Holo Token Continues Rapid Ascension: Price Sees 131% Growth Over Week
The Holo (HOT) token price has surged 51% as of September 3rd, sustaining consistent growth over the course of the week. That weekly growth has seen HOT increase by 131%, en route to a four-month high, and the highest surge of trade volumes seen since mid July.
Holo (HOT) Price Surge
CoinMarketCap rankings only go back as far as May for the HOT token, and after an initial flurry when trading started, the token eventually gave way to market forces. Yet despite the summer’s bear market Holo has now hit several new recent highs. Today’s surge takes it to the highest token price since May – shortly after trading began. While today’s 1566% rise in trade volumes is the highest seen in over two months.
From a weekly low of $0.000641 on August 28th, HOT ascended fairly steadily throughout the week, and arrived at a peak of $0.001484 at 11:00 UTC this morning. As you can see, volumes rose dramatically over the course of the week, rising from $2.4 million to the $40 million figure witnessed today. Peak volumes don’t appear to have hit just yet, so don’t be surprised to see a sizeable rise before the day’s out.
Binance Be Praised
Were it not for Binance today, HOT token trades would not be anywhere near that $40 million figure. Indeed, around 93% of activity has come from Binance, where HOT/BTC trades dominate with 62.25%. HOT/ETH trades follow in second place, but are some way off with 29.75%.
Holo made the headlines back in July when it shot up in value by 70% after getting a listing on Binance, and the popular exchange seems to have become its home. A few million dollars worth of trades are scattered between Hotbit, LATOKEN and Fatbtc, but the respective volumes pale in comparison.
As per the team’s tweet on August 27th:
“New listing！Holo(HOT) will be listed on Sobit exchange on August 28, 2018 at 12:00 (UTC+8).”
Sobit is a decentralized exchange operated out of Singapore, and no volume data has been picked up from it at this time. Decentralized exchanges are still viewed with hesitancy by the average crypto investor, precisely because of their decentralized nature. Decentralization is only effective if every player involved has the skills and knowledge to operate effectively by themselves – and they don’t.
As covered here earlier in the week, Holo has previously been closely linked Mozilla, after CFO of the web browser giants, Jim Cook, name dropped Holo in a media interview. That was back in Q2 of 2018, and since then HOT has seen a 319% increase in value.
Featured image courtesy of Shutterstock.