The Helium Network’s HNT token, which is based on Solana, reached a high value of over $5 over the weekend after its price went up by 60% in just seven days.
HNT’s price went down to $4. 70 at the moment because the overall market is also going down.
This good performance shows that the network is doing better now, even though it had problems before. It was in the news for bad things about its product, and it was also changing its blockchain to Solana.
Even though HNT has been doing really well lately, it still has a way to go before reaching its highest value ever. CryptoSlate’s information shows that it has decreased by 91% from its highest point of $54.
What made HNT’s price go up or down.
HNT’s price went up a lot because of the new $20 monthly phone plan from Helium Mobile. This plan gives users unlimited data, talk, and text in the United States.
Helium’s service lets you connect to the internet for less money than other companies. This saves the average American about $157 each month on their phone bill.
The connectivity services use Helium’s 5G network to help people set up small cell towers and make the network coverage bigger.
“With Helium Mobile Hotspots, users can have their own ‘mini cell towers’. ” The company said that anyone can now help improve the network by setting up a hotspot, which will make dead zones disappear.
Nova Labs, the company that runs Helium Network, teamed up with T-Mobile to make Helium Mobile work in places where the network doesn’t reach.
In addition to Helium Mobile being launched, HNT has also gained from the overall positive feelings about the Solana network community. In the last year, Solana has done well even though it was linked to the disgraced FTX founder Sam Bankman-Fried in the past.
This comeback has been very important in getting more people to join its system and there are guesses that it could become more popular than Ethereum, a similar blockchain network.
“VanEck, a company that manages assets, thinks that ETH will start to lose some of its market share to other smart contract platforms like Solana, because those platforms have a clearer plan for their growth. “
