The cryptocurrency market has witnessed a surge in the price of Helium (HNT), a decentralized network launched in 2019. Over the past 30 days, HNT has experienced significant gains, making it one of the top performers in the market. This impressive growth trend has continued with gains of 101% and 45% over the past fourteen and seven days, respectively. In the 24-hour time frame alone, HNT reached a high of $5.008 and experienced a remarkable surge of 53%, a level not seen since October 2022.
A Major Announcement
The recent surge in HNT’s price can be attributed to the announcement made by the Helium network on December 5. The network revealed the launch of Helium Mobile, a subsidiary of Nova Labs, which offers unlimited data, voice, and text services for a flat fee of $20 per month. This move comes at a time when major carriers have been imposing data limits, increasing contract obligations, and raising prices, making Helium’s offering particularly appealing to users seeking more flexible and cost-effective options.
Helium Mobile aims to address the growing demand for affordable and unrestricted mobile connectivity. By offering unlimited data, voice, and text services for a flat fee of $20 per month, Helium Mobile aims to empower customers by putting control back into their hands. This approach challenges the practices of traditional carriers, which often lock customers into costly plans for extended periods.
Amir Haleem, CEO of Nova Labs, criticized carriers for concealing high subscription rates, roaming fees, and additional data charges behind seemingly attractive phone upgrade options. He emphasized the company’s belief that cell phones are essential and that unlimited data, text, and calls should be standard offerings. Helium Mobile’s approach of transparency and affordability has positioned it as a key player in the industry.
A People-Powered Coverage Model
In addition to its mobile service, Helium Mobile supports a people-powered coverage model, allowing customers to become network owners and operators. This model, similar to platforms like Airbnb or Uber, aims to reduce monopolies and empower customers. The company believes that this approach can improve service quality, lower costs, and provide overall benefits for all stakeholders.
The announcement of Helium Mobile and its unique approach in the mobile service sector has propelled HNT’s price upward. Investors recognize the potential of Helium’s offering and its disruptive impact on the industry. The trading price of HNT currently stands at $4.153, marking a significant breakout from its downtrend structure of the past 11 months. As it continues its upward trajectory, HNT is now targeting its next resistance level at $4.70.
However, it is crucial for HNT to maintain support at the $3.00 level to sustain its current bullish momentum. The cryptocurrency market is highly volatile, and maintaining a strong support level is essential to avoid potential price corrections.
Helium (HNT) has emerged as a rising star in the cryptocurrency market, experiencing remarkable gains and attracting investors’ attention. The announcement of Helium Mobile and its affordable, unlimited mobile service offering has positioned the network as a disruptive force in the industry. With its people-powered coverage model and transparent approach, Helium is challenging traditional carriers and empowering customers. As HNT continues its upward trend, it represents an exciting opportunity for investors interested in the cryptocurrency market. However, it is essential to closely monitor its support levels to ensure sustained growth and avoid potential price corrections.