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The Helium Network's native token, HNT, has experienced a significant 21% price increase over the past two days, largely driven by growth in the Helium Mobile subscriber base and an expansion in the number of hotspots.
As reported by Cointelegraph Markets Pro and TradingView, HNT's price surged from a low of $7.50 on September 5 to an intraday high of $8.35, marking levels not seen since March 14, 2024. This rally has positioned {Helium} (HNT) as the top gainer among the top 100 cryptocurrencies by market value, even as the overall crypto market valuation has declined by 1.67% to approximately $2 trillion. In contrast, Bitcoin and Ethereum, the two largest cryptocurrencies by market capitalization, saw decreases of 2.5% and 3% respectively.
Helium Mobile has achieved notable milestones, further strengthening its position within the telecommunications sector. The service, which leverages the Helium network for data transmission and communication independent of traditional cellular or WiFi networks, has seen substantial growth. As of September 4, Helium Mobile's subscriber count surpassed 112,000, up from over 100,000 in early August. This represents a more than 300-fold increase over the past year.
The number of Helium hotspots has also grown dramatically, rising from 11 in September 2023 to 18,355. The expansion is particularly notable in the United States and Western Europe, with growing networks in Latin America and Asia. Helium Mobile's network usage has increased, with daily totals reaching an estimated 3,033 on September 5.
From a technical perspective, HNT is trading within an ascending parallel channel, indicating a continuation of the uptrend. The token's price is currently above all major moving averages, suggesting strong support levels. The next key resistance level is at $8.50, with for further price movement toward $10.50 if the upward trend persists.
