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What Makes This Cryptocurrency So Important In 2024?

It is expected that cryptocurrency will grow at an unheard-of rate in 2024, making it the new power in financial charts.

Helium’s mainnet went live in July 2019 and lets low-power wireless devices send and receive data through its node network. As the name suggests, “hotspots” are nodes that can do both wireless gateway and blockchain mining.

This means that people who run nodes mine and get paid in HNT, Helium’s native currency. Helium has been working to find flaws in the current infrastructure to get IoT communication ready for the future since it was founded in 2013.

History of Prices

The value of helium has grown by almost 3000% since the beginning of the year. This makes it one of the best-performing cryptocurrencies in 2023. Helium’s price reached a high point of US$10.2 per HNT in December 2023, according to CoinMarketCap.

It had been trading at around US$0.3 per HNT in January 2023. Its market value went from about $30 million to over $1 billion, making it one of the top 100 cryptocurrencies by market cap at that time.

Helium’s price going up is due to a number of things, including

More people are looking for products and services that connect to the Internet of Things (IoT), mostly in logistics, smart cities, healthcare, and agriculture.

A report from MarketsandMarkets says that the global IoT market will grow at a rate of 10.53% per year, rising from US$761.4 billion in 2020 to US$1,386.6 billion in 2026.

Helium wants to make an IoT connectivity solution that is safe, cheap, and scalable by using peer-to-peer networks and blockchain technology.

Guessing The Price

Based on past trends and estimates, the price of helium is expected to keep going up over the next few years.

By the end of 2024, the price of helium is expected to be between US$8.45 and US$19.16. By the end of 2028, it is expected to be between US$14.86 and US$143.89.

Possible Problems and Limitations:

  • There are other IoT networks and platforms, like Sigfox, LoRa Alliance, and IOTA, that might offer the same or better services and solutions for IoT connectivity and applications.
  • The use of blockchain and cryptocurrency technology may cause problems with regulations and compliance, which could affect the legality and availability of helium and HNT. This is especially true in some countries and regions.
  • The Helium network is decentralized and spread out, which could cause security and scalability problems. This could leave users and the network open to attacks.
  • Some of the things that can change the price and value of HNT and other cryptocurrencies are supply and demand, market sentiment, events in the outside world, and market manipulation. The unstable and unpredictable nature of the cryptocurrency market is another one of these factors.

By 2024, Helium (HNT) is likely to become one of the most valuable cryptocurrencies. Helium’s value is supposed to go up by connecting underserved groups through a decentralized peer-to-peer network.

Helium’s trade prices are expected to reach about US$8.82 in 2024, so it may very well be the most popular cryptocurrency that year.

Disclaimer: Any information given in this article is just for informational purposes and not investment advice

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