Holo Token Price Up 47% Over Day: Binance Trades Dominant

Holo (HOT) got a boost towards the end of July when the three month old token was listed on Binance and immediately felt a 70% boost to its numbers. The value of HOT tokens dipped shortly afterwards, but have been on an upward trend since late last night, with Binance accounting for 87% of its trades.

HOT Grows 47% Overnight

Close to midnight on August 5th, Holo jumped from a price of $0.000555 to a daily peak of $0.000818 earlier this afternoon (UTC). As the afternoon wore on the price rebounded slightly, falling back to the $0.000700 mark, but then begun to ascend once more. At the time of writing one HOT token is worth $0.000808 and seems to be rising based on the 1.2% growth recorded within the last hour.

Holo launched in May of 2018 and after a brief price rally it descended steadily throughout June and July. That was up until July 23rd when it arrived on the trading floor of the Binance exchange. An immediate boost of around 70% was felt when trading opened on the exchange, but if we include the ramp up over the weekend in anticipation of the listing, then we can see that HOT tokens grew 114% over the course of the long weekend.

The daily volume has risen by 614% over the course of the day, up from $2.5 million to $19.3 million, with Binance housing the bulk.

Binance Trades Dominate

Binance currently accounts for $17 million of the $19.3 million trade volume, with HOT/BTC trades making up 55% of the daily total. Following not far behind is the HOT/ETH trading pair which has seen $6.2 million worth of trades and makes up 32% of the total.

All other exchanges pale in comparison to Binance as far as HOT tokens are concerned, with Fatbtc making up 4.5% of the daily trades, and Hotbit accounting for 2.4%.

Holo’s performance today comes unannounced, with no earth-shattering technical or sentimental news coming from the team. The growth comes amid a bad day at the markets for crypto – with total global volumes sitting at a paltry $11 billion. That’s more than the $8.7 billion seen towards the middle of July, but is still 70% less than the $37 billion we saw (briefly) on July 28th.

Only fourteen coins or tokens in the top ten are glowing green for the day, with little rhyme or reason behind who’s up and who’s down. The Coinbase announcement from one day ago (July 5th) doesn’t seem to have affected much in the grand scheme of things, with none of the coins mentioned seeing any significant boost to their price valuations.

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