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Helium is a blockchain-powered decentralized network that serves the IOT devices or Internet of things. We will see more about it later, but for now, let’s try to understand its tokenomics and see how experts and people who know crypto think about helium token prices in the future.
HNT is the helium network’s native token. Primarily, the token gets used to reward operators who manage the Helium network’s hotspots. The operators participate in the helium network’s security and building of helium hotspots.
Another use case of helium crypto HNT is to pay the transaction fees on Helium in DC or data credits. The data credits are usually produced by burning Helium tokens.
Rollercoaster ride to skyrocket journey of Helium token Price
HNT price or helium token price have made breakthroughs in the past months. But to get an idea of where it could lead, first, let’s see from where it came wherever it is today.
In July 2019, the first helium block was mined from there, the helium token price started surging and crossed the $1 mark over a year. After that, when Helium decided to launch another helium crypto with data credits, there was a spike in helium crypto price.
Launch of Data Credits resulted fruitful for Helium network and HNT. Just the announcement made the helium token price jump from $0.67 on August 11 to $1.77 on August 15, more than double in just four days.
Maintaining the momentum helium crypto price crossed $2 when the data credits ratio to HNT was updated in the HIP or Helium Improvement Proposal. After that, in the following month of October, the price went down by $1.
But in November 2020, another HIP came with the proposal of setting a maximum supply of 230 million helium crypto HNT. Along with this, the announcement also included the concept of the halving of helium mining. That mentioned halving helium mining per month and halving will be done every two years.
Soon after the announcement, the helium token price again reached $1.80 in November.
When the baseline set too high for helium crypto price
Only announcements reflected positive impacts in price, but the helium crypto price skyrocketed after the implementations in the helium network.
At the beginning of 2021, the helium network was attaining new heights, and so did the helium crypto price. From January it started going up, and till march, it went $5. Then came April when the Helium network announced its most anticipated plan to make the world’s first 5G network owned by consumers.
As the announcement made the helium token price break, all the previous barriers skyrocketed and went up to $18.6 in April and even $19.5 in May. After that, the helium token price waited along to reach $20 but finally did it in August.
August 2021 turned out to be the celebration time for the helium network
The same month included more events which boosted the price more. The earlier announced halving of the helium network’s token mining took place on August 1. The network got $111 million of funding in the same month by a token sale organized by Andreessen Horowitz.
These events resulted in the helium crypto price reaching $24.8 at the end of August. Fast forward to November, showing gradual growth, the helium token price reached $28.2. But suddenly, the price of HNT started moving upwards and crossed $55.22 on November 22.
To date, it was the all-time high of helium crypto price, and after that, the whole November month, it was hovering around $43. But in December 2021, the global crypto market started dropping, reflected in the helium token price, which went down to $26.03.
Helium networks have seen a bullish year from 2021 beginning of 2021, but the same did not repeat with 2022. In January, the price dropped again to $19. 9. Although the price recovered in February 2022, it is currently trading at $26.62 at the time of writing.
Helium Price Prediction
Nothing can be said with complete surety, and when it comes to crypto, the prediction of even a day can’t be said utterly right because of its sudden fluctuations. But still, considering the past performances of helium token price and their plans and roadmap for the future, it would give us some idea about what the Helium network could expect.
Different exchange firms or crypto price prediction agencies have estimated HNT helium price prediction.
As it follows, DigitalCoinPrice assumed that the helium token price would reach $39.9 while the high for the token will be around $40.9, which would be attained in October. In the long term, it is estimated to reach an average of $58.7 by 2025.
PricePrediction.net also projected helium token price positively. It suggested a year high for 2022 go up to $46.4, till 2025 it predicted to go till $147.49, and it showed the highest price prediction of helium token price to reach up to $1,034.8 till the year 2030.
Another prediction by Gov Capital for helium token price suggests that it might break the barrier of $50 in 2022. For the next five years, it assumed that the helium crypto price would reach $935.2.
Currently, there are approx 112,449,001 HNT helium tokens in supply.
Helium — a network with the aspiration of bringing ultra fast and decentralized internet
One of the revolutionary inventions of all time ‘The Internet’. The world we see today seems too small now as everything is in our reach. Any data or information about anything is available to anyone anytime with a single click of a button.
The phenomenon of how the Internet works is the exact opposite of its scale of use. The whole world is connected today through the Internet that is based on the simple concept of ‘interconnection of network’. See, we have just made its definition on our own, and that’s how it works, accessible to anyone to change, add, suggest anything.
Number of projects are working for the sake of decentralized Internet or Web 3 ideas. One among them is Helium; let’s look into what it’s working like, what’s their plans, what they have done yet and where it could lead them?
Helium Network launched in 2019, and its mainnet had allowed wireless devices with low power to communicate and send data across their nodes network. These nodes are the Hotspots, as the Helium network calls them.
A Helium hotspot is a blockchain mining device and a wireless gateway. As we discussed earlier, operators of these hotspots get rewarded by HNT token for their helium mining operations, so they could also be called helium miners.
Helium network aimed to prepare IoT communication set up. Following that, it used to route the data for long-range with low powered IoT devices that run on Helium network’s LongFi protocol.
It’s a decentralized, open-source wireless network based on blockchain for physical world usage. The blockchain of the Helium network uses a novel mechanism called Proof of Coverage and consensus algorithm based on HoneyBadger Byzantine Fault Tolerant.
Advancement in technological aspects and operation of the Helium network makes it more worthy and interesting to look upon. Like its recent hotspots, it provided several miles of wireless network coverage using Helium LongFi.
For which helium miners will be rewarded in HNT. The mentioned mechanism would be energy efficient, using which the hotspots would consume energy up to 5 Watts. Those hotspots are available on Helium networks official website. Some of them are Bobcat, Cal-Chip, ClodPI, Dragino and many more.
As here we discuss helium networks, it has set up approximately 577 926 hotspot devices worldwide and still counting.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
