Helium (HNT), the decentralized network that was launched in 2019, has been making waves in the cryptocurrency market with its significant gains. This surge in price is not an isolated event but is happening alongside the remarkable increase of Solana (SOL), another protocol built on Solana’s network, which has seen a 56% increase in the past 30 days. However, HNT has outperformed even SOL, achieving staggering gains of 147% over the past 30 days alone. This impressive growth has continued, with gains of 101% and 45% over the past fourteen and seven days, respectively. In fact, HNT even reached a 24-hour high of $5.008, experiencing a surge of 53%, a level that has not been seen since October 2022. But what are the driving forces behind this remarkable spike?
The recent surge in HNT’s price can be attributed to a groundbreaking 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 new offering comes at a time when major carriers have been imposing data limits, increasing contract obligations, and raising prices. As a result, Helium’s affordable and unrestricted mobile service has become particularly appealing to users looking for 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’s main goal is to empower customers by putting control back into their hands, which challenges the practices of traditional carriers. Amir Haleem, the CEO of Nova Labs, the parent company of Helium Mobile, strongly believes that cell phones are essential and that unlimited data, text, and calls should be standard offerings.
Haleem criticized traditional carriers for hiding high subscription rates, roaming fees, and additional data charges behind seemingly attractive phone upgrade options. These deceptive practices often lock customers into costly plans for extended periods of time. In response, Helium Mobile aims to disrupt the status quo by supporting a people-powered coverage model that allows customers to become network owners and operators. Drawing inspiration from platforms like Airbnb and Uber, the company firmly believes that “reducing monopolies” and empowering customers will ultimately lead to improved service quality, lower costs, and overall benefits for all stakeholders.
As the demand for reliable and affordable mobile services continues to grow, Helium’s unique approach has positioned it as a key player in the industry. This groundbreaking announcement has not only boosted the price of HNT but has also caught the attention of investors who recognize the potential of Helium’s innovative approach in the mobile service sector. Currently trading at $4.153, HNT has managed to break out of its downtrend structure of the past 11 months and is now targeting its next resistance level at $4.70. It will be crucial for HNT to surpass this resistance in order to sustain its current bullish momentum. However, even if it fails to do so, maintaining support at the $3.00 level would be essential to keep the positive momentum going.
Helium’s rise in the cryptocurrency market and the surge in HNT’s price can be attributed to its revolutionary approach to mobile services. By offering unlimited data, voice, and text services for a flat fee, Helium Mobile is challenging the practices of traditional carriers and providing users with a more affordable and unrestricted mobile experience. With HNT’s impressive gains and the potential to disrupt the industry, Helium is undoubtedly making waves and establishing itself as a game-changer in the mobile service sector.