Helium’s HNT Surges 21% as Mobile Subscriber Base Grows, Signaling Further Gains Ahead

Helium’s HNT Surges 21% as Mobile Subscriber Base Grows, Signaling Further Gains Ahead

Helium’s native token HNT, has seen an impressive 21% surge over the past two days, outpacing much of the broader crypto market as Helium Mobile’s subscriber base continues to expand.

Data from Cointelegraph Markets Pro and TradingView reveals that HNT’s price climbed from a low of $7.50 on September 5 to an intraday high of $8.35, a level not reached since March 14, 2024.

According to CoinMarketCap, this recent rally has positioned HNT as the top performer among the top 100 cryptocurrencies by market capitalization.

In contrast, the overall crypto market has seen a downturn in the last 24 hours, with total market valuation dropping 1.67% to $2 trillion. Leading cryptocurrencies like Bitcoin and Ether saw losses of 2.5% and 3%, respectively.

Helium Mobile’s Subscriber Count Exceeds 112,000

Helium Mobile continues to strengthen its foothold in the telecommunications industry, marking significant milestones in its growth.

Leveraging the Helium network, Mobile connects users to a global hotspot network, enabling data sharing, tracking, and communication without depending on centralized cellular or Wi-Fi networks.

As of September 4, Mobile had amassed 112,709 subscribers, surpassing 100,000 in early August. This marks a more than 300-fold increase in just one year.

Similarly, the number of hotspots worldwide has surged from only 11 in September 2023 to 18,355 at present.

Data from Helium’s website shows that the network has expanded significantly in the U.S. and Western Europe, with growing coverage in Latin America and Asia.

Helium Mobile network usage has also risen over the past 30 days, with daily usage reaching an estimated 3,033 on September 5.

These positive developments in Helium’s decentralized physical infrastructure networks (DePIN) narrative have been a driving force behind the recent rise in HNT’s price.

HNT Price Outlook Suggests Further Gains

Technically, HNT is currently trading within an ascending parallel channel, indicating the possibility of continued upward momentum.

The chart below shows that HNT is trading above key moving averages, providing strong support against downward pressure.

Bulls are now looking to push the price above the channel’s midpoint at $8.50. If HNT can maintain its position within the channel, the token may be poised to reach the pattern’s next target of $10.50.