The Helium cryptocurrency is a rare beast – a coin that became a token. The old Helium blockchain became moribund earlier this year when HNT migrated to the Solana (SOL) blockchain.
Helium did not immediately respond to a request for comment.
But what is Helium (HNT)? How does Helium work? Let’s see what we can find out, and also take a look at some of the Helium Price Predictions that were being made as of November 2, 2023.
Let’s examine some of the Helium price predictions being made on November 2, 2023. It is crucial to bear in mind that price forecasts, particularly for a potentially volatile asset like cryptocurrency, often turn out to be inaccurate. Additionally, please remember that many long-term crypto price predictions are generated using algorithms, which means they can change at any time.
First, CoinCodex had a Helium price prediction that saw it fall to $1.38 by November 7 before recovering to $1.64 by December 2. The site’s technical analysis was, however, extremely bearish, with 28 indicators sending downbeat signals and none making bullish ones.
Moving on, DigitalCoinPrice’s Helium price forecast said it would trade at $5.23 in 2025. CaptainAltCoin said HNT would get to $17.90 that year. PricePrediction.net thought it would reach $4.54 in two years.
Looking at a more long-term Helium price prediction, DigitalCoinPrice said it would reach $15.09 in 2030. CaptainAltCoin had it hit $44.74 that year. PricePrediction.net’s HNT price prediction said it would be worth $29.67 at the start of the next decade.
Now, let’s examine some of the highlights and lowlights of the Helium price history . While we should never take past performance as an indicator of future results, knowing what the token has achieved can provide us with some very useful context if we want to make or interpret a Helium price prediction.
HNT first came onto the open market in July 2019, when it was worth about $0.27. On June 10 the following year, it fell to an all-time low of $0.2534 before breaking past $1 for the first time in August 2020.
Early 2021 saw HNT flourish in a booming crypto market. It climbed past $15 in April and May before dropping over the summer. HNT recovered in the autumn to hit an all-time high of $55.22 on November 12 before dropping to close the year at $37.86.
HNT struggled in 2022. A series of market crashes saw it lose more than 95% of its value and it closed the year at $1.53.
So far, 2023 has been a fairly unimpressive year for HNT. A buoyant market saw it break past $3 in January and February. The platform migrated to Solana in April, but that could not stop the token dropping to $1.18 on June 28. Since then, HNT has rallied and declined hitting a high of $2.30 on August 4 and a low of $1.34 on September 11. On November 2, 2023, Helium was worth about $1.50.
At that time, there were 143.9 million HNT in circulation out of a total supply of 223 million. This gave the crypto a market cap of $212 million, making it the 143rd-largest crypto by that metric.
Helium has pretty much operated in a band between $1.20 and $2.30 for the last few months. Its current price is up around 25% from its June low but down by about 35% from its August high. The token is, however, down slightly since the start of the year.
It is hard to say. HNT has not responded as well to the move to Solana as it could have done. On the other hand, it is a long-serving platform with a fairly active community.
As ever with crypto, you will need to make sure you do your research before deciding whether or not to invest in HNT.
No one can tell right now. While the Helium crypto price predictions are largely positive, price predictions have a well-earned reputation for being wrong. Keep in mind, too, that prices can, and do, go down as well as up.
Before you decide whether or not to invest in Helium, you will have to do your research, not only on HNT but on other coins and tokens such as IOTA (MIOTA) and VeChain (VET). Either way, you will also need to make sure that you never invest more money than you can afford to lose.
Helium is a platform designed to work with the Internet of Things (IoT). This means that it can connect with devices that have internet connection but are not, in effect, computers. Game designer Amir Haleem, Napster founder Shawn Fanning, and developer Sean Carey founded Helium in 2013. However, the Helium blockchain and the HNT crypto did not come online until 2019.
The HNT crypto supports the network.
Helium aims to create a “people’s network” by using shared internet hotspots.
The platform employs a proof-of-coverage (PoC) algorithmic mechanism to verify the authenticity and positions of hotspots. When a user acquires a Helium hotspot, they join the People’s Network.
HNT rewards people who provide internet connectivity. It also pays users who validate wireless coverage and who monitor the system’s activity. People can also buy, sell, and trade it on exchanges.
Because Helium is now part of the Solana blockchain, it is no longer accurate to refer to such things as Helium coin price predictions.
On November 2 2023, there were 143.9 million HNT in circulation out of a total supply of 223 million.
It might, but not for a while. CaptainAltCoin says it can get there by 2025, while PricePrediction.net has it reaching double figures in 2028 and DigitalCoinPrice says it can get there in 2029.
Keep in mind that Helium has not traded at $10 since May 2022.
HNT rewards people who help operate the Helium network. People can also buy, sell, and trade it on exchanges.
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Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability, and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto user should research multiple viewpoints and be familiar with all local regulations before committing to an investment.