Solana-Powered Helium (HNT) Spikes By 145%, Analyzing The Drivers Of The Surge
07 December 2023 - 4:00AM
NEWSBTC
Helium (HNT), a decentralized network launched in 2019, has
experienced significant gains across multiple timeframes, making it
one of the top performers in the cryptocurrency market. This price
surge comes alongside Solana’s (SOL) remarkable 56%
increase over the past 30 days and other protocols built on
Solana’s network. HNT has achieved staggering gains over the past
30 days, surpassing 147%. This remarkable growth has continued with
gains of 101% and 45% over the past fourteen and seven days,
respectively. In the 24-hour time frame alone, HNT reached a
high of $5.008 and experienced a remarkable surge of 53%, a level
not seen since October 2022. But what are the main catalysts behind
this spike? Helium’s Mobile Service Launch Ignites HNT Investor
Frenzy The recent surge in HNT’s price can be attributed to the
announcement made by the Helium network on December 5. The network
revealed that users across the United States can now enjoy
unlimited data, voice, and text services for a monthly fee of $20
through their newly launched mobile service. Related Reading:
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According to recent reports, Helium Mobile, a subsidiary of Nova
Labs, introduced this no-contract nationwide mobile service, aiming
to provide consumers with an affordable and unrestricted mobile
experience. This move comes when major carriers have been
imposing data limits, increasing contract obligations, and raising
prices, making Helium’s offering particularly appealing to users
seeking more flexible and cost-effective options. By offering
unlimited data, voice, and text services for a flat fee of $20 per
month, Helium Mobile aims to address the growing demand for
affordable and unrestricted mobile connectivity. According to
the announcement, the company aims to empower customers by putting
control back into their hands, challenging the practices of
traditional carriers. CEO Amir Haleem Calls For Transparency In
Mobile Industry Amir Haleem, CEO of Nova Labs, emphasized the
company’s belief that cell phones are essential and that unlimited
data, text, and calls should be standard offerings. Haleem
criticized carriers for concealing high subscription rates, roaming
fees, and additional data charges behind seemingly attractive phone
upgrade options that often lock customers into costly plans for
extended periods. In addition to its mobile service, Helium Mobile
supports a people-powered coverage model, allowing customers to
become network owners and operators. Like platforms like Airbnb or
Uber, the company believes that “reducing monopolies” and
empowering customers can improve service quality, lower costs, and
overall benefits for all stakeholders. Related Reading: Crypto
Analyst Predicts Dogecoin Price Pump Of Epic Proportions To $0.7,
Here’s When As the demand for reliable and affordable mobile
services grows, Helium’s approach has positioned it as a key player
in the industry. This announcement has propelled HNT’s price upward
as investors recognize the potential of Helium’s approach in the
mobile service sector. The trading price of HNT stands at $4.153,
marking a significant breakout from its downtrend structure of the
past 11 months. The cryptocurrency is now targeting its next
resistance level at $4.70. However, should HNT fail to
surpass this resistance, it will be crucial for the coin to
maintain support at the $3.00 level to sustain its current bullish
momentum. Featured image from Shutterstock, chart from
TradingView.com
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