March 2021 saw a major development for Holochain, as it was granted a patent for its distributed hash table (the rrDHT), triggering a staggering 4000% surge in the HOT cryptocurrency price, reaching an all-time high of $0.03 on April 5.
However, this meteoric rise was short-lived. The price gradually dwindled, hitting a low of $0.004 on August 31. While there was a slow recovery afterward, the overall crypto industry remained in a state of gloominess in December.
So, what does this mean for Holo’s price forecast in 2021? Let’s delve into the details.
Holochain: The Innovation Behind Holo
Holo is not just a marketplace; it’s a distributed cloud hosting platform that enables regular internet users to access peer-to-peer Holochain applications. Anyone with a PC can become an app host and earn payments for hosting these distributed apps.
Recently, Holochain has seen a surge in adoption, with several brand new Holochain applications (hApps) gaining traction. The platform was designed to offer developers the ability to create lower-cost and more flexible alternatives to traditional blockchains. It boasts a lower price point, does away with the typical consensus algorithm, and ensures quick transaction closure thanks to the Distributed Hash Table (DHT).
Aiming for a “More Human Internet”
One of Holochain’s key selling points is empowering users to take control of their own data, thereby creating “a more human internet” and breaking free from corporate control. Unlike traditional blockchains, Holochain doesn’t rely on mining or stakes. The energy required to produce Holo tokens is significantly lower than that of blockchain-based systems. Holo’s platform revolves around “individual source chains,” independent nodes that validate each other, allowing hosts to run multiple full nodes even on mobile devices.
The Flaming HOT Patent
In March, Holo Limited announced the grant of a US patent on Holochain, the company’s distributed application framework. This patent fueled the remarkable price surge of HOTcoin. Holo’s primary feature lies in not depending on cryptocurrency miners or a global ledger to verify transactions. Instead, transactions are recorded on individual nodes of each user, resulting in faster transactions and increased network capacity.
Holo’s founders clarified that filing for a patent was a defensive move. While they remain willing to share their revolutionary technological innovations within the Holochain open-source framework, the patent ensures protection against potential patent trolls aiming to hinder implementation. It also bolsters the Cryptographic Autonomy License, securing end-users’ data sovereignty.
Holochain Gains Traction in the European Union
The European Commission acknowledged Holochain’s potential to transform cultural and creative industries through digital technology, which led to the inclusion of Holochain in France’s Ministry of Culture’s program. The platform’s decentralized nature allows users to explore various organizational structures while retaining control over their data, promoting the vision of a more humane and regenerative internet.
HOT Token: Analyzing the Price
Taking a closer look at the HOT token’s performance, we find that it currently trades at $0.0082 with a 3.66% increase in market capitalization over the past 24 hours. However, the last month has seen a 40% downtrend in the price. Despite this, the HOT coin’s value has surged 1316% from its 52-week low point of $0.00053 over the year, making it a successful performer during this period.
Technical Analysis: A Potential Bullish Reversal?
While the HOT coin price recently faced rejection near the $0.015 mark, the formation of a morning star pattern suggests a potential bullish reversal. However, the coin’s price remains below the crucial EMAs – 50, 100, and 200 – while the 50 and 100 days EMAs exhibit a bearish crossover in the daily chart. Nevertheless, the MACD indicator shows a bullish crossover of buyer’s and seller’s lines, and the RSI indicators indicate a reversal from the oversold zone’s boundary, supporting the theory of a bullish start to 2022 for the HOT coin.
Holo (HOT) Price Predictions: Looking Ahead
Based on current technical analysis, the Holo coin price shows potential for a bullish reversal from the $0.0075 support zone, reaching a high of $0.01 in the coming year. By October 2022, there is a possibility of the token’s value hitting the $0.035 mark. Over the next few years, Holo can expect to make its way into the top 25 coins in the crypto-verse, with the coin price reaching $0.075 by 2024 and eventually breaking the $0.1 barrier by the end of 2025.
Market Sentiment: What Do Experts Say?
According to various sources, the future of the HOT coin appears bright. Digital Coin Price predicts a value of $0.025 by the end of 2025, while Gov Capital forecasts a crossing of the $0.016 mark by next year, with a potential rise to $0.0793 in the next five years. PricePrediction.net is also optimistic, projecting a price of $0.035 after five years and a remarkable $0.25 by the end of 2030.
Conclusion: Holo’s Potential and Future Prospects
Holochain presents an innovative and distinct product that sets it apart from traditional blockchains. While it’s challenging to label it as an actual blockchain, its creators claim it to be more secure, personalized, and faster than Ethereum. To realize its breakthrough potential, Holo needs to offer valuable solutions, possibly exploring DeFi and NFT directions. Despite uncertainties, Holo’s position as the cryptocurrency for regular internet users positions it well to thrive in the next five years.
Though long-term predictions for cryptocurrencies require caution, the increasing acceptance and traction Holo gains within the communication landscape could indeed lead to a promising future.