Holochain (HOT) Up 25% On Rising Volume and Positive Weiss Predictions

Holochain (HOT) surged to 25% gains late on Sunday, possibly buoyed by its very positive appraisal in the latest crypto-predictions by the good people at Weiss Cryptocurrency Ratings.

The Weiss forecasts predicted a positive outlook in 2019 for Bitcoin (BTC) and XRP (XRP), whereas Litecoin (LTC) and the Bitcoin Cash (BCH/BSV) coins were dismissed as mere Bitcoin imitators which would eventually disappear.

Holochain is named along with EOS (EOS) and Cardano (ADA) as a possible pioneer of the coming ‘Internet 3.0’. Trade volumes rose 381% on Sunday as speculation picked up on Binance’s HOT/BTC and HOT/ETH markets.

Holochain Looks Good to Weiss

Much has been made of Holo’s Distributed Hash Tables (DHT) – a non-blockchain approach which more resembles a torrent network than a typical crypto blockchain. More can be read on Holochain’s unique tech in this recent article.

Meanwhile, the latest Weiss post mentions Holo’s non-blockchain approach in the opening gambit, stating as an example of innovation:

“Holochain, also based on a non-blockchain approach, was introduced to the world.”

Holo is then mentioned in ‘Forecast #4’, which states that ‘a select group of cryptos will compete to build a new kind of internet’:

“Coins like EOS, Cardano, Holochain and others are currently leading the charge to create Internet 3.0 — a more secure and more sustainable worldwide web.”

The post goes on to say that this batch themselves will spawn numerous imitators and that the majority of them will ultimately fail – but the risk could be worth it:

Most will eventually fail. But the potential prize is enormous. If the most advanced cryptocurrencies succeed in creating Internet 3.0 as proposed, they could someday be worth trillions of dollars in market cap.”

Holochain has already rubbed shoulders with the likes of Mozilla, and was named dropped by Mozilla CFO, Jim Cook. Cook stated that Holochain’s agent-centric model ‘speaks to Mozilla’. Holochain’s use of the Rust programming language was at the center of a 26% price hike back in October of 2018, when Binance sent out job posts for Rust developers and the crypto community smelled a partnership in the making.

Holo Price – HOT/USD

That partnership never developed, and Holo is sitting at around 25% of the value it held in October. The token’s recovery since December lows has been slow in coming – HOT has increased just 35% in value since last month, compared to Litecoin’s 66% and Ethereum’s near 100%.

On Sunday HOT increased 25% in value, from a token price of $0.000443 up to $0.000554. The surge was helped by a 381% increase to trade volume, which saw the daily changeover rise from $1.1 million to $5.3 million. Binance housed over 80% of the action, with HOT/BTC accounting for $2.9 milion worth, and HOT/ETH processing $1.7 million worth of trades.

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.

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