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Helium secures top gainer spot with 12% surge in 24 hours

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Helium, a blockchain-based network designed for the Internet of Things, experienced a price surge of 12% on Aug. 10 morning, making it one of the leading gainers in the crypto market.

At the time of writing, Helium (HNT) was still up 10%, exchanging hands at $6.5 per price data from crypto.news. The crypto asset’s daily trading volume jumped by 9%, hovering around $29.7 million, while its market cap stood at $1.1 billion, ranking it 68th among the top largest cryptocurrencies.

Helium secures top gainer spot with 12% surge in 24 hours - 1
HNT 24-hour price chart | Source: crypto.news

The token’s price has jumped by 80% since its drop to $3.65 on Aug. 5, when the crypto and stock markets crashed, leading to over $1 billion in liquidations.

Despite its recovery to levels last seen on March 21, HNT is still down 88% from its all-time high of $55.2 recorded in November 2021.

Founded in 2013 by Helium Inc., Helium enables wireless communication for IoT devices worldwide through its decentralized blockchain network. This model provides a scalable and affordable alternative to traditional telecom services by empowering individuals to host network points using Hotspots.

The latest price jump comes following an Aug. 9 announcement from Helium that two major U.S. carriers have started testing to offload their traffic onto the mobile network.

According to charts, approximately 307,860 subscribers from these carriers are participating in the beta offload program.

The participation of these major carriers emphasizes the potential of decentralized infrastructure, with initial results showing promising trends, as demonstrated by the impressive performance metrics reflected in the charts.

Helium could see a reversal from current highs

Notably, Helium’s latest price positions it above the upper Bollinger Band at $6.4100, the middle band at $5.1526, and the lower band at $3.8953.

This suggests that HNT has experienced a substantial rise to step outside the typical upper limit of its trading range.

Helium secures top gainer spot with 12% surge in 24 hours - 2
HNT Bollinger Band and RSI – Aug. 10 | Source: crypto.news

While the price surging past the upper Bollinger Band might indicate initial signs of an overbought condition, the extent to which it has exceeded this band typically signals a strong bullish momentum.

This could suggest that there might be additional room for growth before encountering resistance or a possible retracement.

Additionally, the Relative Strength Index is currently at 69. This indicates that the cryptocurrency may soon reach the overbought level, suggesting a potential retracement could be on the horizon.

However, market analysts remain bullish on Helium’s prospects.

In an Aug. 10 X post, analyst Javon Marks noted that Helium has broken out of its secondary setup, indicating a strong upward trend, which may lead to a potential jump in HNT to $52.76, with a potential rise of over 651%.





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Blockchain

Horizen spikes 60% to lead gainers as BTC, ETH bounce

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Horizen price spiked more than 60% in 24 hours as the cryptocurrency market looked to recover from a massive dump that saw top altcoins crash to key support levels.

On Dec. 20, as Bitcoin (BTC) traded to above $97k and Ethereum (ETH) bulls pushed above $3,400, the price of Horizen (ZEN) surged to highs of $26.34. The cryptocurrency, which rallied sharply following a recent Grayscale Investments announcement, reached a multi-year high and ranked among the top gainers in the 500 largest cryptocurrencies by market cap.

ZEN traded at lows of $14.55 on Dec. 19. However, despite the broader crypto crash and the staggering $1.4 billion liquidations, the altcoin’s price hovered above $26 in early trading during the U.S. trading session.

According to crypto.news price data, Horizen recorded a 24-hour trading volume of over $397 million, with its market cap exceeding $407 million. These metrics reflected increases of 294% and 62%, respectively, in the past 24 hours. While ZEN has surged nearly 200% over the past month, its current levels are still more than 84% below the all-time high of $168 reached in May 2021.

If the broader crypto market continues to rebound, ZEN bulls may aim for March 2022 highs near $50.

The positive momentum has benefited from Grayscale opening of the Grayscale ZEN Trust to qualified investors. Prices of the altcoin rose as the digital asset manager unveiled the fund to offer exposure to Horizen for qualified investors.

Earlier this month, Horizen’s native token underwent its final halving, which came as the project geared for a key change in its tokenomics. ZEN will not see any further halvings as the new network mechanism enables a declining emission rate.

