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Holo (HOT), the crypto token that powers the non-blockchain-based peer-to-peer decentralized application hosting platform Holochain, has been on fire on Friday. The cryptocurrency was last trading about 5% higher near $0.0022, having jumped as much as 16% earlier in the session, with monthly gains now standing around 57%.
The spike in HOT, which saw Holo hit its highest level since August earlier in the day, was triggered by excitement that Holochain’s team have finally launched a beta version of the platform, “our first major leap in Holochain development of 2023”.
Get ready for a game-changer! Holochain Beta is out—the next step of our Holochain Beta release sequence, and our first major leap in Holochain development of 2023. 🥳 🎉 Let’s walk through what this means. https://t.co/joLbqsXFq4
— Holochain (@holochain) January 26, 2023
“You know those things you’ve wished #Web3 could do, but it’s been too slow with expensive gas fees? Let’s get them launched on @Holochain! Fun times ahead!” quipped crypto platform designer Arther Brook on Twitter.
It has taken much longer than I wanted, but I’m really excited to be able to start building cool apps on #HolochainBeta.
You know those things you’ve wished #Web3 could do, but it’s been too slow with expensive gas fees? Let’s get them launched on @Holochain! Fun times ahead! https://t.co/gerJJJiErh
— Arthur Brock (@artbrock) January 27, 2023
Holochain announced that, alongside the release of the beta version of its platform, a security audit of the platform’s Deterministic Integrity had also been successfully carried out by @LeastAuthority.
🙌 Alongside the Holochain Beta release, we are pleased to announce that the #securityaudit of the Holochain’s Deterministic Integrity (HDI) has been successfully completed by @LeastAuthority.
See the full report 👇https://t.co/LopwDLDrk4
— Holochain (@holochain) January 27, 2023
Where Next for HOT?
HOT’s latest surge to multi-month highs marks the first time since 2021 that the cryptocurrency has been able to post a new quarterly high that was higher than the last. Indeed, in wake of the cryptocurrency’s recent surge to the north of its 200DMA, it looks like 2022’s bear market might well be over.
The fact that HOT also managed to break decisively above a long-term downtrend from the 2021 record highs also adds to the idea that the 2022 bear market might well now be over. The next major bullish target for HOT is a retest of the August and June 2022 highs just under $0.0030. That would mark a roughly 30% rally from current levels – a highly feasible move given the sorts of rallies being witnessed across the altcoin space at the moment.
Holo Alternatives
Investors looking to benefit from the potential growth of Holochain’s promising decentralized application hosting platform as the decentralized finance/application space grows should consider investing in HOLO. But those who are more interested in benefitting from growth in the cryptocurrency gaming sector might want to look elsewhere.
InsideBitcoins recently reviewed an up-and-coming project called Meta Masters Guild, which is billed as potentially one of the fasted mobile-based web3 gaming platforms of 2023. The play-to-earn (P2E) game rewards players with cryptocurrency and users can participate with non-fungible tokenized (NFT) characters.
Meta Masters Guild has so far managed to raise an impressive more than $1.5 million in the presale of its MEMAG token, which some analysts are predicting could explode when launched on centralized cryptocurrency exchanges in the coming months.
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