Helium Price

Launched in July 2019, Helium provides a decentralized blockchain network called The People’s Network for Internet of Things devices. The goal of the project’s open-source blockchain technologies is to create a trustless model for building wireless infrastructure. The blockchain uses a form of Proof of Work known as Proof of Coverage in which miners must prove they are creating wireless networks. Devices such as the Helium Hotspot wireless router send and receive data transmitted from sensors and IoT devices, while data transmission is paid for with Data Credits.

HNT is the blockchain’s native cryptocurrency and is used to generate Data Credits. Since joining the crypto market, its price has changed significantly and if you want to know why then you’re in the right place. We’ve compiled everything you need in order to get a better understanding of HNT price – as well as the factors which influence it.

Helium Price History

Helium began trading in June 2020 at about $0.27 and improved to double that price later in the month. Prices dipped back to $0.35 in July but then surged to almost $2 in August. After consolidating around this level for about a month, HNT price suddenly spiked to $6.70 on Sep. 24.

Prices then fell back below $1 in the first week of October and declined further to a low of $0.68 a month later. A short rally in the middle of November then took HNT back above $1.90, and after some sideways and slightly downward price action, the cryptocurrency ended the year with a price of $1.30, providing gains of about 380% since it joined the market.

Prices surged in early 2021, reaching a peak above $5 in February, before pulling back to less than half that value later in the month. The bullish momentum continued throughout March and at the start of April, the Helium market cap surpassed $1 billion for the first time.

The surge carried on for the first week of April, until HNT peaked at more than $21. A significant retracement then saw prices dip below $9 before recovering to $20 at the start of May. Another pullback followed and HNT dipped as low as $8.45 during a crash of almost 50% within a single day.

Prices soared once more at the end of May, culminating in a peak at HNT’s all-time high of $22.45 on May 28. By this point, the token had provided year-to-date gains of more than 1,600% and the Helium market cap was over $1.6 billion. Prices declined sharply after that, falling below $9 in June, before rebounding to $13 in the first week of July.

Analyzing Helium Price History

Helium price history can be analyzed with many of the same techniques as the stock market. Technical analysis involves using various indicators while studying price charts in order to make sense of previous price movements. With HNT, as with many other tradable assets, large price swings are often accompanied by spikes in trading volume, as a large number of traders buy or sell their coins on exchanges. This was particularly true on Sep. 24, 2020, when HNT received a Binance listing and experienced a spike in trading volume. Listings on major exchanges bring a cryptocurrency to a much wider audience, which likely contributed to HNT’s significant price jump that day.

Fundamental analysis, on the other hand, looks at the finances and activities of a company, as well as the state of the wider market and economy. There wasn’t a premine or token sale for HNT but the Helium team raised a total of $55 million from 2014 to 2020 through selling its Helium Security Tokens to investors. The project received investment from familiar names such as Marc Benioff, Multicoin Capital, and Khosla Ventures, while its technology is used by a range of projects, including Agulus, Salesforce, and Lonestar Tracking. These could be good signs for the fundamental Helium value.

Broader market trends have also played a role in the price history of HNT. Its surge early in 2021 wasn’t unique – the entire crypto market pumped around this time. Bitcoin was in the midst of a major bull run then, and with such strong market dominance, any significant price movement for Bitcoin often impacts other cryptocurrencies.

The sudden crash in May 2021 was also market-wide, affecting every single major cryptocurrency. Various contributing factors have been suggested, including comments made by Elon Musk, a crackdown by Chinese authorities, liquidations, and a healthy market correction.

The overall price trend of HNT tends to follow what’s known as a boom-and-bust cycle. This is a pattern in which a period of growing excitement leads to a surge in price before doubt and disillusionment set in and result in a crash.

Factors Influencing The Price of Helium (HNT)

A variety of different things can affect the market price of HNT, including project news and developments, the flow of assets on exchanges, public sentiment, and emerging trends in the wider crypto and global economies.

HNT has a capped max supply of 223 million tokens, making it a scarce asset, like Bitcoin, and so potentially a good store of value in the long term. New HNT is mined to reward Hotspots, but this is balanced against the HNT that is burned to generate Data Credits in a Burn-and-Mint equilibrium token model, with the inflation rate decreasing over time.

Demand for HNT is driven by the fact that it must be burned to create Data Credits, which are the only method of payment for network services. Data Credits are used by devices on the network and are non-transferrable. They enable users to pay for blockchain transaction fees and send data via Helium LongFi.

Demand for Data Credits, and consequently for HNT as well, should rise as the Helium network expands to gain more users and devices. Events that drive adoption, such as integrations, product releases, and campaign launches, could therefore lead to a rise in HNT price.

Live Helium Value and Market Cap

The market price of HNT varies from moment to moment as it’s dictated by the balance of buyers and sellers on exchanges, which is in constant flux. 

Given HNT’s volatility, its current price can change by a large amount in a very short space of time. The market cap of Helium is equal to the price of HNT multiplied by the number of HNT in the circulating supply.

Helium Price FAQ

What is the highest Helium price in EUR?

Helium price history shows that HNT has recorded a peak value of EUR.

What is the lowest Helium price in EUR?

HNT price history shows that EUR EUR is the lowest recorded Helium value.

How can I buy Helium?

You can purchase Helium and over 290 different cryptocurrencies in seconds with Kriptomat, learn more about how to buy Helium. It’s available for immediate purchase at the current HNT price quote of EUR. Current prices are always displayed in the HNT chart.

What is the current Helium price in EUR?

Kriptomat data confirms that the current Helium price is EUR.

How is the price of HNT calculated?

HNT’s price at any given time is decided by the balance of supply and demand on exchanges. When more people are buying HNT than selling it, the price goes up, and when more are selling than buying, the price goes down.

Why is the price of HNT different on each cryptocurrency exchange?

HNT’s price is based purely on trading as there is no standard global Helium price, so no one knows what it is “supposed” to cost. The trading volume and liquidity are different for each exchange and those differences are what affect the price.

What will HNT be worth in the future?

It’s impossible to make price predictions with any kind of absolute certainty, as a whole host of different factors could play a role in determining the future HNT value. However, if more users and devices join the network, the increasing demand for Data Credits could lead to a rise in HNT price.

Conclusion

Since joining the crypto market, the price of HNT has changed significantly, going from lows of under $0.30 to highs of over $22. The journey has rarely been smooth, however, as HNT’s volatility has led to surges and crashes along the way.

Many different factors have played a role in determining the price of HNT, including demand for Data Credits, the number of devices and users on the Helium network, and trends in the rest of the cryptocurrency market and wider economy. Its current valuation is derived from the balance of supply and demand in the markets and constantly changes.

If you want to get started with the most user-friendly trading experience on the market, register with Kriptomat today to begin your journey into the world of Helium and cryptocurrencies!