{"id":640483,"date":"2024-09-08T00:30:51","date_gmt":"2024-09-08T00:30:51","guid":{"rendered":"https:\/\/www.uniquehot.com\/?p=640483"},"modified":"2024-09-07T13:32:31","modified_gmt":"2024-09-07T13:32:31","slug":"helium-hnt-network-expansion-fuels-13-gains-despite-faltering-market","status":"publish","type":"post","link":"https:\/\/www.uniquehot.com\/news\/helium-hnt-network-expansion-fuels-13-gains-despite-faltering-market\/","title":{"rendered":"Helium (HNT) Network Expansion Fuels 13% Gains Despite Faltering Market"},"content":{"rendered":"

Helium (HNT) defeats the market\u2019s bearishness as its new developments drive hype for the long term. According to <\/span>CoinGecko<\/span><\/a>, HNT rose by 13% despite the market\u2019s continued fall in the short term.<\/span><\/p>\n

Related Reading: Cardano Bull Sees ADA Jumping 1,000% In An \u2018Insane\u2019 Rally<\/a><\/div>\n

HNT has been boosted by continued on-chain developments that have driven the limelight towards the platform. However, with the market dips continuing to mount losses for investors, the token\u2019s future gains might already be in jeopardy.\u00a0<\/span><\/p>\n

New Proposals And Expanding Network Drive New Growth<\/strong><\/h2>\n

In an X post, Helium <\/span>revealed<\/span><\/a> that HIP 124, titled \u201c <\/span>Securing IOT Governance Through Voting Rewards\u201d, was passed in a recent voting round. According to <\/span>Helium<\/span><\/a>, the vote swung in favor of HIP 124 with over 95% of users agreeing to the implementation of the proposal. This is due to the proposal\u2019s main points.\u00a0<\/span><\/p>\n

\n

HIP 124: Securing IOT Governance Through Staking Rewards Passed \u2705<\/p>\n

HIP 124 introduces rewards for veIOT holders who actively participate in governance votes on the IOT subnetwork. This proposal is aimed at boosting voting turnout in the IOT Network’s governance. HIP 124 passed\u2026<\/p>\n

\u2014 Helium Foundation \ud83c\udf88 (@HeliumFndn) September 5, 2024<\/a><\/p><\/blockquote>\n

HIP 124 is mainly concerned with the governance side of Helium which, as of writing is an \u201copportunity cost\u201d for users of the platform. To vote on Helium, a user must lock IOT to gain veIOT, the token\u2019s version used for voting on the platform. Since there are no rewards for users participating in governance, participation is still relatively low compared to Helium\u2019s users.<\/span><\/p>\n

To offset the cost related to participating in governance, HIP 124 will enable rewards for veIOT holders which will come from HIP-52\u2019s 7% bucket allocated emissions that are dedicated to decentralized oracles which, according to the platform, is currently \u201cnot emitted.\u201d\u00a0<\/span><\/p>\n

With Helium lowering the financial barrier for governance participation will greatly affect voter turnout once a new proposal is under the voting process.\u00a0<\/span><\/p>\n

