Helium (HNT), a decentralized network launched in 2019, has recently become one of the top performers in the cryptocurrency market. Over the past 30 days, HNT has achieved staggering gains, surpassing 147%. This remarkable growth has continued with gains of 101% and 45% over the past fourteen and seven days, respectively. In just the last 24 hours, HNT reached a high of $5.008 and experienced a remarkable surge of 53%, a level not seen since October 2022. But what are the main drivers behind this sudden spike?
The recent surge in HNT’s price can be attributed to the announcement made by the Helium network on December 5. The network revealed that users across the United States can now enjoy unlimited data, voice, and text services for a monthly fee of $20 through their newly launched mobile service. This offering comes at a time when major carriers have been imposing data limits, increasing contract obligations, and raising prices, making Helium’s proposition particularly appealing to users seeking more flexible and cost-effective options.
By offering unlimited data, voice, and text services for a flat fee of $20 per month, Helium Mobile aims to address the growing demand for affordable and unrestricted mobile connectivity. The company aims to empower customers by putting control back into their hands, challenging the practices of traditional carriers. Amir Haleem, CEO of Nova Labs, emphasized the company’s belief that cell phones are essential and that unlimited data, text, and calls should be standard offerings.
Haleem criticized carriers for concealing high subscription rates, roaming fees, and additional data charges behind seemingly attractive phone upgrade options that often lock customers into costly plans for extended periods. In addition to its mobile service, Helium Mobile supports a people-powered coverage model, allowing customers to become network owners and operators. The company believes that “reducing monopolies” and empowering customers can improve service quality, lower costs, and bring overall benefits to all stakeholders.
As the demand for reliable and affordable mobile services grows, Helium’s approach has positioned it as a key player in the industry. This announcement has propelled HNT’s price upward as investors recognize the potential of Helium’s approach in the mobile service sector. The trading price of HNT currently stands at $4.153, marking a significant breakout from its previous downtrend structure over the past 11 months. The cryptocurrency has set its sights on its next resistance level at $4.70.
However, should HNT fail to surpass this resistance level, it will be crucial for the coin to maintain support at the $3.00 level to sustain its current bullish momentum.
Helium (HNT) has experienced a remarkable rise in the cryptocurrency market. The recent announcement of its autonomous and affordable mobile service has captured the attention of investors and users alike. By challenging traditional carriers and offering unlimited data, voice, and text services for a flat fee, Helium Mobile is disrupting the industry and providing a much-needed alternative for consumers seeking more control and cost-effective options. With its rapid growth and increasing demand for reliable mobile services, Helium (HNT) is poised to make a significant impact in the cryptocurrency market. Investors should keep a close eye on this promising digital asset.
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