As a seasoned market analyst with over a decade of experience, I have witnessed countless altcoins rise and fall based on various factors, including community growth and industry disruption. The recent surge in Helium (HNT) is particularly intriguing, given its strong bullish momentum and the significant milestones it has achieved.
Several alternate cryptocurrencies exhibit robust optimism among their investors currently, and Helium is amongst them. Recent market statistics indicate a roughly 41% price surge for this token over the past week.
The network’s growth is primarily fueled by ongoing initiatives to enhance its durability and user-friendliness. Additionally, its foray into the telecommunications sector significantly boosted its progression over an extended period.
Helium: Mobilizing Userbase
As a crypto investor, I’m excited to share that Helium’s mobile division, specifically the Helium Mobile X account, has been driving the success of HNT this week. Last week, on July 16, we hit a significant milestone with over 100,000 subscribers joining our platform. This surge in users not only boosted the popularity of Helium Mobile X but also drew attention to the Helium network as a whole.
We just hit 100,000 sign-ups!
We want to extend a huge thank you to our community for helping us reach this insane milestone!
Together, we’re innovating the telco industry
— Helium Mobile (@helium_mobile) July 15, 2024
On their website, it is stated that approximately 15,000 hotspots have been set up to support the 100,000 new users who signed up within the same timeframe. Additionally, Hewlett Packard Enterprise’s Carrier Offload program, which is still in its beta stage, has already attracted over 190,192 subscribers.
Through the Carrier Offload program, non-Helium Mobile users can now access hotspots belonging to the beta deployment, broadening connection options. This step contributes to the network expansion by gradually introducing it to a larger audience.
If the Carrier Offload program is no longer available, Helium Mobile’s affordable price of $20 per month will still make it an attractive option for most consumers. This affordability could draw consumers in and expose them to the entire Helium ecosystem.
Bullish? Not So Much…
Based on my extensive experience in cryptocurrency markets, I strongly believe that the current upward trend in HNT’s price will not last forever. As someone who has witnessed multiple market cycles, I have learned to recognize the signs of a bubble. The sudden surge in HNT’s value is reminiscent of past price spikes, which have always been followed by sharp corrections.
The bulls find themselves facing a dilemma: they can either maintain their position or jump on the bandwagon of the bearish trend and attempt to secure support at the $4.465 mark. If successful in defending this level, a potential rise towards the $8 resistance may become achievable for HNT.
Should they manage to prevail in the ongoing dispute, the value of the token could potentially drop to around $3 or even $2 within the next few days.
From a standpoint of volatility, taking the $8 mark could be assisted by their good fortune. Helium’s groundbreaking advancements in the telecommunications industry might bolster the required trust among investors for a successful journey through the impending trend.
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2024-07-23 18:04