Helium Blockchain is regarded as the next big thing in Internet of Things (IoT) cryptocurrencies and aims to better communities. It is less than a decade old but has enjoyed success so far in the year 2021.
Helium pays its users in Helium cryptocurrency (HNT) to run LoRaWAN hotspots in which IoT devices can communicate wirelessly with the internet, rather than generating those connections themselves. This creates a physical decentralised wireless network for IoT devices.
Its total hotspot count is 421,915 in 157 countries and it has more than 108 million HNT in circulation – ranking second among IoT tokens in terms of its market capitalization, which exceeds $3bn, beating giants like IOTA and IOTX.
A shared hotspot network will strengthen communities by distributing wireless internet access through communities rather than by using big cellular towers to provide access.
Helium coin value reached an all-time high of $55.22 in November 2021, when its value surged nearly 705%. What factors will determine whether or not NHT gains those highs and what will be the Helium crypto forecast for the near future?
HNT explained for beginners?
Helium’s origins date back to 2013, when three individuals came together with one goal in mind: make building connected devices much easier.
The Helium blockchain, however, launched six years later, on 29 July, 2019 powering the largest, public, decentralised LoRaWAN Network globally.
By using an algorithm-based mechanism called Proof of Coverage (PoC) to check the locations and legibility of hotspots, Helium rewards its users who are contributing to the distribution of the internet by allowing them to mine for the Helium token.
Once a user purchases a Helium hotspot, they become part of The People’s Network and thus, get the opportunity to mine for HNT.
Helium hotspot owners earn Helium tokens for providing internet to neighbouring devices. Helium tokens can either be exchanged for data credits, US dollar-pegged utility tokens, which is what aids the hotspot device to surf the Helium network or simply to US dollars.
Individuals with hotspots receive a portion of Helium tokens based on how much they contribute to the network. Generally, HNT tokens can be earned in four simple ways:
- By transferring data from devices on the Helium network. PoC is used to validate wireless coverage which amounts to approximately 0.9% of earnings.
- By participating in PoC challenges and validating others’ wireless coverage. Each hotspot involved in the challenge will earn a portion of the HNT allocated for the task.
- By monitoring PoC activity of other hotspots.
- And by transferring data from devices on the network.
Helium also has a system of transaction fees which are paid in data credits.
A bullish start to the Helium token price
After nearly two years of waiting, HNT coin reached its first double digits, but the coin’s first noticeable surge came when it broke through the $1 barrier.
Data credits were announced by the company in August 2020, which caused the token’s price to increase by 250% between August 11 and 17.
Continuing its climb into September, the coin’s price climbed up to $3.17 by the end of the month, before tumbling to just above $1 by the end of the following week.
In November, Helium’s token price soared once again based on the Helium Improvement Proposal 20’s (HIP 20’s) provision for a 223 million NHT supply limit, rising from $1.35 on 18 November to $1.9 the following day. Coin prices soared in 2021, thus paving the way for more positive changes.
Platform that is easy to use and intuitive
A series of updated and releases, such as the launch of a new Helium Hotspot App, led to NHT’s price doubling in early March 2021.
In September 2021, the Helium Community voted to pass HIP 27, which made the company the first ever consumer-owned 5G network in the world. This meant that The People’s Network was accessible to even more people as it became available for mobile devices.
Following the 5G announcement, Helium opened up about its partnership with FreedomFi boosting Helium coin value to reach its first peak of $26.38 on 24 August.
Latest news suggest more good things could follow
In the latest Helium coin news, the HNT coin carried on the momentum as the company announced a new partnership with network carrier DISH Network, the first major carrier to bring Helium 5G to people.
As a result, the Helium coin surged by 149% in less than two weeks rising from $21.37 to its new record-high of $55.22.
While November has been a spectacular month for the HNT coin value, it has fallen towards $45 by the end of the month. Since then, HNT has dropped even further, plummeting by over 20% to $35.92 at the time of writing (21 December).
At the start of December, the company announced that its blockchain had faced a series of disruptions between 15 and 23 November, which could have triggered the dip in the coin’s price.
Helium (HNT) price prediction 2022-2028
Despite the latest downward price action, algorithm-based forecasting service Wallet Investor gave a bullish HNT crypto price prediction noting that it is “an awesome long-term investment” adding that it has a long-term earning potential amounting to 98.16%.
Based on its analysis of the past price performance, Wallet Investor predicted that HNT will cost $68.201 in 2022 and will reach $214.579 by 2026.
DigitalCoinPrice supported the positive Helium coin price prediction, expecting the coin to grow to $59.98 in 2022. The forecasting service saw HNT rising to $70.05 by 2025 and eventually reaching $155.45 in 2028.
Invezz cryptocurrency analyst Milko Trajcevski called Helium a token that focuses on solving “real-world problems,” which, according to the analyst, was what made the cryptocurrency so popular.
“[HNT’s] community runs a series of wireless hotspots known as LongFi, which power the Internet of Things devices we use on a daily basis,” Trajcevski told Capital.com.
“For powering this network, they get HNT tokens. This means that it provides cheap, secure internet access on a global scale which is why we might have seen its value increase,” the analyst added.
Trtajcevski noted that because of this, HNT’s chances of appreciating in price over the next year are quite high.
“It’s currently at a value of $30.67 and has the potential to reach $45 throughout 2022 and maybe higher, depending on how widespread its adoption gathers. The more the community grows, the more value the entire system will have as a result,” he continued.
Note that price predictions can be wrong. Forecasts shouldn’t be used as a substitute for your own research. Always conduct your own due diligence before investing. And never invest or trade money you cannot afford to lose.
Original article can be found at; //capital.com/helium-hnt-price-prediction
Author
Chris Munch is a professional cryptocurrency and blockchain writer with a background in software businesses, and has been involved in marketing within the cryptocurrency space. With a passion for innovation, Chris brings a unique and insightful perspective to the world of crypto and blockchain. Chris has a deep understanding of the economic, psychological, marketing and financial forces that drive the crypto market, and has made a number of accurate calls of major shifts in market trends. He is constantly researching and studying the latest trends and technologies, ensuring that he is always up-to-date on the latest developments in the industry. Chris’ writing is characterized by his ability to explain complex concepts in a clear and concise manner, making it accessible to a wide audience of readers.
