The crypto market can’t be described as being in the best shape. The FED pumped up interest rates once again the previous week, and cryptos were inevitably affected. Despite many cryptos performing poorly recently, Helium (HNT) has managed to greatly skyrocket nonetheless. The cryptocurrency has surged in value by a whopping 28% and stands firm compared to other cryptos such as Bitcoin, Ethereum, and many more.
The surge in value can be linked to the Helium network moving to the Solana blockchain. However, this shift is expected to happen earlier next year. It is worth mentioning that such a move could advance Helium’s mission to offer affordable connectivity. In addition, Helium (HNT) coins and governance would be shifted entirely to the Solana Blockchain. This move would result in the availability of Helium (HNT) on the subDAO reward pools. That’s not all, though. Users will even be offered consistent mining, reliable data transfer, and much more. Be it either an improved utility for Helium (HNT) or subDAO coins or increased ecosystem support; the shift will offer almost everything.
The Helium network can be described as a decentralized, peer-to-peer, 5G network. The network makes use of a decentralized infrastructure that is powered by hotspots. These hotspots can be defined as small, wireless devices that connect to the Helium blockchain. As a result, increased range and accessibility are offered without relying on cell towers. Helium (HNT) also makes it easier for users to craft their own decentralized IoT infrastructures.
Helium (HNT) Breaks Through the Roof
At the time of writing, Helium (HNT) is trading for approximately $2.12 and has a total market capitalization of almost $286 million. Despite the increase, Helium (HNT) couldn’t stick to its high of $2.48 and is down by nearly 0.93% over the previous 24 hours. Based on this, it is relatively easy to assume that if the cryptocurrency continues to increase considerably, it might provide a good value for money.
Cryptocurrencies are highly volatile, and one must understand the risks before investing in crypto. Any shifts within the market can either result in a significant profit or loss. Based on the current scenario, it is still a matter of conjecture when the situation might improve. However, all an investor can do right now is invest carefully.