- Helium price has made a spectacular recovery.
- Helium announced growth initiatives for 5G network.
The Helium price has staged a strong comeback in the past few days as investors cheer the growth of its ecosystem. HNT, its native token, is trading at $15.30, which is about 30% above the lowest level this month. Its market cap has risen to about $1.5 billion, making it the 63rd biggest coin cryptocurrency in the world.
Helium Growth Continues
Helium is a leading blockchain project that is disrupting the networking industry. The network is achieving this by letting people share their internet and earn a reward. In the past few months, its growth has continued, with the network attracting some of the leading players in the data industry.
One of its biggest players in the network is DISH Network, one of the biggest couriers in the communication industry. It has also partnered with GigSky, a leading platform that offers its mobile data plan.
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Helium also started its 5G platform as the second wireless that is supported by the network. In a statement this week, the developers launched a proof-of-coverage reward, data transfer rewards, and oracles. With these rewards, investors will be able to earn HNT when a compatible 5G device sends data. The statement said:
“Work is currently underway to introduce Helium 5G PoC, which would enable compatible Hotspots to earn HNT for building 5G coverage and securing the Network.”
The Helium price has also risen after the launch of off-chain oracles. Oracles solve a unique problem where they require a trusted source of external data. The Helium ecosystem has a pricing oracle to help with the HNT to data credit burn on-chain transaction.
The coin has risen even as the Fed continues hiking interest rates and its quantitative tightening policy this week. Historically, risky assets like Bitcoin, Ethereum, and stocks declined.
Helium Price Prediction in 2022
The HNT price has been in a strong bullish trend in the past few days. Along the way, the coin has moved to the 23.6% Fibonacci retracement level. The coin has moved above the 25-day and 50-day moving average while the Stochastic Oscillator has moved above the overbought level.
The Relative Strength Index (RSI) has moved above the neutral level of 50. Therefore, there is a likelihood that the coin will keep rising as bulls target the important resistance level at $20. A drop below the support at $14.50 will invalidate the bullish view.
If you are interested in learn more, take a look at our step-by-step guide on how to buy cryptocurrency online.
