Helium (HNT) Falters 15% As Crypto Market Tries To Bounce Back
11 Ottobre 2024 - 6:30PM
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While Helium Mobile has enjoyed phenomenal success, the network has
failed to keep pace, with the general market pulling it down
further and with losses being multiplied as the market drops low.
According to the latest market data, HNT, the native token of the
network, dropped about 15% over the last two weeks which may
endanger winnings pocketed in the last month. Related Reading: $6
Million ETH Sale: Ethereum Foundation Joins Whale Liquidation
Frenzy However, investors and traders are banking on recent
developments that might turn the tide once the market recovers from
its pitfall. With these recent developments, gains might be around
the horizon although investor sentiment remains shaky at best and
bearish at worst. Helium-Ameriband Partners To Expand Helium
Network Helium recently announced that it has partnered with
Ameriband, a market leader in Wi-Fi infrastructure in the United
States. According to Helium’s recent blog post, the partnership
will bring 100,000+ data-only hotspots around the US, expanding the
network’s coverage over the country overnight. Exciting News
for Helium Mobile Users! 👏 Ameriband today announced its
partnership with @helium_mobile to add 100,000+ Data-Only Hotspots
to the Helium Network in the next few months across the US. These
Hotspots will help deliver faster, and more reliable coverage to
users… — Helium🎈 (@helium) October 9, 2024 “Ameriband’s vast
network is deployed in well-known retail businesses, grocery
chains, venues, and commercial locations across the country and
will help drive usage to the Helium Network. Thanks to this
partnership, anyone with a Helium Mobile phone plan will experience
connectivity in even more locations than before,” stated Helium in
the blog post. This came as a massive win for Helium as the
network expansion nearly guarantees connectivity for US users. This
means that Helium users who previously experienced connectivity
issues will have fewer or zero problems regarding connectivity in
the coming weeks and months. It also ensures that the average
retail user will have exposure to the Helium network, possibly
adding on the growing number of users of the platform’s mobile
arm. The carrier offload program caters to 130,274
subscribers from three different network providers with over 122 TB
of data routed to the Helium network, figures that will continue to
grow as the Ameriband partnership takes effect. Rising
Correlation With The Market Leaves Gains Behind For HNT HNT bulls
are in the middle of an attempt to retest the current $6.79
resistance level. As of writing, HNT is still on the down-low with
the token possibly taking another dive toward $6.23 in the coming
days or weeks. The relative strength index (RSI), however, is
hinting at a possible bullish reversal within this week or the
coming week. Related Reading: Cardano Surges In Strength—Now
10x More Powerful, Analyst Says However, the rising market
correlation with the broader market might endanger the token’s
bullish momentum that is currently building up. With this in mind,
HNT might continue to stabilize between the $6.23-$6.79 trading
range in the coming days but may drive down toward $6.23 or $5.67
if the bears remain superior in the coming months. Featured
image from Pexels, chart from TradingView
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