Helium Crypto: A Smart Investment Decision?

Helium (HNT) is a blockchain platform that leverages the hotspot devices of individuals to provide network coverage. The project's main goal is to provide connectivity to underserved communities. The Helium blockchain was designed to work with the Internet of Things (IoT), which is a computing phenomenon. The HNT crypto supports the network. The Helium blockchain launched in 2019 and its price has fluctuated since then. It is difficult to say whether it is a good investment.

Helium's performance in 2023 and 2024

According to PricePrediction, the value of the Helium token is expected to increase in the coming years. They predict that the price of HNT will reach $2.35 in 2023, $3.35 in 2024, $4.73 in 2025, $6.80 in 2026, $9.98 in 2027, and finally, $15.07 in 2028. It is important to note that these predictions are subject to change and should not be taken as investment advice.

On the other hand, WalletInvestor's prediction for Helium is less optimistic. They forecast that Helium may experience a significant decrease in value over the next year, potentially dropping to as low as $0.115 in January 2024. CoinCodex also predicts a decline, with Helium dropping to $0.9763 by 4 May 2023.

CaptainAltcoin's prediction for Helium's price is relatively conservative for the short term, with a predicted value of $1.85 in March 2023 and $2.90 in January 2024. However, their long-term forecast is more optimistic, with a significant rise in value reaching $21.68 in 2025, $54.21 in 2030, and $108.41 in 2040.

Overall, the performance of Helium in 2023 and 2024 is expected to vary, with some sources predicting growth and others anticipating a decline. It is important to note that cryptocurrency markets are extremely volatile, and predictions can quickly become outdated.

The HNT token's migration to Solana

On April 18, 2023, the Helium blockchain officially migrated to the Solana blockchain. The migration began at 9 am PST, with a 48-hour window to complete the process. The Helium blockchain was halted, and a snapshot was taken of the chain state. Existing $HNT and $MOBILE were mapped to Solana, and hotspots were minted as NFTs.

During the migration, PoC and Data Transfer continued to function through the off-chain Oracle, and rewards were claimable after the transition phase. Users and exchanges could access their assets on Solana using the same private key, as Solana and Helium blockchains use the same ed25519 encryption algorithm.

As a result of the migration, all Helium Network Tokens (HNT, IOT, and MOBILE) became Solana SPL tokens. Helium Wallets use the same ED25519 curve as Solana Wallets, allowing Helium public and secret keys to map directly to Solana Wallets.

The migration process also included changes to existing Helium Wallets and Applications. Helium hotspot owners, who previously earned HNT for providing internet connectivity, now have their hotspots automatically become Solana NFTs. These NFTs, along with the Helium Network Tokens, can be viewed and managed in the Helium Wallet app.

The Helium Programs on Solana are open-source and were audited by sec3, with the report published on March 20, 2023. The audit report is available on the sec3 GitHub repo.

The migration process was supported by a Migration Widget and manual instructions for users to transfer their wallets to Solana. The Migration API could also be used to retrieve the Solana Wallet address from a Helium Wallet address.

The Helium Foundation provided a migration service for trustless wallet migration, where the full state of the Helium blockchain was converted to a list of Solana transactions and compressed into a Merkle Tree root on Solana.

The potential for Helium to reach $100

Firstly, it is important to note that Helium has never traded at $100 as of September 2024. However, some analysts believe that it might reach three-digit values in the next decade. This prediction is based on technical analysis, which takes into account various factors such as market trends, historical price data, and the performance of similar coins and tokens.

The Helium network has several unique features that could contribute to its potential growth. One of its main goals is to provide internet connectivity to underserved communities, often neglected by traditional telecom companies. This focus on community-building and decentralisation could attract more users and investors. Additionally, Helium's use of a proof-of-coverage (PoC) algorithmic mechanism to verify the authenticity and positions of hotspots allows users to join the People's Network and earn HNT rewards.