That’s because Horizen, is shifting from the proof of work mining model that mirrored Bitcoin’s halving cycle to a new proof of stake mechanism in 2025. Horizen’s last halving occurred on Dec. 12, 2024.

New tokenomics for Horizen will come into effect in the first half of 2025.



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Alpha

World’s Largest Crypto Exchange Rolls Out ‘Binance Alpha’ Feature to Spot Early-Stage Projects With Potential

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Binance, the largest crypto exchange in the world by volume, is launching a new wallet feature aimed at shining a spotlight on nascent crypto projects.

According to a new Binance announcement, Binance Alpha is “a new platform within the Binance Wallet that shines a spotlight on early-stage crypto projects with the potential to grow within the Web3 ecosystem.”

The press release says the platform is committed to enhancing transparency in Binance’s token listing process by prioritizing projects that showcase strong community engagement, substantial traction, and alignment with key crypto trends.

Binance Alpha is part of Binance’s broader effort to promote innovation and expand the Web3 ecosystem by connecting users with promising blockchain projects at an early stage, per the announcement.

Binance says the new system includes the following features:

“Spotlight on Innovation: Explore tokens gaining traction in Web3, providing a deeper understanding of projects that matter in the evolving crypto landscape.

Quick Access: Seamlessly purchase tokens through the Quick Buy feature directly from the Binance Wallet. It optimizes the existing Swap functionality, resulting in a higher successful transaction rate and better prices compared to other DEXs or trading bots…

Educational Insight: Learn about emerging projects, their use cases, and the narratives driving their popularity within the blockchain ecosystem.

Expert Curation: Featured tokens are selected using Binance’s advanced insights and observation list, ensuring they align with market trends and community interests. While there is no guarantee, some tokens may be considered for listings on Binance Exchange in the future.”

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Blockchain

Solana gains top spot in daily net inflows with $12M, beating all other blockchains

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Solana’s daily net inflows have surpassed all other major blockchains, including Sui, Base, Arbitrum and Ethereum. On Dec. 15, the Solana network accumulated net inflows of $12 million.

According to data from Artemix.XYZ, Solana (SOL) recorded the highest number of daily net inflows among the top 20 major blockchains on Dec. 15. Solana’s net inflow of $12 million was larger than the other two blockchains in the top 3, Arbitrum (ARB) and Sui (SUI), combined.

Solana regained the top spot a month after the blockchain last held it on Nov. 17 with $17.6 million. On Dec. 15, Solana dethroned Arbitrum, yesterday’s reigning champion, which held the number two spot with a daily net inflow of $5.9 million.

Solana gains top spot in daily net inflows with $12M, beating all other blockchains - 1
Data from Artemis.XYZ showed Solana gained the top spot for daily net inflows on December 16, 2024 | Source: Artemis.XYZ

In third place, Sui accumulated a daily net inflow of $5.3 million, followed by OP Mainnet with $2.2 million and Base with $2.1 million. At the very bottom of the list is the Ethereum (ETH) blockchain with a net outflow of $25.4 million.

A recent surge in Solana revenue is often linked with a similar surge in the meme coin sector, specifically from pump.fun, a launchpad site for Solana-based meme coins. But that is not the case this time around.

According to data from Dune analytics, pump.fun saw its daily revenue dip slightly by 6% from $2.67 million on Dec. 14 to $2.51 million on Dec. 15. Pump.fun’s revenue peaked on Nov. 23 with $14.3 million, but has failed to pass the $5 million mark ever since.

Solana’s end-of-year sprint

In the past few months, Solana has achieved quite a few milestones as the year is nearing its end. As previously reported by crypto.news on Dec. 13, Solana was deemed the fastest-growing blockchain, with an annual growth of up to 83%. Solana even surpassed the largest blockchain in the world, Ethereum.

In November, Solana’s monthly decentralized exchange trading volume reached $109.73 billion, surpassing the $100 billion threshold for the first time in crypto history. The leap in Solana’s trading volume came a few days after Solana’s price went beyond $200 for the first time in seven months of trading after a 8.69% rise. The token later reached an all-time high of $263.21 on Nov. 23.

At the time of writing, Solana is currently trading hands at $220.76, having gone up by nearly 2% in the past 24 hours of trading, according to data on crypto.news. Solana has a market cap of around $105 billion and a fully diluted valuation which stands at more than $130 billion.



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