As all cryptocurrencies continue to lose value left, right, and center, it seems the overall excitement deflates along with it. The markets which proved to be profitable a few weeks ago are now just bleeding value like the rest. In the case of the Holo price, the pressure is getting very intense lately. Fresh steep losses across the board bring the price down to $0.001163.

Holo Price Slips Down the Slope

Although it was to be expected, the Holo value momentum could not be sustained for very long. Despite seeing some very prominent gains in recent weeks, the bearish pressure has increased in a significant manner as well. This has become more than apparent over the past week, even though the uptrend still seemed intact as of yesterday. Today, the steep drop off is becoming more apparent by the hour.

Over the past 24 hours, the Holo price has declined by 10.7% in USD value. There is also a decline of 9.3% in BTC value and a 7.2% deficit in ETH value. This is one of the few currencies losing less value over Ethereum compared to Bitcoin, for some reason. Even so, that alone is not sufficient to keep the value above 35 Satoshi or $0.0012. Instead, the drop to $0.001163 may very well be the beginning of what is yet to come for this altcoin.

Paul Jones would like to see Holo and Cardano be added to the Wirex application and wallet infrastructure. While that request makes a lot of sense, the company hasn’t confirmed – nor denied – they are looking into this matter as of right now. There will be an app update later in February, although the specifics remain somewhat unclear. Even so, there may be some surprises around the corner, for all one knows.

The big news of this week is the impending launch of HoloPort. This technology has been touted for quite some time now, yet it seems an actual release date is almost upon the community. It is expected this plug-and-play device will be in high demand to support the distributed internet. Definitely something worth keeping an eye on, as physical crypto-related products are always interesting.

Last but not least, there is still a lot of excitement for the Junto project. This new decentralized form of social media is currently being funded through a Kickstarter campaign. Junto will make use of Holo’s infrastructure, including Holochain and potentially the HoloPorts mentioned above. So far, the campaign has seen mild interest, but there is always room to raise more money.

Even though things are coming together nicely behind the scenes of Holo, the actual price isn’t moving in the same direction. This is not too surprising, as there has been overwhelming bearish pressure on the industry as a whole. As such, it isn’t surprising to see this momentum affect Holo as well, albeit that may only be temporary, for the time being.

This article appeared first on The Merkle.


Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.

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