In the world of cryptocurrencies, any unusual price behavior is often met with a lot of criticism. It seems a lot of people remain doubtful Holo sees genuine trading volume. Even so, the current Holo price continues to soar, as another massive gain has been recorded in USD, BTC, and ETH value. Keeping this momentum alive is seemingly not a challenge, as the overall trading volume is relatively promising.
Monster Holo Gains Continue to Pile Up
Just a few days ago, it became apparent the Holo value had risen by over 25%. Whereas most people would expect a major correction shortly afterward, it appears the opposite is coming true for this altcoin. More specifically, there is another very strong gain to take note of over the past few hours. This is quite remarkable in its own right, especially when considering how most people are not too convinced this trading volume and momentum are genuine.
Over the past 24 hours, there has been another 37% Holo price increase in USD value. Additionally, there is a 38% gain in HOT/BTC and a 39% increase in HOT/ETH. All of these gains are very promising. At the time of writing, one HOT is valued at $0.000958 or 27 Satoshi. If this momentum remains in place, it seems very likely Holo will hit 30 Satoshi or $0.00125 very quickly. A remarkable trend, considering how the overall market momentum is anything but promising.
Unlike what some people may think, it would appear there is at least one big Holo beholder. If Wolf of Holo is to be believed, he currently holds over 2 billion tokens, or roughly 1.4% of the total circulating supply. A very interesting development to keep an eye on, although being a whale is always risky where these small-cap coins are concerned. It also seems this user keeps all of the coins on an exchange, which means the funds can be liquidated at any given time.
Here are my $Hot Bag for unbelievers of this account is an whale of Holo.
— Wolf Of Holo (@wolf_of_holo) January 24, 2019
A lot of people are wondering why the price of Holo is moving up right now. Considering how the HoloPorts launch is the only major development scheduled for Q1, it seems unlikely this price rise has anything to do with that. Even so, this development may be more than sufficient to keep this trend going over the coming hours and days.
#Holo volume and price action is very suspect IMO.
Q1 release of HoloPorts is about the only newsworthy item, they are ranked 8th on CryptoMiso for Github activity so the are writing a lot of code.
— CryptoOutsource (@CryptoOutsource) January 24, 2019
Any cryptocurrency tends to become a lot more appealing when memes are created for it. In the case of Holo, there is one interesting GIF being shared by Michael Bond. Although it could easily apply to any other cryptocurrency on the market, it is worth taking note of regardless. These current gains have a lot of people excited, for rather obvious reasons. If this momentum remains in place, the coming days will become very interesting.
— Michael bond (@michaelpbond) January 24, 2019
As is always the case where cryptocurrencies are concerned, interesting things are bound to happen sooner or later. With this current Holo value trend in place, there is a genuine chance for further upward momentum. However, all it takes is one major bearish Bitcoin candle to send this altcoin spiraling down once again. For now, the main trading volume still originates from Binance, whereas all other exchanges see very little interest in this currency.
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.