\"\"<\/p>\n

Source: Helium Stats<\/pre>\n
In addition to this new development, Helium Mobile\u2019s network has <\/span>expanded<\/span><\/a> once more. According to its official website, the Carrier Offload Program is now covered by a whopping 767 hotspots. This led to users on the platform growing with nearly 200,000 non-Helium subscribers using the network.\u00a0<\/span><\/p>\n
HNT is currently trading at $7.94. Chart: TradingView<\/a><\/figcaption><\/figure>\n
Exhausted HNT Might Fall Below $7.455<\/strong><\/h2>\n
HNT\u2019s position was the result of continued bullishness that started last month, but the current rejection by the $8.689 resistance level will drive the token downward despite positive on-chain developments. This will lead to HNT dropping below $7.455 in the short to medium term.\u00a0<\/span><\/p>\n
\"\"<\/p>\n
The token\u2019s nearly maxed-out relative strength index (RSI) suggests that momentum is still in the hands of the bulls. However, the bulls have lost a ton of momentum since the start of the upward drive which will hurt gains in the long term.\u00a0<\/span><\/p>\n
Related Reading: Aptos (APT) Dips 15% As New Innovations Fail To Spark Momentum<\/a><\/div>\n
Fundamentally, HNT has great support with continuing on-chain developments and overall bullish investor sentiment. However, investors and traders should monitor the broader market as any broad swing by the market can make or break HNT gains in the long term.\u00a0<\/span><\/p>\n
Featured image from Pexels, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
Helium (HNT) defeats the market\u2019s bearishness as its new developments drive hype for the long term. According to CoinGecko, HNT rose by 13% despite the market\u2019s continued fall in the short term. Related Reading: Cardano Bull Sees ADA Jumping 1,000% In An \u2018Insane\u2019 Rally HNT has been boosted by continued on-chain developments that have driven the limelight towards the platform. However, with the market dips continuing to mount losses for investors, the token\u2019s future gains might already be in jeopardy.\u00a0 New Proposals And Expanding Network Drive New Growth In an X post, Helium revealed that HIP 124, titled \u201c Securing IOT Governance Through Voting Rewards\u201d, was passed in a recent voting round. According to Helium, the vote swung in favor of HIP 124 with over 95% of users agreeing to the implementation of the proposal. This is due to the proposal\u2019s main points.\u00a0 HIP 124: Securing IOT Governance Through Staking Rewards Passed \u2705 HIP 124 introduces rewards for veIOT holders who actively participate in governance votes on the IOT subnetwork. This proposal is aimed at boosting voting turnout in the IOT Network’s governance. HIP 124 passed\u2026 \u2014 Helium Foundation \ud83c\udf88 (@HeliumFndn) September 5, 2024 HIP 124 is mainly concerned with the governance side of Helium which, as of writing is an \u201copportunity cost\u201d for users of the platform. To vote on Helium, a user must lock IOT to gain veIOT, the token\u2019s version used for voting on the platform. Since there are no rewards for users participating in governance, participation is still relatively low compared to Helium\u2019s users. To offset the cost related to participating in governance, HIP 124 will enable rewards for veIOT holders which will come from HIP-52\u2019s 7% bucket allocated emissions that are dedicated to decentralized oracles which, according to the platform, is currently \u201cnot emitted.\u201d\u00a0 With Helium lowering the financial barrier for governance participation will greatly affect voter turnout once a new proposal is under the voting process.\u00a0 Source: Helium Stats In addition to this new development, Helium Mobile\u2019s network has expanded once more. According to its official website, the Carrier Offload Program is now covered by a whopping 767 hotspots. This led to users on the platform growing with nearly 200,000 non-Helium subscribers using the network.\u00a0 Exhausted HNT Might Fall Below $7.455 HNT\u2019s position was the result of continued bullishness that started last month, but the current rejection by the $8.689 resistance level will drive the token downward despite positive on-chain developments. This will lead to HNT dropping below $7.455 in the short to medium term.\u00a0 The token\u2019s nearly maxed-out relative strength index (RSI) suggests that momentum is still in the hands of the bulls. However, the bulls have lost a ton of momentum since the start of the upward drive which will hurt gains in the long term.\u00a0 Related Reading: Aptos (APT) Dips 15% As New Innovations Fail To Spark Momentum Fundamentally, HNT has great support with continuing on-chain developments and overall bullish investor sentiment. However, investors and traders should monitor the broader market as any broad swing by the market can make or break HNT gains in the long term.\u00a0 Featured image from Pexels, chart from TradingView<\/p>\n","protected":false},"author":557,"featured_media":640488,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[142,1020,1558,10818,86754],"class_list":["post-640483","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoins","tag-blockchain","tag-cryptocurrency","tag-helium","tag-hnt"],"acf":[],"yoast_head":"\nHelium Network Expansion Fuels 13% Gains Despite Weak Market<\/title>\n<meta name=\"description\" content=\"Helium (HNT) defeats the market\u2019s bearishness as its new developments drive hype for the long term. 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