Holochain (HOT) Token Surges $70 Million in Value After New Mozilla Partnership Report
The market cap of the Holochain Token (HOT) surged $70 million in value this past week, rising to a total market cap of $165 million by mid-day Friday.
The price of HOT has been surging all week after reports of a partnership with Mozilla, creator of the popular Firefox internet browser.
By mid-day Thursday, Holochain Token HOT had surged $40 million, reaching a total market cap of $130 million. On Friday, the token experienced a similar surge, rising another 20% to reach a total market cap of $165 million. That means the market cap of HOT has roughly doubled in just a week, surging $70 million value in the past two days alone.
Today, the value of a Holochain token (HOT) sits at $0.00124. The token has a total circulating supply of around 133 billion. It’s one of the best performers on the week – and it’s all just because of rumors of a partnership with Mozilla. HOT’s brightest days could still be ahead.
What’s Behind the Holo (HOT) Price Boom?
Why is the price of the Holo Token skyrocketing? HOT is skyrocketing because of a report of a potential partnership with Mozilla, creator of the popular Firefox web browser.
The crazy thing about this partnership is that nothing has been confirmed as of yet: everything is just rumors.
The rumors state that Holochain’s developers are working on adding the Rust programming language to their platform. Mozilla sponsored the development of the Rust programing language, and the company continues to use Rust in many of its applications.
The rumors date all the way back to May of this year, when Holochain’s development team first expressed interest in using Rust to build nodes. Holochain’s developers also wanted to use Rust to help the HOT token intergrade better with web browsers.
All of this information leads to a simple conclusion: if Holochain is indeed onboarding Rust as a programming language, then it suggests the HOT token could be integrated in more Mozilla applications in the future – including the Firefox browser itself.
We don’t have official news from Holochain and Mozilla at this point. Neither company has confirmed any details of a potential partnership. What we do have, however, is various statements throughout the year indicating interest from both parties.
In August, for example, Holochain Director of Communications Matthew Schutte disclosed in a webcast that the Holochain project was in “preliminary talks” with Mozilla.
Schutte did not expand on those comments when pressed. He did, however, claim that any possible announcement of a partnership between Mozilla and Holochain would occur in Q1 2019. Schutte also added another intriguing detail, saying,
“It’s experimental, we’re working on it.”
Other Crypto Projects Already Use Rust
This wouldn’t be the first time a major crypto project uses Rust. Earlier this week, the development team of Cardano (ADA) released a sidechain development kit (SDK) designed for Rust developers.
In any case, Holochain and its Holo token (HOT) currently sit in the top 50 cryptocurrencies by market cap after rising $70 million in the past two days. That’s a huge surge in value for any cryptocurrency – and it can all be attributed to rumors of a partnership with Mozilla and the Rust programming language.
Stay tuned for more information about the surging price of Holo (HOT) over the coming weeks.