NEO (neo) 
HNT, the native token of the Helium network, is currently leading the surge among the top 100 cryptocurrencies, outperforming other altcoins that are mostly in decline.
On August 27, the price of Helium rose by 14% to $7.17, with the crypto asset’s market cap surpassing $1.6 billion. Following this price surge, HNT’s daily trading volume increased by 160%, reaching $31 million.
The latest jump in HNT’s price comes as a community call is scheduled for August 28 at 16:00 UTC to provide updates and discussions on the Helium Network. This monthly event brings together developers, hotspot owners, and community members to discuss protocol governance and other Helium ecosystem-related concerns.
The call will take place on Helium’s Discord channel.
Recent discussions in the crypto space have focused on Helium’s potential to transform wireless infrastructure. Traditionally, large carriers had to build more cell towers to increase coverage, which required significant capital expenditure. Helium, on the other hand, offers a novel technique for increasing wireless coverage through a decentralized network of mobile nodes.
The network is reportedly in contact with two major US carriers who are testing offloading their traffic to the MOBILE network. Carrier 1 has around 185,000 customers, and Carrier 2 has over 122,000 users participating in the trial.
If successful, the carriers could save money and provide better coverage, while Helium would benefit from increased traffic and funds flowing to hotspot providers.
According to its statistics, Helium MOBILE has about 20,000 active hotspots, while its IoT solution has 360,000 locations, and these figures are growing.
Market Data and Indicators
Data shows that the HNT total open interest has jumped by 65% to $6.71, indicating a rise in trader interest in the altcoin. This suggests that new money is supporting the upward price rally.
Additionally, the total funding rates aggregated by HNT are hovering at 0.0049%, indicating traders’ bullishness on the token’s price hike.
The Relative Strength Index (RSI) is currently at 58.82, suggesting that there might be room for the price to increase before it’s considered overvalued. The Stochastic RSI, another indicator, also shows that Helium is underbought at the moment. Both indicators suggest that HNT’s price might still see a significant rally before it reaches an overbought zone, upon which the token might face a reversal.
Stay updated with more news on Global Crypto News.
