Estimated reading time: 8 minutes ⏳
The Helium project, renowned for its decentralized wireless network, has embarked on a transformative journey in 2024. This article delves into the key updates and developments that have shaped the Helium ecosystem, highlighting its strategic moves and technological advancements.
Migration to Solana Blockchain

One of the most significant milestones for #Helium in #2024 was its migration to the #Solana blockchain. This strategic shift aimed to enhance scalability, reduce transaction costs, and expand smart contract functionality. By leveraging Solana's network efficiency, Helium has positioned itself for greater growth, accessing DeFi markets and a wider developer community.
Strategic Partnership with Telefónica

Helium's collaboration with telecommunications giant Telefónica marked a pivotal expansion into new markets. The deployment of mobile hotspots in Mexico signifies Helium's increasing appeal to major telecom players and its potential to redefine mobile connectivity on a global scale.
Smart Contract and Protocol Updates

Helium implemented critical updates to its smart contracts, introducing WiFi Onboarding Charges (HIP-96) and revising Service Provider rewards (HIP-87). These changes aim to optimize network economics and reward distribution, reflecting Helium's commitment to adaptability and community-driven innovation.
Network Expansion and Community Engagement

The Helium network surpassed 850,000 Hotspots, affirming its status as the fastest-growing decentralized wireless network. Its diverse applications, from inventory management in the beer industry to consumer mobile services, showcase its broad utility and potential for further growth.
Price Performance and Market Response
Amidst these developments, Helium's token (HNT) experienced significant price movements, including a surge following the smart contract updates. The market's responsiveness to Helium's fundamental changes underscores the ecosystem's potential for future growth and investment appeal.
The introduction of mining plans, expansion into 5G, and the responsiveness to fundamental changes are all bullish indicators. The smart contract updates and the anticipation of the Bitcoin halving event suggest a positive outlook, potentially increasing investor interest and demand for #HNT . Given these factors and assuming a favorable market condition, it's plausible to predict a substantial increase in HNT's price in the short to medium term.
Helium (HNT-USD) is currently priced at $6.5406, with a 24-hour change of approximately -2.79%. It has a 52-week range between $1.1800 and $11.0363.
Future Outlook and AI Predictions
Looking ahead, AI models predict a substantial price increase for HNT following the 2024 Bitcoin halving. The expansion into 5G technology and Helium's growing global footprint are seen as key drivers for its continued momentum and market relevance.
Launch of Helium Mobile and Consumer Services

Helium's foray into consumer mobile services with the launch of Helium Mobile, offering unlimited data, talk, and text for $20/month, marks a significant diversification of its ecosystem. This initiative demonstrates Helium's ambition to enhance its value proposition and reach a wider audience.
Mining Plans for Investors and Wallet Options
Helium Farm introduced mining plans offering daily HNT returns, providing investors with passive income opportunities. For HNT holders, wallet options like Uphold Wallet, Ledger, and Trezor offer a range of features for secure and convenient token management.
Conclusion
Helium's journey in 2024 has been marked by strategic partnerships, technological upgrades, and a focus on community-driven growth. As it continues to innovate and expand its ecosystem, Helium is poised to maintain its leadership in the decentralized wireless space and offer promising opportunities for investors and users alike.
References:
Helium Foundation. (n.d.). A New Era for Helium Begins with Upgrade to Solana Blockchain. The Helium Blog. Retrieved from blog.helium.Coindesk. (n.d.). Telecom Giant Telefónica Partners With Helium (HNT) to Roll Out Mobile Hotspots in Mexico. Retrieved from Coindesk.The Merkle News. (2024, January 9). Helium (HNT) Surges 25% Following Smart Contract Updates. Retrieved from Themerkle.DailyCoin. (n.d.). Helium (HNT): Project Review, Recent Developments, Future Events, Community. Retrieved from Dailycoin.CoinCodex. (n.d.). AI Predicts 118% Helium (HNT) Price Increase After Bitcoin Halving. Retrieved from Coincodex.Coin Guru. (n.d.). Latest Helium News Alerts. Retrieved from Coin.guru

Disclaimer:

Please note that the insights and discussions presented in this article are for informational purposes only and should not be construed as financial advice. 'The Crypto Sage' seeks to illuminate the dynamic world of cryptocurrency through analysis and storytelling, aiming to educate and inspire our readers. As the digital asset landscape is highly volatile and subject to rapid changes, we encourage all investors to conduct their own thorough research, consider their financial situation, and, if necessary, consult with a professional financial advisor before making any investment decisions. Venture wisely into the realm of cryptocurrencies, armed with knowledge and prudence.
#HotTrends

HNT price is consolidating and can soon witness a bullish breakout.

Current price of Helium is 97.5% lower than its all-time high.

Helium price has been consolidating for the past few weeks, and now can witness a bullish breakout. HNT price could witness a boom in ten days as the network is ten days away from launching on Solana mainnet. The Helium Mobile will be the world’s first crypto carrier on Solana.

🎉 1️⃣ 1️⃣ Only 11 days from launching on @solana mainnet and we couldn't be more excited for our friends at @helium_mobile who will be the world's first crypto-carrier on Solana. Going to Consensus in ATX? Join their event on April 27th. Registration is open. Link in thread👇 pic.twitter.com/SpgxYqSnUu

— Helium🎈 (@helium) April 7, 2023

The Monoscope

Source: HNT/USDT by TradingView

The HNT price forms a consolidation phase after falling for several trading sessions, and marked a new 52 week-low at $1.1643. The Bollinger Bands contract near the consolidating price suggesting a dormant market. The trading volume declines to suggest a deserted market, which can soon be flooded with potential buyers, running up to the launch of Solana mainnet.

HNT price can turn bullish once the resistance near $1.5330 is breached. The projected price rise can aim for $2.00. A horizontal OBV suggests a stagnant market which could soon produce an uptrend. The Commodity Channel Index (CCI) measures the difference between current prices and historical prices. CCI moved from negative toward 100, indicating a bullish trend for the coming days.

Source: HNT/USDT by TradingView

HNT price has been under bearish influence. The Super Trend shows the bears catching a breather as the indicator goes flat with the horizontal channel. The trend can soon turn bullish, as per previous bearish trend, which ended after a flat movement. The MACD forms a gradually widening divergence and records ascending buyer bars indicating steadily increasing buyer engagement. The RSI alo escalates from the floor range to suggest buyers gaining dominance slowly and steadily.

The Microscope

Source: HNT/USDT by TradingView

The Helium price action over the smaller time frame shows an extended consolidation phase, trying to breach the channel. The Super Trend indicates bulls trying to establish a trend but are facing residual bears, but soon can gain dominance over the market. The MACD forms a converging pattern, which reflects declining sellers as it records descending seller bars. The RSI rises from the half line mirroring rising buyer participation in the market. The positive RSI supports the prediction of a bull run in future.

Conclusion

HNT price is presently consolidating, moving sideways. The stagnant price can soon witness a bullish breakout. A bullish trend could be observed around the Solana launch. The price can reach $2.00 after breaching the resistance near $1.5330.

Technical levels

Support levels: $1.2185 and $1.1000

Resistance levels: $1.5330 and $1.9055

#HNT #helium #Binance #crypto2023 #crypto