The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

Explosive Mid-Cap Altcoin Will Become One of the Largest Crypto Assets on the Market, According to Coin Bureau

by Daily Hodl Staff
February 25, 2022
in Altcoins

A popular crypto analyst says this 5G mobile hotspot altcoin is bound to eventually become one of the biggest cryptocurrencies.

In a new YouTube update, pseudonymous Coin Bureau host Guy tells his 1,960,000 subscribers that Helium (HNT) will one day rise above the competition.

“Helium may have a hard time in 2022, but to me, it’s a no-brainer that HNT will eventually become a top cryptocurrency.”

Helium is a decentralized network for the Internet of Things (IoT). By supporting smart contracts and enterprise applications, Helium allows IoT devices connected to the network to communicate and share data. The HNT token rewards participants such as wireless hotspot operators and validators.

Guy says Helium’s recent rise through the rankings is despite the altcoin’s aggressive tokenomics, not because of them.

“All these updates, announcements, and developments have taken HNT on a tear. And though it’s fallen more than 50% from its all-time high, it’s still in a strong uptrend. This is actually somewhat surprising given HNT’s tokenomics…

HNT’s initial inflation is fairly aggressive, with its supply going from 0 to 150 million in its first four years. If my calculations are correct, HNT’s circulating supply has increased by about 14 million in just the last four months. Assuming an average price of $30, that’s $420 million of potential sell pressure.

While it’s very unlikely that all of this newly minted HNT was sold, 35% of it went to the holders of Helium’s 10,000 security tokens as per the initial distribution schedule… A recent interview with Helium COO suggests most of the [those tokens] are held by Helium’s investors rather than the team.

What’s interesting here is that one of Helium’s biggest investors is Multicoin Capital, and it is insanely bullish on Helium as a project. As such, it is safe to assume that it isn’t selling too much HNT if any. Even so, a substantial chunk of HNT’s newly minted supply was likely sold because that remaining 65% is going to validators and Helium hotspot operators as rewards.

Funny enough, it looks like the biggest buyers of HNT have actually been Helium validators and hotspot operators – almost 1,000 validators have been added since October, and each one must have purchased at least 10,000 HNT. If you do the math, that’s almost 10 million HNT or $300 million of buying pressure.”

Guy explains that the growing network has added hundreds of thousands of hotspots in recent months, creating even more buying pressure for the mid-cap altcoin.

“Almost 400,000 hotspots have been added since October, and that means each one bought and burned $40 worth of HNT. Again, if you do the math, that’s $16 million of buying pressure. This leaves around $100 million of buying pressure unaccounted for. I reckon this outstanding amount came from speculative investors and then some.

This speculative investing has declined as the crypto market has struggled. But – recall that there are still around 2.4 million hotspot devices waiting to connect to Helium’s network. This means HNT is basically guaranteed to see a minimum of $100 million of buying pressure in the coming months, which is a lot for an altcoin with a market cap of around $2 billion.”

Helium is currently trading for $23.46, up 4.96% on the day.

I

Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Tithi Luadthong/Natalia Siiatovskaia

Submit a Press Release

Industry Announcements

  • Radix Babylon Upgrade Marks New Era for Web 3.0 User and Developer Experience
    September 28, 2023
  • Tyrion Set To Decentralize the $377 Billion Digital Advertising Industry
    September 25, 2023
  • Hydranet Launches Layer Three Dex – A Game Changer for Trustless Cross-Chain Trading
    September 25, 2023
  • Ottochain Homage to EVMOS and Ethereum Layer Two
    September 21, 2023
  • Algorand Foundation Announces Build-a-Bull Hackathon in Collaboration With AWS
    September 20, 2023
  • OKX Achieves SOC 2 Type II Certification, Demonstrating Its Industry-Leading User Safety, Security and Compliance Standards
    September 20, 2023
  • Dexalot Unveils SimpleSwap and SimpleView Features for Enhanced User Experience
    September 19, 2023
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$28,073.52
$28,073.52
3.71%
Ethereum
$1,725.65
$1,725.65
2.76%
Cardano
$0.264434
$0.264434
3.42%
XRP
$0.522918
$0.522918
1.18%
Dogecoin
$0.063255
$0.063255
1.7%

Spotlight

  • Top Trader Says Bitcoin Bottom Not in Yet, Predicts New Six-Month Lows for BTC – Here’s His Downside Target
    September 24, 2023
  • Analyst Willy Woo Says This ‘Enemy’ of Bitcoin (BTC) Rearing Its Ugly Head Again
    September 24, 2023
  • Classic Bitcoin Indicator Suggests 2024 Bull Run, Says Trader Who Called May 2021 Collapse
    September 24, 2023
  • Brian Armstrong Says Crypto Lobbying Needs To Become Powerful and Sophisticated Before 2024 Election
    September 24, 2023
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Covering the future of finance, including macro, bitcoin, ethereum, crypto, and web 3.

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash • Financeflux •
Industry Announcements

 

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON X

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2023 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX

© 2023 The Daily Hodl