The tokenomics behind HOLO is unique compared to market leaders, as it ignores the blockchain process and offers a path to develop and turn dApps into a live project. Holo token developers aim for a significant shift towards the everyday acceptance of crypto tokens and related technology.
Compared to miners for Proof-of-Work-based cryptocurrencies, Holochain relies on its network partners for offering storage solutions and processing power for backing the dApps. These hosts can either use a dedicated machine named HoloPort for extra processing power or run software in the background that shares the unused processing power to feed the dApps operations.
This unique setup will potentially enable billions of transactions per second in the coming years if Holochain manages to get many volunteer hosts onboard. These hosts, however, are not unpaid participants in the Holochain ecosystem but share the benefits of extra charge on HoloFuel transactions tying its growing applications with hosts on the network.
The market cap of Holochain is $1,194,454,033, with a net circulating supply of 95% tokens. Holo Token or HOT ranks 85th amongst other leading cryptocurrencies.
HOT token’s price action seems volatile as it dipped significantly in four months and gained back its value tremendously in just one month. It seems some kind of technologically advanced sorcery, but the resistance near its 200 DMA curve says a different story altogether.
The HOT token may find itself near an immediate rally scenario with a 200 DMA curve within its grasp.
HOT Near Resistance; Breakout Potential Ahead
Holochain moving ahead shows an immediate resistance near its 200 DMA curve at $0.008, while another strong resistance follows at $0.009221. The HOT token has another significant resistance at the $0.016 level, but the last proven support level is merely at $0.0037 levels.
The price of the HOT token seems like a formulating parabola that could still grow at the current rate. RSI indicator shows a slowly growing buying sentiment despite the prices hitting fresh lows over time. Volumetric transactions showed a breakout on Mar 27, 2022, when HOT claimed a huge spike in a single day.
One can expect the HOT token to consolidate near its immediate resistance for a short time before it could spike to new highs. Compared to the 2021 peaks, the volumetric transactions at HOT were much higher. Ideally, the technical indications should also improve as price trend breaches previously enlisted levels.
