Helium (HNT) Price Rises 4% Amid Network Growth

Helium (HNT) is trading around $2.38, up 4% in the past 24 hours, outperforming a largely flat broader crypto market. The token’s price increase follows the network reporting impressive third-quarter results, including annualized revenue of $18.3 million and a 196.6% quarter-over-quarter increase in average daily Data Credit (DC) burns to $30,920. The burn of 100% of Mobile Virtual Network Operator (MVNO) subscription revenue significantly strengthened token burn dynamics.

Helium’s ecosystem continues to expand, with unique daily device connections reaching 1.2 million, a 35.4% increase. A recent governance proposal, HIP 147, boosted the share of HNT emissions to data-transferring hotspots from 40% to 60%. Regular weekly burns averaging $400,000 to $500,000, totaling roughly 850,000 HNT (worth about $2 million) in the past month, have bolstered investor confidence.

The current market capitalization of HNT is $454 million, with strong support previously maintained around the $2 mark. Analysts suggest a break above $3.40 could signal a mid-cycle recovery, with potential resistance near $8.68 and a key imbalance around $20.

While Helium experiences upward momentum, a new project, Subbd, is drawing attention in the digital subscription sector. Subbd connects influencers with fans, utilizing Web3 technologies, including distributed ledgers and AI, to enhance creator-fan interaction. The platform’s crypto presale has already raised approximately $1.34 million.

Disclaimer: The information provided is for informational purposes only and does not constitute financial advice. Always conduct thorough research and consult with a professional before making investment decisions.

Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility.