By Franklin Smith
The decentralized wireless platform Helium has witnessed some ugly days in its past. The asset’s price still struggled beneath the $5 level to date. Nevertheless, market players may be enthusiasts to know that some shifts might deter the HNT’s momentum.
Helium has witnessed a colossal uproar in social media mentions and engagement. The previous month had HNT’s social engagement metric growing by 231.9%. Meanwhile, social mentions saw a 171.6% spike.
The token’s sentiment has remained highly volatile. However, the narrative seemed to shift within the past few days, following Helium’s positive sentiment surge.
While publishing this blog, HNT’s weighted sentiment index read 3.854, suggesting an optimistic outlook. Nevertheless, the cryptocurrency community might change its stance soon.
Moreover, analysts discovered Helium holders have capitalized on the latest surge in HNT’s positive sentiment. The alt’s circulating market capitalization increased by 11.60% within the previous week.
Also, Helium has stretched its presence within the overall cryptocurrency market. The asset’s market capitalization dominance surged 8.82% over the last week.
What for Long Investors?
Nevertheless, market players should consider some factors when planning to long HNT. The asset’s volume has maintained slumps. The metric had declined by 73.51% in the past week. Also, Helium has exhibited increased volatility. The volatility surge shows the token’s future is uncertain.
Meanwhile, it’s noteworthy that the Binance crisis hasn’t discouraged Helium’s technological advancement. The blockchain revealed its new phone on September 20, and consumers can access it soon.
It remains unclear whether HNT’s new development will impact HNT’s price. While writing this blog, the alt changed hands at $4.60, dropping 8.83% within the last seven days.
Meantime, the leading cryptocurrency exchange, Binance, revealed moves (September 20) to resume Helium deposits and withdrawals. Can Binance’s HNT transaction resumption shift fortune in Helium’s favor? Time has our answer.
For now, the crypto space remained red, with bears extending the downside journey. Bitcoin has endured more dips within the past day, losing 1.79% to $18,663.79. Ethereum fell harder, surrendering 5.87% over the previous 24 hours to $1,259.59. Upcoming trading sessions remain attractive to watch.
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