Helium Mobile

United

Helium

Gains

Coin

After the market’s extreme overreaction yesterday, Helium, and the entire crypto market, booms in value. According to the <a href="https://www.coingecko.com/en/coins/helium" target="_blank" rel="noopener nofollow">latest</a> market data, HNT rocketed up by 31% in the past 24 hours representing a strong flip from bearish to bullish.&nbsp; 
Helium’s recent performance can be attributed to a strong investor base, built over the years by constant innovation that was only overrun by <a href="https://www.investing.com/news/economy-news/us-recession-worries-surge-again-what-is-in-the-data-3555978" target="_blank" rel="noopener nofollow">market anxiety</a> since the market’s correction phase. Despite this, the platform has continued to innovate despite the lingering bearishness still felt today.&nbsp; 
<h2 id="strong-helium-mobile-users-skyrocket-bringing-hnt-mainstream-strong">Helium Mobile Users Skyrocket, Bringing HNT Mainstream&nbsp;</h2> 
Since its launch in 2023, Helium Mobile continues to rise as one of the most mainstream crypto-base products in the market. With Helium’s entry into the telecom industry, its mobile arm has <a href="https://hellohelium.com/stats" target="_blank" rel="noopener nofollow">garnered</a> 106,765 signups with a little under 15,000 hotspots deployed.&nbsp; 
This is huge. With Helium Mobile leveraging the network’s established web of hotspots around the globe may open more opportunities for the platform to establish itself within the retail space. As of writing, the Helium network <a href="https://explorer.helium.com/stats" target="_blank" rel="noopener nofollow">boasts</a> 380,629 hotspots, accounting for the total number of LoRaWAN and 5G devices.&nbsp; 
<img loading="lazy" decoding="async" class="size-full" src="https://www.tradingview.com/x/xLXk7Aq9/" width="1835" height="883"> 
Mobile’s entry into the telecom industry was smoothened further by its Carrier Offload Program. The program <a href="https://hellohelium.com/stats" target="_blank" rel="noopener nofollow">enables</a> users from different carriers to connect with Helium hotspots. As expected, the user count on this metric is higher with nearly 300,000 users from several carriers using only 39 hotspots.&nbsp; 
With the average phone plan price in the United States becoming more <a href="https://www.whistleout.com/CellPhones/Guides/average-phone-plan-price" target="_blank" rel="noopener nofollow">expensive</a>, a new alternative, albeit small and somewhat in the works like Helium Mobile remains an attractive deal for the average Joe.&nbsp; 
<img loading="lazy" decoding="async" class="wp-image-633402 size-full" src="https://www.newsbtc.com/wp-content/uploads/2024/08/a_02c533.png?resize=1024%2C177" alt="" width="1024" height="177" srcset="https://www.newsbtc.com/wp-content/uploads/2024/08/a_02c533.png?resize=1024%2C177?w=1842 1842w, https://www.newsbtc.com/wp-content/uploads/2024/08/a_02c533.png?resize=1024%2C177?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/08/a_02c533.png?resize=1024%2C177?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/08/a_02c533.png?resize=1024%2C177?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/08/a_02c533.png?resize=1024%2C177?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/08/a_02c533.png?resize=1024%2C177?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/08/a_02c533.png?resize=1024%2C177?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"> 
This translates to an increased use of the network which correlates with an uptick in data credit (DC) burning. Messari’s <a href="https://messari.io/report/understanding-helium-a-comprehensive-overview" target="_blank" rel="noopener nofollow">recent</a> overview of Helium shows that the network is currently experiencing strong growth in the burning of DCs, contributing to the network’s finances. 
<h2 id="strong-hnt-turning-point-or-false-flag-strong">HNT: Turning Point Or False Flag?</h2> 
Current market conditions are unpredictable. Market volatility increased because investors and traders realized they had overreacted to the market correction and interpreted it as a hint of further sell-off, creating a self-fulfilling prophecy. 
<img loading="lazy" decoding="async" class="aligncenter size-full wp-image-633415" src="https://www.newsbtc.com/wp-content/uploads/2024/08/a_f01df1.png?resize=566%2C314" alt="" width="566" height="314" srcset="https://www.newsbtc.com/wp-content/uploads/2024/08/a_f01df1.png?resize=566%2C314?w=566 566w, https://www.newsbtc.com/wp-content/uploads/2024/08/a_f01df1.png?resize=566%2C314?w=460 460w" sizes="(max-width: 566px) 100vw, 566px" data-recalc-dims="1"> 
As of writing, HNT is back on top of its May levels which can sustain a small breakthrough towards $4.919. With the market’s current jitters, HNT bulls face market volatility coupled with strong market anxiety.&nbsp; 
But with the <a href="https://www.investing.com/news/commodities-news/gold-prices-slide-from-near-record-highs-as-stock-markets-rebound-3555991" target="_blank" rel="noopener nofollow">similar</a> phenomenon happening within equity markets, we might see a return to bullish attitude in the next few weeks.&nbsp; 
Investors and traders should exercise caution, keeping an eye on the performance of the broader crypto market before making a move. The bulls are expected to hold on to $4.439 as a support before any movement upward. 
Featured image from Pexels, chart from TradingView

Helium (HNT) Stays Afloat With 31% Gains Amid Crypto Market Mayhem

Table of Contents

NewsBTC

Other articles published on Aug 6, 2024

How Sologenic’s XRPL Integration Could Propel the XRP Price and Influence the Financial Technolog...

MultiversX (EGLD) Faces Pressure Near Demand Zone: Can Bulls Prevail

DJT 'TrumpCoin' Allegedly Launched By Martin Shkreli With Barron Trump's Help Tanks 98%

WEMIX Policy Update

Donald Trump Launches Bitcoin-Themed Sneakers, Quickly Sell Out

Economist Predicts Crypto and Stock Surge

Join our free newsletter for daily crypto updates!