The Unstoppable Rise of Helium in September
Despite a 3% dip in the overall crypto market earlier this month, Helium (HNT) stands out by defying the prevailing market sentiment. According to CoinGecko, HNT has surged by more than 16% in the past week, outperforming even the top 100 cryptocurrencies as of Monday. This exceptional performance highlights the resilience of Helium in the face of prevailing market conditions.
Helium’s Impressive On-Chain Developments
The Helium ecosystem has witnessed significant growth and progress, driven by a series of robust on-chain developments that have contributed to the impressive performance of HNT. These developments have set the stage for Helium to thrive in the long run, despite the current market challenges.
- HIP-130 Approval:
- The recent passing of HIP-130, also known as the Data-Only MOBILE Hotpots proposal, is a notable milestone for Helium.
- This proposal enables data transfer exclusively on non-certified devices within the network, expanding the platform’s capabilities.
- With an overwhelming 96% approval rate during the voting phase, this development paves the way for Helium to enhance its reach and service offerings.
- Strategic Partnerships:
- In August, Helium forged key partnerships to solidify its position as a leading decentralized physical infrastructure solution.
- Notably, a partnership with Sphere Labs, a crypto payment platform, allows Helium Mobile users to pay their monthly bills with cryptocurrencies.
- This collaboration also introduced a promotional offer where users paying with crypto can enjoy a month of subscription-free service.
Trading Outlook for HNT
Currently, HNT is hovering within the $7-$7.4 trading range, providing limited room for both bulls and bears to navigate. The token’s relative strength index (RSI) suggests a neutral stance, offering an opportunity for bullish momentum within the existing trading boundaries.
Despite these promising signs, a sustained rally for HNT is more likely in the medium to long term, given the lack of strong support from the broader market in the short term.
Hot Take: Embracing Stability and Growth
As Helium continues to defy market trends and showcase its resilience, the future looks promising for this innovative ecosystem. With robust on-chain developments, strategic partnerships, and a commitment to advancing decentralized infrastructure, Helium is well-positioned to thrive amidst market uncertainties. By focusing on stability and long-term growth, HNT remains a standout asset in the crypto landscape.
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