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.
DISH Network is an early adopter of blockchain technology and first began accepting Bitcoin back in 2014.
DISH also announced a partnership with IOHK, the company behind Cardano (ADA), in September.
The two organizations are exploring strategic ways to further leverage blockchain technology with wireless communications.Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
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Featured Image: Shutterstock/bestfoto77/Natalia Siiatovskaia