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Hydro Protocol (HOT)

Market Cap

$8,604,617 USD

Volume (24h)

$179,293 USD

3.5
SAFETY

ranking factors

  • Markets

    How many exchanges are there to trade this coin?

    Hydro Protocol Markets Rank: 5/100

  • Volume Ratio

    How actively is this asset being traded on the market?

    Hydro Protocol Volume Ratio Rank: 2/100

  • Market Cap

    The total cost of all coins available.

    Hydro Protocol Market Cap Rank: 84/100

  • 24h Change

    Is the price moving up or down?

    Hydro Protocol 24h Change Rank: 49/100

  • Social Following

    How many users are following this coin?

    Hydro Protocol Social Following Rank: 38/100

  • Google Trends

    How many users are searching for the coin?

    Hydro Protocol Google Trends Rank: 10/100

  • Twitter Citation

    How many users are talking about this coin in Twitter?

    Hydro Protocol Twitter Citation Rank: 46/100

  • User Voting

    How popular is this coin among Cointobuy community?

    Hydro Protocol User Voting Rank: 83/100

Hydro Protocol investment analysis

The Hydro Protocol wants to jump start decentralized exchanges. The largest problem for these platforms is the fact that centralized providers control much of the cryptocurrency market's liquidity. This creates a huge barrier to adoption because traders want to trade where the most action is so as not to miss out.

HOT will allow these smaller exchanges to share their liquidity by pooling it together and then giving any exchanges within their ecosystem access to new market share by matching orders. This would allow these entities to become more powerful in the overall realm of cryptocurrency markets as a whole.

The exchanges which share their liquidity with one another will be incentivized by the platform. These players can earn tokens by participating in the liquidity pools. The tokens, in turn, can be used for membership to the pools, essentially letting them sustain this ecosystem.

It's an interesting project, and it offers the many DEXs the ability to pool their resources in a way that could make them a force to be reckoned with. A Hydro protocol investment is also an investment in the health and safety of the cryptocurrency space's future.

current price
$0.012257
Potential Profit

The tool analyzes each currency for the 6-month historical price data, searches for possible patterns and showing possible profit rate in the coming months.

+257.4%
Potential Price

The tool analyzes each currency for the 6-month historical price data, searches for possible patterns and showing the possible price in the coming months.

$0.043806
Rankings

The current coin position in cryptocurrency rankings by Safety Rank and Potential Profit.

222/877
by Safety
599/877
by Profit
historical data

How to buy Hydro Protocol?

Investors can buy Hydro Protocol from several providers, but they are not the most popular options, unfortunately. You may need to make some alternative accounts in order to purchase your assets. There is however ample trading volume on the available options, and completing a trade should be easy. US Dollar Tether is the highest volume pair surprisingly, but if you'd prefer a traditional cryptocurrency pair, then Bitcoin is a close second.

This is an Ethereum based asset, and that means that you'll need an ERC20 token compatible wallet in order to store your investment. There are plenty of options for this which will work just fine including Meta Mask, My Ether Wallet, or even some hardware wallets such as Ledger or Trezor are capable of storing these tokens. No matter which option you choose, always backup your wallet for safe keeping.

Is it safe to invest in HOT now?

If we look at the Hydro Protocol analysis we can see that this asset is still pretty under the radar. There's not a lot of activity going on yet on the charts, but many people are very excited about this particular project and what it could mean for DEXs.

While they are a little lacking in search trends, their Twitter statistics are growing. Twitter is one of the biggest hubs for transmitting cryptocurrency related information, so this is good news for those who might want to invest in HOT.

DDEX is the flagship application to be used with the HOT platform. They offer completely anonymous and secure transactions, and their exchange lacks even accounts. Instead, users utilize Meta Mask to make their trades. Pair this with the liquidity pools that will be offered by HOT, and you have a recipe for success.

While Hydro Protocol does not yet have any other partnerships, it seems unlikely that other DEX providers would refuse to play ball. Getting access to additional liquidity can only be a win for them, and it's the only way they will ever compete with centralized trading platforms.

Unfortunately, there's currently no incentive for investors to hold HOT other than waiting for price appreciation. The passive benefits of staking the tokens are reserved for exchange owners. However, if you're interested in investing in the future of free transactions for cryptocurrencies, then it may still be a good deal for you.

Investors should keep in mind that this is likely a long-term hold as adoption for this kind of technology could be slow, but if enough DEX operators get behind them, then it could create something very big for decentralized exchanges. With more and more previously privacy friendly institutions like Local Bitcoins cracking down on users by imposing KYC regulations, soon a DEX will be the only free place left for cryptocurrency.

The wild west is getting tame, but not everyone is content to just sit around and let it happen. Instead, there are projects like HOT working hard to fix the issues surrounding free crypto markets before it's too late.

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