Smaller cryptocurrencies are drawing greater attention from investors while larger well-known ones are taking a break following significant increases. One of the lesser-known altcoins is making some big noise: Helium Mobile (MOBILE) has surged by about 1,000% in the past seven days.
Leading the way in the cryptocurrency market’s dynamic trend toward smaller-cap cryptocurrencies is Helium Mobile, whose price has surged by 32% to $0.0072 in the previous day. The altcoin’s trading volume has increased by almost 200% to $20 million, reflecting its recent spike. The market valuation of the coin has broken above $500 million.
Within the Helium Mobile Network, the Helium Mobile token is a native protocol token. Helium Network tokens (HNT) provide support for MOBILE tokens because of the strong relationship between the two.
MOBILE Token Soars With Helium’s Expansion
August 12, 2022, saw the issuance and launch of the MOBILE token. However, it didn’t begin trading on public exchanges until 2023, when its starting price was about $0.0002821. Up until the first week of December, the MOBILE token was trading in a similar range.
Helium’s recent introduction of its competitively priced $20 monthly nationwide unlimited mobile services is the reason for the company’s sharp price increase. The mobile virtual network operator (MVNO) has acquired an estimated 8,000 members as a result of this calculated approach.
HNTUSD currently trading at $8.74 territory. Chart: TradingView.com
The incorporation of blockchain technology into Helium Mobile’s service is a distinctive feature that gives users the opportunity to get “mapping prizes.”
There are currently over 363,000 Helium hotspots worldwide, according to data on its platform, and as the price of HNT tokens grows, this trend may continue.
About 34,000 users downloaded the app and chose to map, but they haven’t subscribed to Helium’s services yet, compared to 8,000 who have already done so. To reach these notable figures in a matter of days for a new application is noteworthy.
Source: HeliumGeekHelium Mobile Surge Defies Crypto Downturn
Helium Mobile and its mapping service have gained thousands of new clients as a result of MOBILE’s explosive price increase this month—it has increased by over 2,000%. According to data portal Helium Geek, more than 6,700 wallets received MOBILE prizes on Sunday—more than twice as many as a week earlier.
The value of Helium Mobile is simply performing better than most of its peers despite the overall decline in the cryptocurrency market.
Featured image from Shutterstock
Disclaimer: The article is provided 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.
