Some altcoins are seeing strong and consistent bullish sentiment from their traders today, and Helium is one of them. The latest market data show that the token has risen nearly 41% since last week.
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This is largely supported by ongoing efforts to make the network robust and usable in everyday life. This is Prohibited in the telecommunications industry also helped to maintain this dynamic in the long term.
Helio: mobilizing the user base
Helium’s mobile arm is the reason HNT is on top of its game this week. Last week, July 16th, Helium Mobile announced that the platform reached the 100,000 subscriber mark. This influx of users also drew attention to the Helium network as a whole.
🎊 We just hit 100,000 signups! 🎊
We want to say a huge thank you to our community for helping us reach this insane milestone!
Together we are innovating the telecom industry 🙌 pic.twitter.com/Fb5lvQ1Mni
– Helium Mobile ☁️🪿🥚 (@helium_mobile) July 15, 2024
According to your websiteaccompanying the 100,000 users who joined is the deployment of almost 15,000 access points in the same period. Helium Mobile also has a Carrier Offload program that, although still in beta, has already shown promise with more than 190,192 offload subscribers.
The Carrier Offload program allows non-Helium Mobile users to connect to hotspots that are part of the beta deployment. This development will help the network, slowly but surely introducing it to the general public.
Even if the Carrier Offload program is discontinued, Helium Mobile’s aggressive pricing of $20 per month will make it competitive for the average consumer, which will introduce it to the wider Helium ecosystem.
Optimistic? Not so much…
As the market progresses, the sudden surge in HNT price will eventually stall and ride a downward wave. Long-term holders of the token will see this extreme jump as a signal to sell and push the token towards the support line at $4,465.
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This leaves the bulls in an awkward position: hold or join the bearish wave and then anchor at the $4,465 line. If HNT drops to the $4,465 line and the bulls manage to defend that level, the $8 ceiling could be within reach.
This, however, is if they are successful in their defense. If the ears win the stalemate in the coming days, they could bring the token down to $3 or $2.
But in terms of volatility, it could also help them reach the $8 line if they are lucky. Helium’s innovation in the telecom sector will help secure the much-needed investor confidence to ride the upcoming wave.
SVET featured image, chart from TradingView