According to Cointelegraph, the native token of the Helium ecosystem, HNT, has risen 21% in the past two days, outperforming the crypto market. The price of HNT has risen from a low of $7.5 on September 5 to $8.35, the highest level since March 14, 2024.
According to CoinMarketCap data, HNT has become the largest gainer among the top 100 cryptocurrencies by market capitalization. In contrast, the total crypto market valuation has fallen by 1.67% to $2 trillion in the past 24 hours. Bitcoin fell by 2.5% and Ether fell by 3%.
With more than 112,000 users, Helium Mobile has solidified its position in the telecommunications industry. Helium Mobile uses the Helium network to connect hotspots around the world, enabling data sharing, tracking, and communication without relying on traditional centralized cellular or WiFi networks.
As of September 4, the number of Helium Mobile users has reached 112,709, an increase of more than 300 times from a year ago. The number of global hotspots has also increased from 11 in September 2023 to the current 18,355.
Helium's website data shows significant growth in its network's reach in the United States, Western Europe, Latin America and Asia. Helium network usage has also increased over the past 30 days, with total daily usage estimated at 3,033 on September 5.
From a technical perspective, HNT is trading inside an ascending parallel channel, which suggests that the uptrend is likely to continue. If the price remains inside the channel, it may eventually reach the target objective of $10.50.