The Holo cryptocurrency has experienced a significant growth in its value in the past week. The value of the currency has doubled in the past week and has become one of the most talked-about currencies available, especially as it is growing in popularity and is easier to find today.
On July 17, the currency had a market cap of around $56 million with the value of each coin being 0.0418 cents.
The value has progressively grown to where it reached a market cap of nearly $130 million on Monday. The value of each coin doubled as well to 0.0949 cents. This makes for the first major rise in the currency’s value in recent time as it continues to grow in popularity.Advertisement
The currency has also grown to where it had a 24-hour trading volume of more than $10 million for the first time in its history. The currency specifically had a trading volume of around $12 million on Monday.
The growth has come about in spite of how Holo is not accessible on all that many exchanges. A majority of trading for Holo took place on the IDEX exchange, although Hotbit and Fatbtc have been trading the currency in recent time as well.
But the biggest impact may come from how Binance has added Holo onto its platform in recent time. The increased exposure of Holo to the public has helped to make the currency more inviting to many people who are interested in trading the currency around the market.
What Is Holo?
The concept behind Holo has also become more popular with the public in recent time, thus resulting in the coins associated with Holo being traded more often. Holo is designed with cloud computing functions in mind. Holo allows hosted and distributed applications to be secured on cloud networks, thus making it easier for developers to host their programs. The programs generated can be hosted on laptop computers and mobile phones as well as one dedicated hosting devices.
Developers can produce Holo applications with the Holochain system. The blockchain supports cloud networking programs and functions. The applications can be accessed from a web browser on many devices and computers. An end user can then install the application through a decentralized app by using a URL. People do not need to install any Holochain software programs to get this to work for their needs, thus being easy for all to utilize.
The tokens produced by Holo can be acquired by those who operate Holo hosting software. This works through dedicated Holo devices and can install Holochain nodes. By offering added computing capacity, Holo tokens will be provided to the person who supports the system.
The number of tokens produced by Holo has been growing as the system continues to become popular. About 177.6 billion HOT tokens will be provided to people. Around 133.2 billion of those tokens are in circulation at the moment. This ensures that people who participate in the Holo blockchain and offer their support for its growth will be rewarded with tokens that may potentially rise in value.