The HNT Token from Helium Sees Price Uptick due to Rising Data Revenue and Token Burns

The price of the HNT token from Helium has experienced a significant uptick due to rising data revenue and token burns, which are contributing to the deflationary pressure on the network. Investors are seeing a positive outlook as the demand for Helium network tokens decrease, leading to heightened interest in the product.

Record-High Daily Data Revenue drives the price increase, with the network reaching a record-high daily data revenue of $4,070.14 on September 7th, primarily driven by mobile and IoT services. This was further supported by the network’s revenue reaching $4,764.25 on September 9th, indicating expansion.

In addition to revenue generation, Token Burns are on the Rise, with over 9.6 million data credits (DC) lost in the past 24 hours, consuming a significant portion of total HNT supply. The likelihood of more token burns is high due to the growing popularity of Helium, as stated by its founder, Amir Haleem.

The network’s increasing adoption is evident in its growing user base, with 357,267 active hotspots and 113,250 mobile subscribers, making it clear that demand for its services is on the rise. In addition to revenue generation, the growing user base is driving down HNT supply, with 7.68% of total HNT supply staked and locked away, reducing the available supply on the market.

Technically speaking, this trend is going to continue from here on out. The RSI indicates that the token is not experiencing an oversold price, and the MACD line has made a positive crossover, with 0.005 above the signal line, and the Bollinger Band’s upper band is at $8.492.

While the market for HNT tokens is still evolving rapidly, its growing revenue from data usage and increasing adoption of the network means that Helium’s native token has a bright future ahead. The Helium network and its native token’s future development will be fascinating to watch in the weeks and months ahead, thanks to the technical indicators indicating a sustained upward trend.

Want to learn more about the Helium network and its token? Check out this article on CoinSeeks.com, which provides valuable insights and information related to the topic.

The HNT token has gained 0.2% in the past 24 hours, leaving it trading below $50. As the market continues to evolve, it will be interesting to see how the token performs in the coming weeks and months.