Top trader predicts this altcoin would see a 10x pump next year
The popular host of crypto channel Coin Bureau unveils his price expectation for Helium (HNT) and reasons for his bullish on this “valuable cryptocurrency”.
Helium (HNT) is a decentralized blockchain-powered network for Internet of Things (IoT) devices. According to the trader, the Helium mainnet allows low-powered wireless devices to communicate with each other and send data across its network of nodes.
“Nodes come in the form of so-called Hotspots, which are a combination of a wireless gateway and a blockchain mining device. Users who operate nodes thus mine and earn rewards in Helium’s native cryptocurrency token HNT.”
HNT is the native cryptocurrency of the Helium blockchain. HNT has a maximum supply of 223 million, and there was no pre-mine and no ICO. According to the trader, this means HNT’s supply started from zero, and in the first two years, a total of 120 million HNT were minted. Helium recently saw its first halving event, which cut this annual emission down to 30 million.
HNT price catalyst and price potential
In terms of price movement, HNT has been in a sustained uptrend for over a year, and this uptrend accelerated in April when the Helium community voted to introduce support for 5G infrastructure.
In August, HNT price spikes again to its ATH of $26.5. According to the trader, there are 3 main reasons for HNT rally.
The first one is the HNT halving, which took place on August 6th. Secondly, on August 10th, Helium announced that Andreessen Horowitz had led a massive VC funding round for HNT, which totalled over 111 million dollars, and featured other big names such as Alameda Research. And lastly, on August 31st, FreedomFi announced that it would be the first to manufacture Helium hotspots with 5G support.
“Given that Helium has onboarded over 150,000 hotspots for its IoT network in less than a year, we will see at least the same amount of exponential growth for its 5G network and probably much more.”
According to the crypto KOL, if legacy internet service providers begin leveraging Helium as part of their own 5G infrastructure, this would turn the HNT demand dial up to 11. Hence, this would send HNT to another moon rally. With a market cap of under 2 billion, the trader expects HNT could easily 10x within the next year.