YEREVAN (CoinChapter.com) — Holo (HOT) prices consolidate sideways in a very constrained trading range. The flat trends follow a massive move upward that, in turn, comes after months of price declines. So it appears the blockchain asset wants to resume its bull trend. And, given its recent developments, it looks to be heading in the right direction.
The keyword is “Elemental Chat” — a peer-to-peer messaging platform that intends to provide users an alternative to WhatsApp, Viber, and Facebook Messenger. Holo launched the feature in a testing phase in February. In July, it claimed that more than 200 users supported a messaging app with one another across the world.
So it happens, Elemental Chat does not have a central database—each user who runs the messaging app signs their messages to their chain. S/he then automatically posts their news to the shared database hosted by the other application users.
“What this means is that each user, when they create their credentials, are creating the cryptographic keys for their instance of the application,” wrote Holo. The project noted that even they—as the creator of Elemental Chat—can neither write chats on users’ behalf nor remove an entry for them. Excerpts:
“The only thing Holo can do, as the infrastructure provider that bridges the connection to the centralized Internet, prevents an application from being hosted on the platform. Applications of course have their own sets of rules and the creators and developers of those applications will design those.”
It’s a beginning—an experiment that could go either way based on Holo’s technical limitations. Nonetheless, what it could do now is make a bunch of hopefuls out of the current HOT speculators: no guarantees but still a startup taking baby steps towards major goals ahead.
So the Holo price update huh…
Away from fundamentals, HOT is, at best, boring crypto as of late.
HOT/USDT now tests $0.0066 as its interim resistance target while keeping its foot solid near $0.0060. That is a narrow range, giving traders no incredible opportunity even for a profitable intra-range opportunity. A leg up and bulls could shift their upside target to $0.0079, and a leg lower could have bears open short positions towards $0.0044.