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Helium, a blockchain network built for the Internet of Things, saw its price jump by 12% on the morning of August 13, making it one of the top gainers in the crypto market.

Helium (HNT) saw its price rise by 7.52% to $6.79. The daily trading volume for the crypto asset increased by 56%, reaching around $25.2 million, and its market cap stood at $1.14 billion, placing it 65th among the largest cryptocurrencies.

Helium (HNT) saw a 20% price increase after dropping to $5.66 yesterday, when Bitcoin fell by 4% and the global crypto market experienced a downturn with over $156.4 million in liquidations. Despite this recovery, bringing HNT back to levels last seen on March 21, the token is still down 88% from its all-time high of $55.2, recorded in November 2021.

Founded in 2013, Helium Inc. has created a global decentralized blockchain network designed to support wireless communication for Internet of Things (IoT) devices. This network offers a scalable and cost-effective alternative to traditional telecom services by enabling individuals to set up network points through Hotspots.

The recent price surge follows Helium’s partnership with two major U.S. carriers, who are currently testing the Helium Network to offload their mobile traffic. This partnership could lead to a shift toward a more decentralized network infrastructure, further boosting Helium’s market position.

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