Why Helium (HNT) Token Price Is Up by 100% in a Day, What’s the Reason?

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In a market where many big cryptocurrencies are facing challenges, Helium Mobile (MOBILE) has caught everyone’s attention by shooting up 100% in just one day, reaching $0.0070. The trading volume has also jumped by 200%, hitting $18 million.

Why Helium Mobile’s Price Is Surging?

Helium (HNT), a decentralized wireless network, recently launched a $20/month unlimited cell phone plan in the United States, significantly cheaper than the average monthly phone bill.

The Mobile Virtual Network Operator (MVNO) has attracted around 8,000 subscribers, and the key to this success lies in an innovative incentive mechanism.

However, new Helium Mobile subscribers are presented with the opportunity to earn “mapping rewards” by sharing their phone’s session connection data with Helium. 

By agreeing to this, users receive a non-fungible token (NFT) minted into their Helium wallet on the Solana blockchain. Holders of this NFT become eligible for a proportional share of the $MOBILE mapping rewards, constituting 20% of all $MOBILE rewards.

Why do NFTs Matter for Helium Mobile?

Meanwhile, the strategic use of NFTs serves a dual purpose for Helium Mobile, it helps Helium Mobile figure out where lots of people are using their services. This is good for them because they can encourage more people to set up hotspots in those areas, making the network work better. It also means they have to pay less to use T-Mobile’s network.

Salvador Gala, who knows a lot about the digital world, says that about 8,000 people have gotten one of these special digital tokens. But there are even more people – about 34,000 – who’ve downloaded the app and said yes to sharing their location. This shows that a lot of people are interested in what Helium Mobile is doing.

So, while other cryptocurrencies might be having a tough time, Helium Mobile is turning heads with its unique approach to cellphone services. And this strategic integration of NFTs and the demand for Helium Mobile services continue to drive its remarkable surge in both price and popularity.

HNT Mobile Price Analysis

According to the latest data, the current price of Helium Mobile is $0.0070 and MOBILE is currently ranked 216 in the entire crypto ecosystem. The circulation supply of Helium Mobile is 78.5 Billion with a market cap of $545 Million.

With an increase in its trading volume and market cap, Helium Mobile’s price has shown a good increase of 100.74% in the last 24 hours.

Meanwhile, the price of Helium Mobile is predicted to reach at a minimum level of $0.0128 in 2024. Perhaps the Helium Mobile price can reach a maximum level of $0.0152 with an average price of $0.0132 throughout 2024.