October 6, 2022

Helium, a decentralized wireless network, has seen some dark days in the past. Even today, the price of the token continues to struggle below the $5 mark. But investors can be happy to know that some changes could reverse the momentum.

Helium was huge alert in terms of social media engagement and mentions. In the last month, Helium’s social engagement increased by 231.9%. And his social media mentions saw a 171.6% increase

The sentiment around the token has been very volatile, as can be seen from the image below. However, the last few days have seen an increase in positive sentiment for helium.

Its weighted sentiment metric, at press time, was 3,854. This suggested a positive outlook for HNT.

However, the crypto community may change its mind in the near future.

Source: Sentiment

Furthermore, it can be noted that Helium holders have capitalized on the token’s recent surge in positive sentiment.

Helium’s market cap has increased by +11.60% over the past week. The coin has also expanded its presence in the overall crypto market. It is significant that its market dominance increased by 8.82% in the past seven days.

Source: Messari

However, there are a few factors that traders should keep in mind if they are thinking about using HNT tokens long-term.

The amount of helium is decreasing. It depreciated by 73.51% during the last week. Helium also showed high volatility as can be seen in the chart below.

This spike in volatility indicates that the future of the token remains uncertain.

Source: Messari

That being said, it is important to note that the Binance fiasco did not prevent the technological progress of Helium, the September 20 network announced its new phone that will soon be available to consumers.

It remains to be seen whether Helium’s new development will affect the price of HNT. HNT was trading at $4.60 at press time with a price appreciation of 8.83% over the past week.

However, on September 20, Binance, leading crypto exchange by market capitalization, announced for which they will continue transactions Helium payment and deposit.

With HNT trading now resumed, could the tide be turning in Helium’s favor? Well, only time can give the perfect answer.

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