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Solana-based DePIN Token Helium (HNT) Pumps 44%

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Helium (HNT)

  • Helium’s native token HNT surged 44% over a week — from $3.98 to a high of $5.57.
  • In the last 24 hours, the daily trading of HNT recorded a spike of 225%.
  • Currently, Helium upholds 401,817 decentralized mobile hotspots worldwide.

Decentralized Physical Infrastructure (DePIN) is generating buzz in the crypto community as the next revolutionary narrative in the realm. Among the projects leading this paradigm shift is Helium, a Solana-based decentralized wireless network builder. Over the past 24 hours, the protocol’s native token, HNT, has claimed a spot as one of the top gainers.

Helium (HNT) pumped over 17% to hit a high of $5.575. The token has noted a weekly surge of 44% from $3.98 to a high of $5.57. Analyzing its price chart with a 4-hour timeframe, HNT’s entry into an uptrend is underscored by a positive moving average cross (MA Cross).

Helium (HNT) 4H Price Chart (Source: TradingView)

Notably, as per the above chart, the RSI (relative strength index) of HNT enters the overbought zone. At press time, this altcoin traded at $5.33 with a market cap of $856 million. Recording a surge of 225%, HNT’s daily trading volume reached $68.2 million. 

Meanwhile, the other tokens of the Helium ecosystem also displayed positive market dynamics. First, MOBILE, the native token of Helium Mobile Network, recorded 1.65% in the last 24 hours to hit $0.002834. Second, IOT, the token of Helium IoT Network surged 15% to reach $0.001186.

How Has Helium Progressed So Far?

Last December, the Helium Foundation introduced plans to expand its mobile coverage, starting with a $20 per month plan for mobile phones in the US market. Since then, it has amassed a subscriber base of 62,463.

Moreover, the count of Helium-powered mobile hotspots in the world has risen to 401,817. Notably, the revenue of the Solana-based DePIN project has remarkably increased by 3546.7% year-to-date (YTD), rising from $35.9K to $1.31 million. 

Additionally, several other decentralized mobile plans, such as free WiFi and international roaming, have been added to encourage users to join the era of decentralized wireless mobile networks.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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