Binance Exchange Announces Holo Listing, Price Surges 60 Percent

2018-7-24 20:53

The price of the Holo cryptocurrency token surged more than 60 percent after Binance announced that it would add the token to its trading catalog. Binance, the top-ranked cryptocurrency exchange platform has a history of causing the price of certain tokens to skyrocket once it announces the listing of that particular token.

Holo Pumps in the Aftermath of Binance Listing

Predictably, once Binance announced the listing, the price of Holo (HOT) rose dramatically. Before the Binance announcement, HOT traded at $0.000666 but soon after the platform published the news, HOT token price increased to $0.000970. At the time of writing this article, Holo has slipped marginally to $0.000951.

At some point in the day, the price surge reached 70 percent, causing the crypto to rise from the 84th position to the 78th position based on market capitalization. Despite the price surge, HOT is still trading significantly lower than its all-time high of $0.001990.

According to the announcement by Binance, the token will be available for trading at 04:00 AM (UTC) on July 24, 2018. Binance plans to offer both HOT/BTC and HOT/ETH trading pairs. The platform also informed its users that they could begin depositing their HOT tokens for the start of trading.

About Holo

The Holo project aims to be a decentralized platform that allows users to build P2P apps. Instead of relying on a blockchain network to achieve consensus, Holo uses a series of independently developed source chains that reach consensus via a sharded distributed hash table (DHT). The Holo ICO took place in April, raising more than 30,000 ETH.

A statement on the project website reads:

“Each of us wants to have control over how and with whom we interact. In order to evolve and thrive, our communities must support everyone’s uniqueness. Yet today, our online relationships are dominated by centralized corporate websites. Holochain enables a distributed web with user autonomy built directly into its architecture and protocols.”

Most of the HOT token trade is domiciled on IDEX. However, with the Binance listing, the top-ranked exchange platform may become the de facto center for HOT token trading.

The post Binance Exchange Announces Holo Listing, Price Surges 60 Percent appeared first on UNHASHED.

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