Helium, the decentralized wireless network has had some dark days in the past. Even today, the price of the coin is still struggling below $5. But investors can be happy to know that some changes may stop the momentum.
Helium has seen huge uproar according to Social media engagement and mentions. Over the past month, Helium has seen a 231.9% increase in social engagement. Also, its social mentions soared 171.6%
As you can see from the chart below, the sentiment around the coin is very volatile. However, positive sentiment towards helium has increased over the past few days.
At press time, its weighted sentiment indicator stood at 3.854. It hints at a positive outlook for HNT.
However, the crypto community may change its mind in the near future.
Source: Santiment
Additionally, Helium holders have been observed to take advantage of the recent uptick in positive sentiment for the coin.
Helium’s float market cap has grown +11.60% over the past week. The coin has also expanded its reach across the crypto market as a whole. Notably, its market cap dominance has grown by 8.82% over the past 7 days.
Source: Messari
However, there are a few factors that traders should keep in mind if they are considering going long HNT tokens.
Sales of helium have been declining. It depreciated 73.51% last week. As shown in the figure below, helium also exhibits high volatility.
The spike in volatility shows that the future of the coin remains uncertain.
Source: Messari
Having said that, it’s important to note that the Binance fiasco didn’t stop Helium’s technological advancement, Sept. 20, Network Announce Its new phones will be available to consumers soon.
It remains to be seen whether the new development of Helium will have an impact on the price of HNT. At press time, HNT is trading at $4.60, up 8.83% over the past week.
That is, on September 20, Binance, leading cryptocurrency exchanges by market capitalization, Announce it will resume trading helium Withdrawals and deposits.
With HNT trading now resuming, will the tide turn in Helium’s favor? Well, only time will give the perfect answer.
