Helium: Development Proposals Ignite 15% HNT Price Rally – Details
28 August 2024 - 8:00AM
NEWSBTC
Helium (HNT) is continuing its upward trajectory despite the market
dip. According to CoinGecko, the token is up nearly 15% since
yesterday, sparked by the recent on-chain developments that will
expand on Helium’s decentralized physical infrastructure (DePIN).
Related Reading: Solana’s Popcat Balloons 96% In A Week – The New
Token To Watch? Recently, Helium’s official X account announced the
voting period for two crucial proposals for Helium Mobile. Aptly
named HIP 130 and 131, these two proposals have sparked speculation
for HNT’s near-future performance. Helium Proposes New Security
Measure Against Malicious Activity HIP 130, titled ‘Data-Only
Hotspots’, proposes that the network should expand its reach by
using any hotspot that uses passpoint authentication. These devices
may come from non-certified Helium Hotspot vendors. These new
hotspots will act almost exactly as their Helium-made counterparts,
except that they will be used to pass already paid-for data. Users
of this new type of hotspot will be rewarded with MOBILE, one of
the tokens inside the Helium ecosystem. In addition to this,
HIP 131, named ‘Bridging the Gap Between Verification Mappers and
Anti-Gaming Measures’, will implement a new system to protect the
reward system of the network. The proposal is an “extension” of HIP
125 (Temporary Anti-Gaming Measures for Boosted Hexes) and amends
the latter to better protect the network. The new system works by
limiting the Oracle Hex boosts in points of interests (PoIs),
reducing the rewards multiplier if a hotspot engages in malicious
activity. To regain the boost, that hotspot only needs to submit 1
accurate Call Detail Records (CDR). As of writing, both
proposals are still under voting with only 11 hours left for the
community to engage on. Related Reading: New ATH Incoming? Expert
Says PEPE Poised For ‘Humongous’ Breakout HNT To Stabilize Between
$6.8 And $7.5 As of writing, the token is trading well between $6.8
and $7.5 with the momentum on the side of the bulls. The current
trajectory is eyeing gains well above $8 in the long run. This
significant increase in price is accompanied by a proportional
increase in HNT’s momentum. However, there might be barriers for
the budding rally. HNT’s position, although great in itself, is
barred by the dip in the market that further hinders any increase
in momentum. Helium can move by itself– only by a short while. How
short this timeframe may be is up to speculation as it can dip next
week or next month. For now, investors and traders could buy in a
small position in HNT while monitoring the broader market sentiment
which today, unfortunately, is bearish. Once the situation
improves, we will see a rally, breaking through $8 or potentially
$10 in the long-term. Until then, caution is the name of the game
to protect long-term gains. Featured image from Fortune, chart from
TradingView
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