Helium (HNT) Gains 20% With New Token Announcements

HNT gains 20% as two 5G-centric cryptocurrencies are announced. Will Helium continue to defy gravity?

HNT, the native token of the Helium blockchain, has gained 20% today as the organization releases new information about two forthcoming cryptocurrencies. These new tokens, MOBILE and IOT, will launch later this month and in August respectively, and will further the mission of Helium by further incentivizing node operators to contribute coverage to Helium's network. The Helium network plans to turn HNT into a reserve currency, placing more focus on its new cryptocurrencies. The rise and fall of HNT, MOBILE, and IOT all rely on the success of Helium's mission.

Connecting with Helium

On the Helium network, participants use their own hotspots, which consist of a network gateway and a crypto miner. These set-ups provide coverage for the Helium network and also mine for HNT. Helium's mission is to improve the connectivity between devices on the Internet of Things, or IoT. This is essentially every device that communicates with another over the internet.

With Helium upping its connectivity game with 5G capability, the connection speeds between devices on Helium's network will increase drastically. In order to further incentivize more individuals to contribute to Helium's network by operating their own nodes, Helium is releasing two new types of cryptocurrencies that will be rewarded to miners instead of HNT. What does this mean for HNT?

HNT going forward

As the Helium blockchain transitions itself into a wider-reaching ecosystem, developing its own DAO through which the community can govern the network's protocols, HNT is intended to become a "reserve currency," while MOBILE will be the major reward for 5G node operators, and IOT will allow users to earn currency for the original LoRaWAN network. While HNT is rising in anticipation of Helium's new phase, it might become less frequently mined if more and more of Helium's node operators prefer to mine for MOBILE instead. The token is intended to remain a part of the Helium ecosystem, however, and it could serve as a good fallback plan for Helium should the two new digital currencies fail to get off the ground. As all three coins are closely connected, their values may follow each other as well. Any investors who have committed to HNT will want to keep a close eye on MOBILE and IOT as they emerge.

The bottom line

HNT is experiencing major gains as the Helium network prepares for a new phase of life. If the Helium network is able to increase connectivity speeds between devices on the internet of Things and provide sufficient value to the world at large, HNT could continue to rise along with the emerging cryptocurrencies, MOBILE and IOT. These cryptocurrencies will most likely work in tandem with each other on the Helium network. Major changes for the network will most likely affect the values of all three and connect them to each other. If one cryptocurrency rises or falls, it is likely that another of the three will follow suit. As it stands, HNT holders are riding high on the verge of Helium's changes.

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