Helium Mobile Sees 142% Surge Amid Growing Network Activity and Mobile Subscriber Base

Helium Mobile, a decentralized mobile and wireless network, experienced a significant surge of 142% on December 2, driven by increasing network activity and growth in its mobile subscriber base.

Market Performance and Network Growth

Helium Mobile (MOBILE) reached a seven-month high of $0.00257 on December 2 during early Asian trading hours, before settling at $0.001916, marking a 78.7% increase over the past 24 hours. The altcoin’s market capitalization stood at $199.2 million, with its daily trading volume rising nearly 10x to over $193 million.

The recent rally aligns with a sharp increase in Helium Data Credits (DC) usage, which saw a significant rise in burning activity. Daily DC burned jumped by over 30%, rising from $10,606 on November 31 to $13,868 on December 1.

Crypto Rewards Program and Arbitrage Opportunity

Helium offers a crypto rewards program that allows users and Hotspot operators to earn IOT or MOBILE tokens, which can be swapped for HNT, the primary utility token used in the Helium Network.

Traders are taking advantage of an arbitrage opportunity with HNT, as the current HNT to MOBILE swap rate is around 5,000:1, significantly better than the expected final rate of 7,700:1. This has prompted investors to buy MOBILE and exchange it for HNT to capitalize on the difference, driving demand for MOBILE and indirectly boosting demand for HNT.

Growth in Mobile Subscriber Base and Network Deployment

MOBILE‘s recent bullish momentum also aligns with a continued growth in its mobile subscriber base, which surpassed 100,000 in early July and reached 121,719 by December 1. The network currently operates around 21,125 active hotspots, with its IoT solution deployed across 355,052 locations, both figures steadily increasing.

Bullish Sentiment in the Altcoin Market

The recent rally has been supported by broader bullish sentiment in the altcoin market, as Bitcoin trades sideways below $100,000. The Altcoin Season Index reached a yearly high of 75, signaling the onset of a period where altcoins outperform the leading cryptocurrency.

Technical Analysis and Price Outlook

On the 1-day MOBILE/USDT price chart, the altcoin was positioned above the upper Bollinger Band, suggesting a strong bullish trend, which will likely lead to further gains for MOBILE holders. The Moving Average Convergence Divergence (MACD) indicator revealed a strengthening bullish trend, with expanding histogram bars confirming the trend.

Both indicators suggest that MOBILE could continue to rally in the short term, potentially testing the $0.00296 resistance level, which marks a 55% rise from the current price level.

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