As a seasoned crypto investor with over a decade of experience under my belt, I find myself intrigued by Helium (HNT) and its recent surge. The token’s resilience during this market dip is a testament to its underlying potential, especially considering the positive on-chain developments like DePIN and the current voting period for HIP 130 and 131.
Despite the current market downturn, Helium’s token (HNT) is persistently climbing higher. As reported by CoinGecko, the token has seen a nearly 15% increase since yesterday, primarily due to recent advancements on the blockchain that will broaden Helium’s decentralized physical network (DePIN).
Lately, it was declared by the main Helium account on X that the voting phase for two significant suggestions regarding Helium Mobile has begun. Named HIP 130 and 131, these proposals are causing quite a buzz about HNT’s potential upcoming behavior.
Helium Proposes New Security Measure Against Malicious Activity
Title ‘Data-Only Hotspots’ suggests an idea where the network could extend its coverage by incorporating any hotspot that employs Passpoint authentication, even if these devices originate from uncertified vendors within the Helium ecosystem.
The newly introduced hotspots will function similarly to their Helium-based counterparts, with a key difference: they’ll facilitate the transfer of data that has already been paid for. Users of these new hotspots will be remunerated with MOBILE tokens, which are part of the Helium ecosystem.
As a researcher, I’m excited to contribute to the development of HIP 131, titled ‘Enhancing Network Reward System Protection: A Bridge Between Verification Mappers and Anti-Gaming Measures’. This new system aims to strengthen our network’s reward system by building on the foundation laid by HIP 125 (Temporary Anti-Gaming Measures for Boosted Hexes). Essentially, I’m working to refine and improve upon the temporary measures of HIP 125 to provide more robust protection for our 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).
Currently, both plans are being put to a vote, and there are just 11 hours remaining for community members to participate.
HNT To Stabilize Between $6.8 And $7.5
Currently, the token is doing quite well, oscillating between roughly $6.8 and $7.5. The trend appears to favor the bulls at the moment. Over time, it’s looking optimistic that we could see gains exceeding $8. This upward price movement aligns with an increase in HNT’s momentum. Nevertheless, potential obstacles may arise for this rising trend.
Despite HNT’s strong standalone value, its progress is currently stalled due to the market downturn, which also restricts any significant growth in speed. The movement of Helium is self-propelled, but this autonomous motion might only last for a brief period. The exact duration of this timeframe remains uncertain as it could dip next week or even next month.
At present, it’s possible for investors and traders to consider purchasing a limited amount of HNT, keeping an eye on the overall market trends. Currently, these trends are negative or bearish. However, as conditions improve, we may witness a surge, possibly exceeding $8 or even reaching $10 in the future. Until then, prudence is crucial to safeguard long-term profits.
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2024-08-28 01:16