CoinEx News: Holo (HOT) traded near $0.00038 on July 5, up more than 20% in 24 hours, while derivatives data showed about $57.7M in 24-hour futures volume, $4.9M in tracked spot volume, $4.7M in open interest and around $287,000 in liquidations. Holo provides community-owned cloud hosting infrastructure for Holochain apps; over the past two days, the team published a blog on HoloFuel and HOT’s future network utility, said it would announce the real HOT-HoloFuel migration date on a July 30 livestream, and clarified that a UK margin-trading adjustment was not a spot delisting and did not affect HOT holders.

Funding rate was deeply negative at about -1.34% per eight-hour cycle, meaning shorts were paying longs; with HOT rising against that positioning and about $287,000 in 24-hour liquidations, the move shows signs of a short squeeze rather than a rally led by aggressive long leverage.