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  5. Holochain price prediction: Is the HOT token still profitable?

Holochain price prediction: Is the HOT token still profitable?

Holochain price prediction: Is the HOT token still profitable?

For many years, people believed that blockchain networks were developed for financial services because of the cryptocurrencies that served as rewards. While that may be true of most blockchains available on the market today, some have yet to go down this route. Holochain is one of those, and we’re going to look at it today, including its prediction for the hot price over the next year.

What is Holochain?

Holochain is a blockchain network that, unlike most others, was not designed for financial purposes. Although the technology behind it is similar, the purpose is quite different. It works as a network where the nodes can rent their storage space for the other network users. Holochain is technically based on Ethereum, which makes it an excellent platform for building decentralized apps. Interestingly, the apps are called HAPS, short for Holochain applications.

Developers host the apps on the network, and each node gets a piece of it, meaning the entire app is decentralized. This type of blockchain network offers the same benefits as an Ethereum network.

The maintenance costs are minimal, as are the costs of hosting the apps, and on top of that, there is no central unit where the application is hosted, which improves security. As the blockchain has improved, additional programming languages ​​have been implemented to work with it, and today you can develop apps written in HTML, Lisp, or JavaScript.

Another benefit is that Holochain has implemented the DHT algorithm, which offers some things that some of its competitors don’t. The first is scalability, an aspect where Holochain excels. The second important thing is that you don’t need consensus from across the network to be able to write something to the network. Multiple nodes can create and operate a sub-blockchain network within the Holochain network.

In March, Holo Limited announced that it had received a US patent for its Holochain distributed application framework, sparking the most significant jump in HOT price performance to date.

Holo’s primary offering is that its network does not rely on a global ledger for validation. Unlike blockchain, transactions are logged on individual user nodes, which helps speed up transactions and increase network scalability.

Applications developed by Holochain do not require an intermediary, such as a social media network or another service host, which means users are in complete control of their own data.

What is hot?

Blockchain networks reward their users with tokens, and Holochain’s token is called Hot. The reward system on this network doesn’t work like other networks where nodes are responsible for mining, but at the end of the day, Hot is the reward for it.

At the end of March 2018, the first coin offering for Holochain started for $0.0001. Hot is an ERC-20 token, so the funds were raised in ether, and after a month, they managed to get about $20 million or about 30 thousand ether.

Hot price analysis for the last few years

Before diving into my future holo price prediction, let’s first examine the coin’s history. April 2018 on the market, two days after the ICO ended for $0.0004, four times higher than that during the ICO. The following week we saw a significant surge where the price touched $0.0018, and the next year, we didn’t see the hot price close.

After falling to a price below where it was when it launched, we saw some spikes and fell even more in 2018 and early 2019. At the end of 2018, the token price managed to pass $0.00045 followed by a surge to around $0.0015. The price stayed around this number for the next several months.

There was another price spike in late May 2019, where Holo hit its all-time high of $0.0024, and it’s been going down the hill ever since. Although the price has continued to see a few spikes over the past year and a half, the average has declined.

The pandemic hasn’t helped the holo at all in terms of price. In mid-March, the lowest price in the coin’s history fell to $0.00028, almost half of its original price in 2018.

Things seemed bullish over the following months as Hot hit $0.0009 before falling again. January 2021), the holo price is $0.00069, which is much better than the ICO price. The market cap is $117,240,434. The coin is the 120th most significant cryptocurrency on the market.

With the holo price analysis out of the way, it’s time to look at the coin’s future.

Difficulty in predicting the holocoin price

Whenever we make any kind of prediction, we outline that I’m trying to be as reserved as possible. In other words, we make no guarantees as to which direction the price of any particular coin will go.

The first problem regarding holo price prediction is that the coin has not been in the market long enough to say with any higher degree of certainty about its future. Regardless, there are many coins where a pattern can be clearly seen on the chart that could provide insight into future increases or decreases. The holo price analysis didn’t reveal anything that would make me slim either way.

Our conservative 2022-2025 price prediction

With that in mind, we believe a trend will continue for the next few years. Not expecting the 2021 bitcoin rally to be so strong, we were sure the hot price would continue to grow slowly.

After our initial prediction from January 2021, we thought the holo price would hover around the $0.0007 mark with occasional ups and downs. At that time, we believed the price would go as high as $0.0009 by the end of 2021. We predicted that a similar trend would likely continue for the next few years through 2025. Time will show!

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