2024-09-02 11:00:41 by NewsBTC

September started weak for the broader crypto market as it burned down 3% in favor of the bears. Despite this, Helium (HNT) continues to shrug off the fear, uncertainty, and doubt that plague the market environment. According to CoinGecko, HNT went against the market consensus, rising over 16% since last week — and outperforming the top 100 cryptocurrencies on Monday. The Helium ecosystem boasts astonishing gains as it experiences continued and strong on-chain developments, several of which contributed to HNT’s short-term squeeze. The question is whether the token will continue to push through the bearish storm or succumb to the market’s will.  A Strong Monthly Start For Helium  Although the broader market remains exceedingly bearish, Helium in itself is performing well with multiple developments that support the ecosystem to flourish long-term. https://t.co/DgVMud1HbD — Helium🎈 (@helium) August 31, 2024 One of the most vital is the passing of HIP-130, or the Data-Only MOBILE Hotpots, which enables data transfer only on non-certified devices on the network. On the eve of the voting period, a whopping 96% voted for the approval of the proposal, which will aid the platform to scale and cover a wider area to service customers.  Helium also secured multiple partners throughout August as it continued to cement its position as a premier decentralized physical infrastructure (DePIN) solution. Sphere Labs, a crypto payment platform, partnered with the network which opened an avenue for Helium Mobile users to pay with crypto for their monthly bill on the platform. The two also launched a promo where users paying with crypto will get a month off on their subscriptions.  HNT is currently trading at $7.32. Chart: TradingViewTesla owners can now experience the Helium Network through Dimo, a decentralized car network, as Tesla enabled direct integration with the former’s application, giving users the ability to monetize their data. It utilizes the Helium’s IOT network, sending data through Helium every 30 seconds.  Network-wise, the mobile arm of Helium has a strong start with sign-ups peaking at over 122,00 new users. The Carrier Offload Beta was also a stunning success as it rocketed past 600,000 users, pouring over 16 terabytes of data through the program.  Rejection Forces HNT On Narrow Trading Range With the market’s hostile environment, HNT’s momentum will inevitably die off resulting in medium-term pain for holders of the token. The rejection of the $7.4 price ceiling left HNT bulls hoping for the return of bullishness in the broader market.  HNT will stabilize between $7-$7.4 trading range leaving both bulls and bears with little wiggle room to maneuver. The token’s middling relative strength index (RSI) opens the opportunity for the bulls to create momentum in HNT’s current trading range.  However, with little support from the broader market, the breakthrough rally will occur in the medium to long term instead of the short term.  Featured image from Medium, chart from TradingView Christian Encila They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one. Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.