Helium: Development Plans Spark 15% Surge in HNT Price
Helium (HNT) continues to defy market trends, with CoinGecko reporting a nearly 15% increase in the token’s value. This surge is attributed to recent on-chain developments, specifically the expansion of Helium’s decentralized physical infrastructure (DePIN) through two crucial proposals, known as HIP 130 and 131.
HIP 130, titled ‘Data-Only Hotspots’, aims to extend the network’s reach by utilizing passpoint authentication on any hotspot, even those from non-certified vendors. These hotspots will function similarly to Helium-made ones, but they will be used for passing data that has already been paid for. Users of these hotspots will be rewarded with MOBILE tokens within the Helium ecosystem.
HIP 131, titled ‘Bridging the Gap Between Verification Mappers and Anti-Gaming Measures’, introduces a new system to safeguard the network’s reward system. This proposal builds upon HIP 125 and limits the rewards multiplier for hotspots engaged in malicious activity. To regain the rewards boost, a hotspot needs to submit just one accurate Call Detail Record (CDR).
At present, both proposals are in the voting phase, with the community having only 11 hours left to participate. The current trading range for HNT is between $6.8 and $7.5, with an upward momentum that could lead to gains surpassing $8 in the long term. However, market conditions may pose challenges to this rally, as the overall sentiment is currently bearish.
Investors and traders are advised to cautiously enter the HNT market and closely monitor broader market sentiments. Once the situation improves, a rally breaking through $8 or possibly even $10 may be on the horizon. Until then, protecting long-term gains should remain a priority.