crypto.news
Helium, a blockchain network tailored for the Internet of Things (IoT), has seen its price climb by 11% over the past day, currently valued at $4.96.
According to the latest data from crypto.news, Helium ($HNT) now holds a market capitalization of around $797 million, ranking it 88th in the global cryptocurrency market cap standings. Over the past week, the cryptocurrency has also seen a significant rise, increasing by more than 40%.
The trading volume for $HNT has surged by 207% in the last 24 hours, reaching $17.9 million. During this period, its price fluctuated between $4.47 and $5.21.
Helium, established in 2013 by Helium Inc., facilitates wireless communication for IoT devices across the globe through its decentralized blockchain network. This model offers a scalable and cost-effective alternative to traditional telecom services by allowing individuals to host network points via Hotspots.
These devices provide coverage and transmit data for IoT devices, with hosts earning Helium tokens ($HNT) in return, promoting network growth and density.
Despite the recent upward movement in $HNT’s value, there have been no significant announcements from Helium that would directly account for the spike. However, the general uplift in the market, led by Bitcoin’s 7% increase over the last week, may have influenced Helium’s performance.
On Monday, Bitcoin (BTC) traded at $67,337, with its price ranging from $66,087 to $68,418 within 24 hours. Although it attempted to break the $68,000 threshold over the weekend, it met resistance, tempering the rally.
Moreover, the total market capitalization of cryptocurrencies has risen by 0.5% in the last day, reaching $2.45 trillion.