Helium Bucks Market Trend with 11% Price Surge

Helium (HNT), the token powering the decentralized network for Internet of Things (IoT) devices, defies broader crypto slump with a double-digit price increase. HNT price jumps 11% in 24 hours, reaching $5.11.

Trading volume explodes by 166%, exceeding $58 million. Helium stands out as a bright spot amidst a sea of red in the crypto market.

Helium Mobile Update Credited for Price Rise

Analysts attribute the surge to significant developments within the Helium Mobile update. Key highlights include:

• Over 62,000 new unlimited plan subscribers since January, burning nearly $3,000 of HNT daily through data usage.
• Integration testing with major carriers like AT&T and Google Orion for data offloading.
• Launch of business plans, international roaming add-on, and in-app phone plan payments.
• Improved user experience and anti-gaming measures for the network.

These advancements suggest growing adoption and utility for the Helium ecosystem.

Helium’s Position in Decentralized IoT Network (DePIN)

HNT is the native token of Helium, a leading DePIN network. DePIN utilizes blockchain technology to facilitate secure and affordable IoT communication. HNT incentivizes network operators (Hotspot owners) to provide wireless coverage and validate transactions.

HNT/USD Technical Analysis Suggests Potential Long Opportunity

Analysts like TraderAAG observe a technical breakout on HNT’s price chart, hinting at a potential long position for investors. However, a retest of the current price level is recommended before entering a trade.

Helium’s Future Outlook

Despite market uncertainty, Helium’s recent performance highlights its potential. The project’s expanding ecosystem and focus on onboarding both crypto natives and non-crypto users position it for future growth.

HNT Price History and Predictions

HNT’s price experienced significant fluctuations in the past. The 2023 migration to the Solana blockchain marked a major transition. Future price predictions for HNT vary widely, ranging from under $5 to over $188 by 2030.

ABOUT THE AUTHOR See More

Arslan Butt

Index & Commodity Analyst

Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.

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