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Helium (HNT) price prediction as $MOBILE token surges

By:
on Dec 18, 2023
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  • Helium price has jumped sharply in 2023 as momentum continued.
  • Its transition to Solana’s ecosystem has been a positive thing.
  • There are signs that Helium Mobile is gaining market share.

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Helium (HNT) price regained momentum as investors cheered the ongoing Helium Mobile ($MOBILE) growth. The HNT token rose by more than 10% on Monday as most tokens retreated. It jumped to a high of $8.10, much higher than the year-to-date low of $1.085, a 620% increase.

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Helium Mobile gaining share

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Helium is one of the biggest players in the Decentralized Public Infrastructure (DePin) industry. Developed by Nova Labs, the platform’s goal is to increase internet connectivity around the world using blockchain technology.

The network aims to create a win-win situation for users and companies. Miners receive a fee for providing their hotspots and companies like Dish expand their market share in the industry.

Helium is growing at a fast pace. Data in its platform shows that there are now over 363k hotspots around the world and the trend could continue growing as the HNT token price rises.

Helium has expanded its ecosystem recently. It launched Helium Mobile, which is a solution that costs just $20 per month in the US. Users can access data, talk, and text for a tiny amount compared to the average $157 per month that they pay today. Most importantly, users can earn crypto as they use the service.

There are signs that the Helium Mobile Service is growing as the number of active hotspots rise. It now has over 4,115 active hotspots while the total onboarding fees rose to over $148k. The total funding for HNT’s Treasury has risen to 416k. Most importantly, the veHNT delegation to MOBILE has jumped to a record high of 75%, as shown below.

Helium Mobile

Helium MOBILE price has also jumped sharply in the past few days. MOBILE jumped by more than 78% in the past 24 hours, giving it a market cap of over $546 million. This makes it the 106th biggest cryptocurrency in the world.

Meanwhile, HNT price is rising after a positive report by VanEck, a major American company with over $65 billion in assets. In a recent note, the report said:

“Helium claims they can deliver data at less than 50% of the cost of legacy networks. As crypto adoption becomes more mainstream, and if that claim is true, they will likely join a significant share.”

Helium’s rally is also because of its association with Solana, where it migrated to a few months ago. Most Solana tokens like Bonk, Raydium, and Solend have jumped sharply in the past few weeks.

Helium price forecast

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The daily chart shows that the HNT price has been in a strong uptrend this year. The token has remained above all moving averages while the Relative Strength Index (RSI) and the Relative Vigor Index (RVI) have continued rising. 

Therefore, I suspect that Helium price will continue rising as buyers target the year-to-date high of $9.020. A break above that level will see it jump to $10.

Helium Crypto