As an analyst with over two decades of experience in the tech and crypto markets, I find myself intrigued by the recent developments surrounding Helium Mobile. The partnership with Ameriband, a leading Wi-Fi infrastructure provider, is undeniably a game-changer for the network, potentially expanding its coverage across the US and enhancing connectivity for its users.
Although Helium Mobile has experienced remarkable growth, its network has struggled to match this pace. The broader market’s downturn and its impact on Helium Mobile have only exacerbated the issue, leading to increased losses as the market declines. Recent market statistics indicate that HNT, the native token of the network, decreased by approximately 15% over the past fortnight, which could potentially threaten profits made during the previous month.
Nevertheless, investors and traders are hopeful about future progress due to recent advancements, which could potentially reverse the market’s downturn once it recovers. These latest improvements may signal approaching profits, but investor confidence is still uncertain and skewed towards pessimism.
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!
Today, Ameriband unveiled their collaboration with Helium Mobile, aiming to integrate over 100,000 Data-Only Hotspots into the Helium Network within the coming months, expanding across the United States.
These Hotspots will help deliver faster, and more reliable coverage to users…
— Helium (@helium) October 9, 2024
In a recent blog post, Helium announced that Ameriband’s extensive network is now integrated with various popular retail stores, supermarkets, entertainment venues, and commercial sites nationwide. This collaboration aims to boost usage of the Helium Network, providing Helium Mobile phone users with connectivity in an even wider range of locations than previously available.
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 offload program for data transfer serves approximately 130,274 users across three distinct network companies, directing more than 122 terabytes of data towards the Helium network. These numbers are expected to expand as the collaboration with Ameriband unfolds.
Rising Correlation With The Market Leaves Gains Behind For HNT
In simpler terms, the price of HNT (Helium Network Token) is currently trying to break through its current resistance level at around $6.79. However, as we speak, HNT’s price remains relatively low, and there’s a chance it could drop further towards approximately $6.23 in the near future.
In simpler terms, the Relative Strength Index (RSI) seems to be suggesting a potential shift towards a bullish trend, possibly happening this week or the next one.
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.
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2024-10-11 19:34