Helium crypto price has done well in the past few days. HNT, its crypto token, rose to a high of $2.06, the highest level since December 2022. It has jumped by more than 35% from the lowest level in 2022. It has a total market cap of over $271 million, making it the 90th biggest cryptocurrency in the world. Focus now shifts to the upcoming Helium Solana migration.
Helium Solana migration
Helium is a major blockchain project that aims to change how the world accesses and uses data. It is a decentralized wireless network that is meant to be affordable, secure, and easy to use. Instead of relying on giant towers, the network pioneered a way in which bandwidth owners could share it and then be rewarded. According to its website, there are now over 828k hotspots that are deployed in over 5,000 cities globally.
Helium has been embraced by some of the leading players in the industry. For example, FreedomFi, a major provider started providing these solutions in April 2021. It was followed by Dish Networks, GigSky, and other major companies. Some companies have also used the network to build decentralized VPN protocol.
Helium is rapidly changing. Its chapter introduced two main features: the ability to use HNT and data credits as the economic engine for all network protocols and to accelerate the addition and growth of new network protocols in the ecosystem. As part of this change, each network protocol will become a subDAO and will have its own governance token backed by HNT.
Another change is that Helium will be moving from its own protocol into Solana, the embattled blockchain network. Solana has been embattled because of its exposure to FTX and Alameda Research. Helium’s developers have vowed to stick with Solana because of its capabilities which include faster speeds, low transaction costs, and staking capabilities.
Helium price prediction
The four-hour chart shows that the HNT price has made a strong recovery in the past few days. In this period, the token has managed to move above the 25-day and 50-day moving averages. It is slightly below the important resistance point at $2, which was the highest point on December 14. The token’s MACD has also moved above the neutral point while the Relative Strength Index (RSI) has tilted upwards.
Therefore, Helium price will likely continue rising as buyers target the next key resistance point at $2.50. A drop below the support level at $1.80 will invalidate the bullish view.