This Cryptocurrency is Defying the Bear Market with 235% Rise in a Month

Crypto market is in deep red currently and in a prolonged bear market since hitting peak in December 2017. Just today, top cryptocurrencies saw a bloodbath as Bitcoin is down 3 percent and other top cryptos are free falling 5 to 10 percent.

Meanwhile, there is one cryptocurrency which is not only one of the top gainers amidst the ongoing onslaught of bears but has been for over 2 months now. This cryptocurrency is too “HOT” right now.

Currently at 27th position, Holo (HOT) is trading at $0.001413 with 24-hours gains of 16.93 percent. In the BTC market, it is up by 21.81 percent while in the ETH market as well, it is surging by 26.70 percent.

Holo 5-days price chart, Source: Coinmarketcap

Just yesterday, Holo has been on 32nd position and during its less than a year cycle, it has been mostly in the greens. With the rate Holo price is surging, it won’t be far off when it will be reaching a new peak after last time’s $0.001943.

In the past month, Holo has gone from $0.000485 to the current $0.001626, today’s highest at one point. During this period, HOT has seen a surge of more than 230 percent while other cryptocurrencies have been in the red.

Crypto trader, Moon Overlord had this to say about Holo as it defies the bear market,

With a market cap of $188 million, it is currently managing the daily trading volume of $43 million. According to Coinmarketcap, it is listed on the biggest crypto exchange Binance including Fatbtc, Hotbit, Bilaxy, IDEX, ABCC, GDAX, CoinX, and WazirX among others primarily with BTC and ETH trading pairs.

Holo is the first application built on the Holochain. According to its website,

“Holochain enables a distributed web with user autonomy built directly into its architecture and protocols. (…) With digital integration under user control, Holochain liberates our online lives from corporate control over our choices and information.”

It aims to help people own their own data, control their identity, transact without centralized systems, Connect applications to suit their needs, and build lighter, faster, cheaper applications. While Holo,

“is a cloud hosting market for distributed applications,” that has been touted as a bridge to the new Internet which “does to web hosting what Airbnb did to hotels.”

There is a lot of excitement regarding Holo and Holochain among the crypto enthusiasts. As one such enthusiast shared,

“The most unexpected outcome: the sudden death of blockchain as money pours into DHT. Ethereum-killer quickly grows into blockchain-killer.” #holochain.”

Despite seeing more than 15 percent surge in the past few days, this digital asset has yet to drop back as usually happens after a good surge like this. Looks like this cryptocurrency is all set to make its all-new all-time high (ATH).

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