The HNT price surged 20% again this week, making it the top-performing altcoin among the top 100 coins globally by market cap. In fact, this has been second week in a row Helium’s been among top crypto gainers. HNT has now surpassed the $1 billion market cap milestone and is trading just below $8.
Why the sudden jump? Helium appears to be one of those blockchain projects with genuine utility, and traders seem to be taking notice.
It’s worth noting, however, that the HNT price still has a considerable distance to cover before reaching its all-time high from 2021, which stands at around $47.
Simplifying Mobile Hotspot Participation
The Helium Foundation made an announcement on Friday. The community approved HIP 129, making all MOBILE Hotspots automatically eligible to participate in the carrier offloading beta. Helium Mobile, as the manufacturer of the Hotspots, has activated this feature for all devices as of August 15, 2024.
HIP 129 Passed: MOBILE Carrier BetaHIP 129 has been approved by the community! With the passage of HIP 129, all MOBILE Hotspots will be automatically eligible to participate in the carrier offloading beta. @helium_mobile, as the manufacturer of the Hotspots has turned this…
— Helium Foundation (@HeliumFndn) August 15, 2024
Inclusion in any carrier’s beta program is at the discretion of the carrier. Hotspot owners can check whether a carrier has selected their device to participate in a beta through the Helium Mobile Hotspot Dashboard. The dashboard also provides an option to opt out at any time. This change streamlines operations by eliminating the need for manual configuration.
Crypto analyst that goes by the name “Crypto Stream” tweeted to his 55,000 followers on X, highlighting HNT’s performance. He pointed out that telecommunication companies have recently started utilizing the Helium network, mainly due to two main reasons: lower costs and improved coverage.
Source: X/CryptoStreamHub
These companies burn HNT tokens to use the network. He speculated that if Helium manages to onboard more telecommunication companies, it could become a top player in the industry. The only thing I can add to his take is – isn’t Helium already a major player in this market? This week for sure it is.
Another coin among top gainers this week is AAVE, so read also: AAVE Price Could Spike +100% Following Breakout From This Key Resistance: Here’s the Outlook
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