Helium (HNT) Surges 48% — Here’s What’s Fueling The Rally
August 13 2024 - 2:30PM
NEWSBTC
As the market action resumes, Helium keeps on surging to the top
and draws the attention of investors. According to CoinGecko, the
token is up more than 48% since last week. HNT becomes a prime
target for both investors and traders looking for an income-making
asset in the long run. Related Reading: $3 Million PEPE Gamble
Sparks Speculation Of Incoming Price Surge Helium Mobile has been
in the spotlight as it showed its reliability and strength, coming
face to face with major telecom providers in the US. Recently, it
flexed its muscles again as it announced the test of two carriers
that offload their network traffic to the platform, setting new
records once more. Carrier Offload Beta Now Out Showing Big Results
With Helium Mobile’s announcement that the Carrier Offload Beta is
now live, two carriers tested the network, bumping network
statistics up by a significant margin. 📶 Our Carrier Offload
Beta is now LIVE! You can now enable your Hotspot to be a part of
our Offload Beta in the Builder App or Hotspot Dashboard! 🛠️ Now,
subscribers from several other carriers can connect to and transfer
data through your Helium Mobile Hotspot(s).
pic.twitter.com/mlHZmQb0G9 — Helium Mobile ☁️🪿🥚 (@helium_mobile)
August 9, 2024 According to the platform’s website, the platform
saw almost 60,000 new users from the two carriers while a total of
five terabytes worth of data has been offloaded on Helium Mobile.
These numbers have been achieved with a mere 89 hotspots in total
for both carriers. The reliability of the network showed that
it can go head-to-head with major players in the telecoms industry
despite essentially being the new kid around the block. With
the focus on decentralized physical infrastructure networks (DePIN)
gaining more interest, Helium’s entrance into the telecom industry
gives consumers another affordable carrier to choose from. As both
postpaid and prepaid plans go up in price, Helium’s position as a
cheap and reliable alternative will help it grow in the coming
years. Helium Price To Stabilize At This Level
Percentage-wise, HNT has achieved something great, giving investors
and traders gains along with the general upward movement of the
market. However, it seems that the token will stabilize on a narrow
price range. Related Reading: Polkadot (DOT) Seen Reversing
Losses With 116% Rally To $10 – Analyst Investors and traders will
have to make do with the current $6-$7 price range. This can swing
both ways as it leaves both bears and bulls with little to no
wiggle room to gain momentum which means the next few days will be
crucial for HNT’s short-term viability. If the bears get a
hold of the momentum, we can expect the token to drop a few percent
towards $5.5 before the bulls regain control. But if the opposite
were to happen, HNT bulls have the opportunity to regain $8 in the
long term, that is if the bullishness continues along with a
positive attitude in the general market. However, with major
macroeconomic indicators being announced soon, investors and
traders should expect more volatility in the weeks before HNT
returns to a fair market price. Featured image from The Merkle
News, chart from TradingView
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