• The Helium Network’s HNT token is trading at a massive profit this week, with a 27% surge in the past 24 hours.
• The Helium Network is a decentralized peer-to-peer wireless network that is looking to transform networking in its entirety, backed by Andreessen Horowitz.
• Investors should note that the broader market’s bearish trend move may continue to have an effect on the HNT price.
This week, the Helium network’s HNT token is trading at a massive profit, with a 27% surge in the past 24 hours, beating the broader market, which is down by 0.18% in the same period. This surge in HNT’s price has done well for the asset’s technicals, with the token now trading above its major moving average (MA) indicators, and its positive moving average convergence and divergence (MACD) also giving off a buy signal.
The Helium Network is a decentralized peer-to-peer wireless network that is looking to transform networking in its entirety. It is backed by Andreessen Horowitz, one of the most prominent venture capital firms in the world. The network uses a revolutionary decentralized infrastructure powered by hotspots that are connected to the Helium blockchain, and they offer accessibility and range without having to rely on cell towers like major cellular operators.
This month, Helium inked a major partnership with NanoThin, a company that specializes in low-power, low-cost, and low-maintenance IoT solutions. This partnership aims to bring Helium’s decentralized infrastructure to more than 100 countries around the world. This is a major step forward for the network, as it will help to expand its reach and adoption.
In terms of potential profits, HNT has been performing well this week, but investors should be aware of the broader market’s bearish trend move and take caution. Although HNT looks to be a great choice for 2021, it is not certain whether it will be the best choice for 2023.
Investors should do their own research before investing in any asset, and make sure to keep an eye on the market’s movements in order to make informed decisions. With the crypto market remaining volatile, it is important to stay up to date with the latest news and developments in order to make the most of the opportunities available.