profit to those who enter the trade in time. Only a confident break through it will allow you to think about trying to regain former price positions.
Holo (HOT) Price Prediction: Fundamental Factors
Let’s analyze some factors that can affect HOT’s value.
Favorable ones:
- HOT token is available on Binance, one of the world’s top crypto exchanges with high trading activity.
- The uniqueness of the technology: DHT (Distributed Hash Table) instead of PoS and PoW.
- New listings are waiting for the currency; this will positively influence the rate.
- The creators positioning themselves as adherents of the BUIDL idea (technology development).
- The use of popular languages Javascript and Lisp, which greatly simplifies the development of decentralized applications.
Unfavorable ones:
- Even if Holochain is better than blockchain, it may take a long time for people to accept it.
- HOLO has competitors such as SONM and Dadi.
- The maximum number of tokens (total token supply) is not specified, which causes some uncertainty. On the website, you can see only initial token supply.
We believe that the price for HOLO will gradually increase.
Globally, users are very bullish. On Twitter, we found an interesting speculation about the long-term (2023-2024) outlook for Holo (HOT):
Holochain News
- Holochain RSM (Refactored State Model) Launch
One of the major milestones for HOLO in 2022 was the successful release of the Holochain RSM. This major update to the platform improved scalability and performance, enabling developers to create and deploy dApps more efficiently. The RSM release attracted new projects to the Holochain ecosystem, fueling growth and interest in the HOT token.
- HoloPort Shipment and Updates
HoloPorts, plug-and-play devices that enable users to host Holochain applications and earn HOT tokens, have gained considerable traction. In 2022, Holo began shipping HoloPort devices to customers who pre-ordered, and the demand has continued to rise. As HoloPorts continue to be deployed, the network’s hosting capacity and decentralization are further enhanced.
- HoloFuel Launch
HoloFuel, the native currency of the Holo network, was launched in 2022. This development brought more attention to the project and increased the value of the HOT token. HoloFuel is designed to be a
stable and efficient medium of exchange for hosting services and computing resources within the Holochain ecosystem. As it gains traction, the currency is expected to gradually replace HOT tokens, which will be redeemable for HoloFuel at a 1:1 ratio.
- Growing Number of dApps and Partnerships
As the Holochain ecosystem continues to expand, the number of dApps built on the platform has grown significantly. In 2022, several high-profile partnerships were announced, with companies like Orion Protocol, Akasha, and RedGrid integrating Holochain technology into their operations. These partnerships have served to validate Holochain’s potential and have brought more exposure to the HOT token.
Upcoming events that may affect the price
- Holochain Developer Conference
To further encourage the growth of the ecosystem, the Holochain team has planned a developer conference in 2023. The event will bring together developers, entrepreneurs, and industry experts to share insights, showcase innovations, and discuss the future of Holochain technology. This conference has the potential to spark new ideas and collaborations, driving further growth for HOT.
- Holochain Infrastructure Expansion
The Holochain team has plans to further expand the infrastructure of the ecosystem in 2023. This expansion will include additional HoloPort shipments, improvements to the network’s overall performance, and ongoing development of tools and resources for the developer community.
- Increased Adoption of HoloFuel
As HoloFuel gains traction, the team will continue to work on increasing adoption among users and businesses in 2023. This may include forging new partnerships, launching marketing campaigns, and developing new use cases for the Holo network’s native currency.
Disclaimer: This price prediction is our estimate. Always check the facts yourself and assess the situation comprehensively before investing in a particular crypto project.
