Crypto analyst and trader of the popular crypto channel Coin Bureau, nicknamed Guy, explains his price forecast for Helium (HNT) and the reasons for the bullish expectation on this “precious altcoin”. we too cryptocoin.com We have prepared the analyst’s evaluations for our readers.
Overview of the altcoin project
Helium (HNT) is a decentralized, blockchain-powered network for Internet of Things (IoT) devices. According to the crypto analyst, the Helium mainnet allows low-power wireless devices to communicate with each other and send data over the node network:
Nodes come in the form of Hotspots, which are a combination of a wireless gateway and a Blockchain mining device. Users who operate nodes thus mine Helium’s native cryptocurrency token HNT and earn rewards.
HNT is the native cryptocurrency of the Helium Blockchain. HNT has a maximum supply of 223 million and has no pre-mining and ICOs. According to the analyst, this means that the supply of HNT starts from scratch, with a total of 120 million HNT printed in the first two years. Helium recently saw its first halving event, which reduced that annual emission to 30 million.
HNT price catalyst and price potential
In terms of price action, HNT has been in a continuous uptrend for over a year, and that uptrend accelerated in April when the Helium community voted to support 5G infrastructure.
In August, HNT price rose again to its $26.5 ATH. According to the trader, there are 3 main reasons for the HNT rally. The first of these is the HNT halving, which took place on August 6th. Second, on August 10, Helium announced that Andreessen Horowitz had spearheaded a major VC funding round for HNT totaling more than $111 million, and other big names like Alameda Research were involved. And finally, on August 31, FreedomFi announced that it will be the first company to produce 5G powered Helium hotspots. In terms of the impact of the developments on the HNT price, the analyst makes the following assessment:
Considering that Helium has joined over 150,000 hotspots for the IoT network in less than a year, we will see at least the same amount of exponential growth for the 5G network, and possibly much more.
According to the crypto analyst, if legacy internet service providers start leveraging Helium as part of their 5G infrastructure, this will increase the HNT demand quadrant to 11 and hence, this will send HNT to another lunar rally. The analyst expects the altcoin project, which has a market capitalization of under 2 billion, to easily increase 10 times over the next year.
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