Crypto News

Helium ($HNT) Surges Over 48% To New High Following Sudden Price Uptick

Helium ($HNT) stands out as a decentralized blockchain network dedicated to empowering Internet of Things (IoT) devices. Launched in July 2019, the Helium mainnet facilitates communication among low-powered wireless devices, leveraging a network of nodes for seamless data transfer.

These nodes, known as Hotspots, function as a combination of wireless gateways and blockchain mining devices. Operators of these nodes engage in mining activities and earn rewards in Helium’s native cryptocurrency token, $HNT.

$HNT Price Action To Watch

In a remarkable turn of events, the price of $HNT has experienced an impressive surge of over 48% in recent hours, reaching a new yearly high at $4.863.

The catalyst for this surge was Helium’s announcement of its nationwide $20/month Unlimited Phone Plan. With the average American spending approximately $157 per month on cellphone plans amid rising inflation, Helium Mobile aims to provide an affordable alternative. The $20/month plan promises unlimited data, text, and talk services, catering specifically to popular apps like YouTube, TikTok, Instagram, and Snapchat.

This strategic move has not only propelled Helium to achieve a 48% increase in market capitalization but has also led to a substantial rise in its 24-hour trading volume, surging by over 574%.

The positive response in the market underscores the impact of innovative services and affordability in the competitive telecommunications landscape. Helium’s commitment to providing accessible and limitless mobile services aligns with evolving consumer needs, contributing to its recent surge in both value and trading activity.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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