An altcoin project aiming to merge blockchain technology and wireless networks is in the midst of a rapid rise, far outperforming Bitcoin (BTC) and the altcoin markets at large.
Helium (HNT) shot from a low of $29.60 last Thursday to $54.05 in just seven days – a staggering 82% rally.
The token is now the 43rd-largest crypto asset on the market, with a $5 billion market cap.
Helium aims to build a fully decentralized and global wireless network powered by open-source technology.
The platform is designed to allow people and organizations to operate WiFi hotspots and earn HNT as a reward for powering the network.
HNT’s rally comes as the platform completes its first on-chain governance vote, allowing owners of the crypto asset to play a role in shaping the project’s future.
It also follows an announcement from DISH Network late last month detailing a new partnership with Helium.
The internet service giant says it will be the first major carrier to utilize Helium’s blockchain-based incentive model and allow customers to install their own 5G hotspots.
The two organizations are exploring strategic ways to further leverage blockchain technology with wireless communications.Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
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Featured Image: Shutterstock/bestfoto77/Natalia Siiatovskaia