Helium (HNT) Experiences Significant Growth Amid Flat Market
Helium (HNT) has seen a notable increase of 4% in the last 24 hours, contrasting sharply with the overall stability of the broader cryptocurrency market, which has been trending downward as of November 13. This surge can be attributed to a remarkable 40% rise in trading volume following the network’s announcement of favorable third-quarter performance metrics, including an annual revenue of $18.3 million. A key factor in this success was Helium’s strategic decision to burn its entire Mobile Virtual Network Operator (MVNO) subscription revenue, enhancing the token’s burn dynamics significantly.
Impressive Metrics Drive Investor Confidence
Following the decision to eliminate its MVNO subscription revenue, Helium’s average daily Data Credit (DC) burns skyrocketed by 196.6% quarter-over-quarter, averaging $30,920 in the third quarter. This move has not only contributed to the ecosystem’s financial health but has also bolstered investor trust in the long-term viability of the Helium network.
Robust Growth in Helium’s Ecosystem
The Helium ecosystem is witnessing remarkable growth, fueled by increased network usage and user adoption. Unique devices connecting to the network have surged by 35.4%, now reaching 1.2 million daily connections. Additionally, Helium successfully passed HIP 147, a governance proposal that revised the distribution of HNT emissions to data-transferring hotspots from 40% to 60%. The token’s deflationary mechanism remains a crucial aspect of its bullish outlook, with consistent weekly burns averaging between $400,000 and $500,000, reinforcing confidence in Helium’s sustainability. Over the past month, approximately 850,000 HNT tokens, valued around $2 million, have been burned, constituting about 0.5% of the total supply of 186.32 million tokens.
HNT Price Forecast: Potential for Further Growth
Currently, HNT is trading at approximately $2.4, having added $20 million to its market cap in just one day. As per CoinMarketCap, the cryptocurrency ranks as the 115th largest, with a market cap of $454 million. The HNT token has demonstrated robust support around the $2 mark over the past year, maintaining this level despite various market pullbacks. Analysts suggest that a breakout above $3.40 could indicate a new phase of recovery, with the next significant resistance point identified at $8.68. Additionally, market analysts are highlighting a crucial accumulation zone near $20, which could serve as an opportunity for long-term investment. The consistent defense of the $2 support level illustrates resilience following multiple tests, and the chart patterns suggest that a sustained movement above $3.40 could confirm an upward trend, with projections even hinting at targets above $50 based on Helium’s historical performance.
Subbd Secures $1.34 Million Ahead of Launch
As Helium gains traction in the market, a new initiative named Subbd is emerging in the digital subscription arena. This platform aims to connect influencers with their audience while providing innovative monetization options for creators. Utilizing Web3 technologies, including artificial intelligence and distributed ledgers, Subbd enhances the interaction between creators and their followers. With over 2,000 content creators and a collective audience exceeding 250 million, the platform offers tools that facilitate content sharing and revenue generation. Fans benefit from tailored access to exclusive content from their favorite influencers. Transactions on Subbd are conducted using its native SUBBD token, which allows creators to retain a higher percentage of their earnings compared to conventional subscription services, ensuring quicker and more cost-effective payments. The SUBBD token plays a vital role in the ecosystem, granting access to premium content, AI-driven functionalities, and community staking rewards. Token holders can stake SUBBD to unlock additional benefits, including private livestreams and exclusive updates from creators. Ahead of its official launch, Subbd has successfully raised approximately $1.34 million during its crypto presale phase.
Disclaimer Regarding Financial Advice
It is important to note that while this article seeks to provide accurate and timely information, it should not be considered as financial or investment advice. Market conditions are subject to rapid changes, and readers are encouraged to conduct their own research and seek professional guidance before making any investment decisions based on this content.
