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Helium (HNT) is Up 21% While the Rest of the Market is Down
01/25/2024

Helium (HNT) is Up 21% While the Rest of the Market is Down

01/25/2024
5,0

Helium (HNT) is up 21% to $7,012 at the time of writing, amid bearish sentiment all over the cryptocurrency market.

While the entire cryptocurrency market is in a slump, Helium Network's native token, HNT, is up 21% in the last 24 hours and is worth $7.012 at the time of writing.

Source and Copyright © TradingView

The growth of the coin is due to a partnership between Nova Labs, creator of the Helium Network, and telecommunications company Telefónica. The joint launch of the Helium Mobile Hotspots product is designed to improve mobile coverage for customers in Mexico City and Oaxaca. Selected Telefónica customers will be able to access the Helium Mobile Network using their Movistar SIM cards. If successful, the company will roll out the joint product to other countries in the region, according to José Juan Haro, Telefónica's chief wholesale officer.

Helium has more than 975,000 hotspots around the world, most of which are in the US, Europe, and Asia. Helium's IoT hotspots are also growing rapidly. There are about 380,000 pieces worldwide. Helium's ecosystem includes a new product, Helium Mobile. The total number of hotspots in it has reached 8,511. And in December, Helium Mobile added 20,000 new subscribers. In the same month, Helium partnered with US telecom company T-Mobile, resulting in a 50% increase in the HNT token. All of this strengthened the position of the native HNT token and spurred its growth. IOT and MOBILE tokens also saw 20% growth.

From a technical point of view, the HNT coin rose above the 50-period and 25-period Exponential Moving Averages (EMA), forming a bullish pattern. In addition, the moderate growth of HNT is indicated by the ADX index, which rose above 30. The next important level is at $7.50, once it is reached, HNT could rise to the psychological $10 mark in the near term.

This is not a one hundred percent statement. The cryptocurrency market is very volatile and unpredictable. Remember the importance of DYOR.


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The materials found on the Cryptonica website shall not be taken as individual investment recommendations. The financial instruments or operations mentioned therein may not align with your investment profile or objectives. We assume no responsibility for any missing facts or inaccurate information in the texts. Cryptocurrencies are financial assets with high risk and volatility. Therefore, it is crucial that you conduct your own research on financial instruments and make independent decisions. Before engaging in any actions related to cryptocurrency, you shall study, understand, and comply with the laws applicable in your region and country.


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