HOT jumps 34% amid crucial Holochain ecosystem developments

holochain hot price rally
“HOT jumps 34% amid crucial Holochain ecosystem developments” Image by James Vaughan via Flickr
  • HOT/USDT pair logged 34% gains on Sunday.
  • Recent Holochain platform improvements and new releases fuelled the rally.
  • RSI is in an uptrend, implying further upsides for the HOT token.

BENGALURU (CoinChapter.com) – Holochain’s native token HOT defied the ongoing bearish cryptocurrency market sentiment by notching 34% gains on Sunday. Explosive buying pressure pushed the HOT/USDT pair up from $0.01 to $0.0156 as the platform’s developers released important updates, thereby boosting the token’s bullish sentiment.

Progress on the Elemental Chat public release timeline also further supported HOT’s bullish bias. The chat app runs as a hosted application on Holo and an independent node using the Holochain Launcher.

Related: Holo Price Follow Up 18: A new messaging app feature boosts HOT demand hopes

Holochain Updates And Elemental Chat

Ecosystem Upgrades

In the recent releases, developers sorted out several technical issues in the end-to-end, open-source P2P app framework. Gossip improvements spanning two versions (0.0109, 0.0.110) were a major highlight of the updates. Gossip is a peer-to-peer communication protocol followed within the Holochain ecosystem.

Also, the platform can now process 50 validations at the same time. A significant setup from previous versions, concurrent validations eliminate processing inefficiencies. In detail, the feature comes in handy when some “validations are slowed down waiting to retrieve DHT data.” DHT is short for Distributed Hash Table.

But, the most significant release that got bullish hopes high for the HOT/USDT pair is the release of Sweettest. It is a Rust-based testing framework for Holochain apps.

Related: Holo Price Follow Up 14: HOT/USDT charts say it’s a “buy”

“The Holochain dev team created it for testing Holochain and its various subsystems in different scenarios. And because it’s written in Rust, they can test everything from within one language ecosystem with simpler tools for automation and continuous integration.”

Sweetest raison d’etre from “Three More Holochain Releases

Sweettest’s release comes when the peer-to-peer computing network’s primary focus is sharding and scaling.

Elemental Chat

Also, Sweettest would augment testing of Holochain in large networks and help developers analyze disruptions. The platform can then be upgraded accordingly to handle public access to hosted apps like Elemental Chat.

The Holo-native chat application showed up a few issues in an interoperability test.

“What we’re looking for is relatively equal performance when users are taking the same actions —How long does it take to receive messages? What happens when nodes go offline and come back online?”

said the Holo team

The Holo team affirmed the continuation of testing amid the nearing of the public release date. Elemental Chat’s expanded release process will take off next week.

HOT/USDT Technical Setup

The HOT/USDT trimmed gains as sellers showed up on Monday to book profits off the latest upside jump. A 13.3% dip led to the token pair revisiting $0.013. However, $0.01 provides strong support for falling prices and is unlikely to yield under bearish pressure.

HOT is undergoing a selloff but bullish cues still exist
HOT is undergoing a selloff but bullish cues still exist. Source: HOTUSDT on TradingView.com

HOT’s price trend and relative strength index (RSI) both follow an uptrend, which implies that the latest dip will be bought by bulls soon. Buyers aimed for $0.016 but fell short of juice. But the next leg of the rally would probably lead to HOT/USDT closing above the said price. All the more, as the token pair is following an Ascending Channel formation.

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