Helium (HNT) has gained quite an audience today with a very remarkable daily price hike of 9%. The percentage of share currently hitting $8, was shown to be 01% one years ago. 25. This surge has placed Helium as one of the most promising digital currencies and investors’ attention is quickly shifting to it. Hence the overall positioning of the company has a market capitalization of $1.
That said, the recent performance of Helium looks very promising, and the upcoming demand for its services has proven its effectiveness as a cryptocurrency; Despite its recent market capitalization of more than $ 33 billion and a daily trading turnover of over $ 34 million.
For a long time now, helium has been perceived first and foremost as a distinct project in the context of blockchain technology due to the fact that it incorporates a decentralized wireless network for IoT. It is different from most cryptocurrencies since this model enables the devices to communicate with each other by relying on the Helium blockchain. It is worth noting that Helium’s network users are rewarded through the HNT token that has been steadily gaining adoption among IoT developers and organizations.
The other set of key ratios also reveals the forcefulness behind today’s price action in a similar way. From the foregoing, it is evident that market cap or Helium has grown by 9%. market share contribution which increased to 28% and ensured the ranking remains unchallenged on the 52nd place in the entire chain of cryptocurrencies.
This growth shows that Helium is not a Flash in the Pan, but rather a project that has enjoyed steady interest over the long term, based on the Project’s usefulness. The circulating supply of HNT is 160,875,442 HNTs, which means that there is no dilution from more token releases as all the token is in circulation.
Among them, volume to market capitalization ratio that today is at 2. 57%. This means that Helium has moderate trading volume as compared to its total market capitalization, which is an excellent signal that there is adequate depth, and the amount of shares that is being bought and sold within a stipulated period. The trading volume have risen by 17 percent on a daily basis. or $34,074,273, an increase of 16% from the previous day, volumes indicate the strength behind the recent rally and the level of faith traders have in HNT’s near-term trajectory. The high volume stresses the fact that Helium price moves today are not only hypothetical; they are supported good by volume.
Although the max supply of HNT has not been capped its fully diluted market cap value is currently at $1. 33 billion. The lack of a maximum supply can cause concerns to some investors in terms of inflation or emission of tokens in future, but from the Helium’s tokenomics, it is clear that they are operating seamlessly. Another aspect of security and trust among the investors and participants are the decentralized nature of the Helium network where no central authority can control network operations or expand supply in an arbitrary manner.
Helium’s rise today might also be attributable to a revived interest in real use cases for blockchain technology. If more industries turn towards decentralized solutions, then Helium’s IoT-specific model could only become more popular, which means that its blockchain would be crucial for sectors like supply chain, logistics, and smart city. It could be that current improvements have shifted the network to other essential players in the industry or recent upgrades in the network may be increasing today’s results.
Last but not least, we observe the increase in Helium (HNT) utilization in the modern market, backed by well-founded specifications and actively trading. It boasts of a strong network that enables IoT communication and equally has a use case for its HNT token and this puts Helium in a perfect stand to compete in the blockchain industry.
Even as the market seeks for actual use-cases for blockchain solutions, Helium’s decentralized network could remain a popular draw for future growth. The 9. 1% price increase today only may not guarantee that the prices will not increase consistently in the near future if the trend of this market is anything to go by.