Helium (HNT) Falters 15% As Crypto Market Tries To Bounce Back

Christian Encila

Last Updated: October 11, 2024 4:30 pm

3 mins read

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While Helium Mobile has enjoyed phenomenal success, the network has failed to keep pace, with the general market pulling it down further and with losses being multiplied as the market drops low. According to the latest market data, HNT, the native token of the network, dropped about 15% over the last two weeks which may endanger winnings pocketed in the last month.

However, investors and traders are banking on recent developments that might turn the tide once the market recovers from its pitfall. With these recent developments, gains might be around the horizon although investor sentiment remains shaky at best and bearish at worst.

Helium-Ameriband Partners To Expand Helium Network

Helium recently announced that it has partnered with Ameriband, a market leader in Wi-Fi infrastructure in the United States. According to Helium’s recent blog post, the partnership will bring 100,000+ data-only hotspots around the US, expanding the network’s coverage over the country overnight.

Exciting News for Helium Mobile Users! 👏

Ameriband today announced its partnership with @helium_mobile to add 100,000+ Data-Only Hotspots to the Helium Network in the next few months across the US.

These Hotspots will help deliver faster, and more reliable coverage to users…

— Helium🎈 (@helium) October 9, 2024

“Ameriband’s vast network is deployed in well-known retail businesses, grocery chains, venues, and commercial locations across the country and will help drive usage to the Helium Network. Thanks to this partnership, anyone with a Helium Mobile phone plan will experience connectivity in even more locations than before,” stated Helium in the blog post.

This came as a massive win for Helium as the network expansion nearly guarantees connectivity for US users. This means that Helium users who previously experienced connectivity issues will have fewer or zero problems regarding connectivity in the coming weeks and months. It also ensures that the average retail user will have exposure to the Helium network, possibly adding on the growing number of users of the platform’s mobile arm.

HNT is currently trading at $6.45. Chart: TradingView

The carrier offload program caters to 130,274 subscribers from three different network providers with over 122 TB of data routed to the Helium network, figures that will continue to grow as the Ameriband partnership takes effect.

Rising Correlation With The Market Leaves Gains Behind For HNT

HNT bulls are in the middle of an attempt to retest the current $6.79 resistance level. As of writing, HNT is still on the down-low with the token possibly taking another dive toward $6.23 in the coming days or weeks.

The relative strength index (RSI), however, is hinting at a possible bullish reversal within this week or the coming week.

However, the rising market correlation with the broader market might endanger the token’s bullish momentum that is currently building up. With this in mind, HNT might continue to stabilize between the $6.23-$6.79 trading range in the coming days but may drive down toward $6.23 or $5.67 if the bears remain superior in the coming months.

Featured image from Pexels, chart from TradingView

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.