Holo (HOT) Price Jumps 26% as Binance’s CZ Calls Out for Rust Developers

Holo (HOT) underwent a 26% price hike on Thursday evening, with trade volumes more than tripling within the space of a couple of hours thanks to increased BTC and ETH buys on Binance.

The movement comes shortly after Binance head CZ sent out a call for Rust developers to join the Binance team in one of their Asian HQ’s. Holochain/Holo is one of the few prominent blockchain projects which employ the Rust programming language, and could be seen as a quiet coup for a team which has already rubbed shoulders with the likes of Mozilla in recent times.

Holo 25% Price Hike

In the past few hours HOT chatter had been growing on twitter, and was picked up by one of the platform’s crypto signal bots which monitor twitter for increased or unusual crypto chatter. That was little over two hours ago.

That was the same time that HOT started pumping, predominantly thanks to an influx of trades on Binance. From today’s low of $0.000967, HOT climbed to a price of $0.001219 by around 21:00 UTC. The volume, and price, continues to rise at time of writing.

Today’s spike takes Holo back to its mid-September price range just like another of today’s market growers – Tron (TRX). Like Tron however, the price remains some way off the quarterly or even monthly high.

Despite a lack of volatility in the crypto market in recent weeks, prices are still very close to yearly lows across the board. Long term holders getting into the crypto market now for the first time stand a much better chance, all things considered, than someone entering the market earlier in the year.

Holochain Rust

As per the Binance job posting that went out earlier in the week:

“We are looking for highly skilled Senior Developers (5+ years development experience as a minimum in a combination of Rust and C++ or Java) to work on our backend for our world class trading platform in one of our offices in Asia. We are continuing the development of our platform using Rust and C++, with legacy systems in Java.”

Holochain primarily uses the Go programming language, however a Rust version is also in development which is designed for easier compatibility with Web Assembly within internet browsers.

A full list of businesses and companies currently using Rust can be found here. While a crypto enthusiast posited the Binance link as a possible sentiment booster for Holo, there’s no certainty that today’s flurry of buys emanated from it. If it did it may be a case of ‘forgot to buy the rumour’, as there was a two day delay between the original tweet and the price surge.

Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Greg Thomson is a freelance writer who contributes to leading cryptocurrency and blockchain publications like CCN, Hacked, and others.