The price history of Helium provides some context for its future potential. HNT first entered the open market in July 2019 at a value of around $0.27. It reached an all-time high of $55.22 in November 2021, boosted by a partnership with 5G carrier DISH and a buoyant market. However, various market contractions and events, such as the collapse of the FTX crypto exchange, saw HNT close 2022 at $5.26. As of September 2024, the price of HNT is around $6.73 to $7.01, with some predictions placing it at $6.98 by September 22, 2024.

Looking at more long-term predictions, some sources provide the following forecasts:

• PricePrediction suggests that HNT could reach $64.40 in 2031.
• CaptainAltCoin predicts that HNT could trade at $85.81 by 2040.
• CoinPedia estimates that HNT prices could range from $103.827 to $165.031 by the end of 2030.

In conclusion, while there is potential for Helium to reach $100 in the next decade, it is important to remember that cryptocurrency markets are extremely volatile and unpredictable. Investors should always conduct thorough research and be aware of the risks involved before making any investment decisions.

The pros and cons of investing in HNT

Pros

• HNT is the native cryptocurrency of Helium, a blockchain network focused on the Internet of Things (IoT). It has a fairly active community and has been around for a while, launching in 2013 and its blockchain in 2019.
• HNT rewards people who help operate the Helium network, and it also pays users who validate wireless coverage and monitor the system's activity.
• HNT has a unique use case: it incentivises people to provide network coverage by allowing them to use their hotspot devices. This can bring connectivity to remote locations without the need for additional infrastructure.
• HNT has a maximum supply of 223 million tokens, of which over 160 million are already in circulation. This limited supply may push up the price.
• HNT can be bought on several exchanges, including Coinbase, Kraken, and Bybit.
• HNT has been a good investment for those who bought the token around 2020 and sold in 2022.
• HNT has the potential to hit $10 soon if it maintains its recent performance.
• HNT has strong fundamentals and demand. By 2040, IoT is expected to be a very big industry, which could drive higher demand for HNT and impact the price positively.

Cons

• HNT has not responded as well to the move to Solana as it could have.
• HNT is highly volatile, and its price can fluctuate significantly. For example, it reached an all-time high of $55.22 in November 2021 but fell to $37.86 by the end of the year.
• Cryptocurrencies are highly volatile and susceptible to large price swings, and HNT is no exception.
• HNT might not be a good investment if you are looking for short-term gains. For example, if you purchased HNT at the beginning of 2024, you would be at a loss of around 27%.
• HNT's price could experience notable declines in 2026 and 2027.
• The HNT token is highly dependent on the performance of the crypto market as a whole. A bear market could negatively impact its price.
• Regulatory issues could affect the price of HNT and the wider crypto market.

Where to buy HNT

HNT is a tradable token available on several major exchanges. Here are some options for where to buy Helium (HNT):

• Coinbase: Coinbase is a centralized exchange that allows users to buy, sell, and manage Helium. It is available in the United States, and users can purchase Helium with an approved payment method, including a bank account, debit card, or wire transfer.
• Binance: Binance is a major exchange that offers HNT trading with pairs such as USD and stablecoins like Tether (USDT).
• Uphold: Uphold is a top exchange in the United States and the UK, offering an intuitive and innovative trading platform. It provides a customizable trading view and allows for easy and direct trading from your deposit method.
• KuCoin: KuCoin is a well-known exchange with competitive fees and trading costs. It offers a wide range of services, including P2P exchange and credit or debit card purchases.
• Gate.io: Gate.io is a reputable trading platform established in 2013. It provides an easy-to-use interface for beginners and advanced charts for skilled traders. Gate.io maintains a strong stance against market manipulation.
• WazirX: WazirX is India's biggest cryptocurrency exchange and is part of the Binance Group. It currently offers Helium (HNT) trading opportunities to clients worldwide, but USA residents are prohibited.

When choosing an exchange, it is important to consider factors such as location, accepted payment methods, fees, and the range of services offered. It is also essential to research the credibility and security of the platform to ensure the safety of your investments.

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