Helium currently boasts a market capitalization of approximately $943 million, securing the 86th position in global cryptocurrency rankings by market cap as per data by CoinMarketCap. In the same timeframe, HNT has traded between a low of $5.1063 and a high of $6.0536, showcasing the token’s strong performance amidst the market downturn. Founded in July 2019, Helium facilitates communication among low-powered wireless devices through its decentralized network, leveraging a comprehensive system of nodes for robust data transmission and connectivity across IoT devices.
The latest price surge in HNT follows an announcement from the Helium Foundation, which reported mixed outcomes in its latest voting results. Notably, HIP 112, which proposed scaling IoT hotspot assert fees, failed with only 42.52% approval. In contrast, HIP 117, aimed at adding MNTD as a hotspot vendor for Helium’s MOBILE subNetwork, received a robust 93.88% approval.
A re-vote for the HNT proposal is scheduled, reflecting the ongoing governance activities within the Helium community. Since the beginning of the year, the network has gained 62,463 subscribers to its unlimited plans, resulting in the daily burning of nearly $3,000 worth of HNT due to data usage on Wi-Fi hotspots. The network has also started preliminary integration testing with major players like AT&T, which boasts 223 million subscribers, and Google Orion for data offload.
Other initiatives include the launch of $20 monthly business group plans, a subscriber store for purchasing Hotspots and Pixel phones with MOBILE, and the introduction of international roaming add-ons. Furthermore, Helium has initiated a new discovery mapping feature, improved user experience, anti-gaming measures, and the launch of Helium Free Wi-Fi, which benefits local businesses while attracting new customers. The availability of SIM cards on Amazon and targeted advertising on the Solana podcast underscores Helium’s efforts to integrate more users into the crypto ecosystem, offering three months of free service as an incentive.
TraderAAG advises waiting for a successful retest before entering a long position, with the major resistance level at PML $5.89 and the support level at PWL $3.435.