What is Helium (HNT)? Why Is It Rising?


What is Helium?

We hear the concept of the Internet of Things more and more every day. Within this concept, not only electronic products such as computers, smart phones, tablets, TVs, but also everything we use in our homes, workplaces or see on the street becomes connected to the network. Thus, it is possible to access and control the data of each object remotely. We are slowly seeing networks enabling IoT applications for places larger than home and business. These are based on low range wide area network technology called LoRaWAN. In Helium, LoRaWAN is defined specifically as a global, distributed Hotspot network that creates public, long-range wireless coverage for Internet of Things devices. In summary, Helium offers a secure and low-cost infrastructure service for IoT tools to interact with the Internet.

Founded in November 2018, Helium’s founding names include Amir Haleem, Andrew Allen, Andrew Thompson, Marc Nijdam and Rahul Gary. Amir Haleem is the CEO of the project. The most fundamental and innovative building block of Helium, which has a decentralized blockchain architecture, is the Proof of Coverage, which is called proof of coverage. Proof of Coverage is the algorithm used by the founder of Hotspots that transmit IoT data to the Helium blockchain to verify the accuracy of the location and coverage established by the founder. This algorithm takes advantage of the properties of radio frequencies to generate meaningful evidence for users and the ecosystem.

The Helium blockchain, which started its full operation in 2019, is also called The People’s Network. Of course, the Helium project also has a local crypto asset, which is called HNT coin. The Helium coin, or HNT coin, ensures that the Helium blockchain works and the network continues to function. With a total supply of 223 million, Helium has a circulating supply of 134 million 976 thousand 275.

Why Is Helium (HNT) Rising?

As the reason behind the rise of Helium, we can cite the move of the network to Solana and the approval of Helium’s 74th Helium healing proposal. Thanks to the Helium improvement proposal, the network will move into what’s called modeled coverage. Modeled coverage is a system that takes into account the environmental obstacles that prevent the propagation of signals and the direction of the radios.

Experts’ Helium Price Prediction

So what do the experts say about the future of Helium coin? Moatti, the founder and managing partner of investment management company Mighty Capital, states that applications that increase corporate productivity and reduce costs will increase in popularity in 2023, and he lists Helium as the first among these projects. According to most experts and forecasting platforms, Helium price is expected to be above $6 next year. The Helium network, installed and adopted in dozens of cities around the world, plans to significantly expand its coverage in 2024, adding to the value of the network’s local presence. Considering that Helium has partnered with its technology and some influential companies, long-term forecasts say the asset could easily exceed the $25 target by 2026. In fact, some analysts state that the price of Helium may rise above $ 250 by 2030 and will be among the top 10 cryptocurrencies. Although this possibility is a little remote, the overall projections for the project are positive.

Helium Price Analysis

If Helium, which is priced at $2 levels with a 28% rise in the last 24 hours, continues to rise, the resistance levels to be watched are located in the $2.60 and $3.10 regions. In case of a possible pullback, the first level to be followed for Helium is in the $ 1.85 region, while our other support level is at $ 1.47.


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