Helium (HNT) continues its upward trend despite the market dip. According to Coin geckothe token is up almost 15% since yesterday, fueled by the recent on-chain developments that will expand on Helium’s decentralized physical infrastructure (DePIN).
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Recently, Helium’s official X account announced the voting period for two crucial proposals for Helium Mobile. These two proposals, aptly named HIP 130 and 131, have led to speculation about HNT’s performance in the near future.
Helium proposes new security measure against malicious activities
HIP 130, entitled ‘Data-Only Hotspots’, suggests that the network should increase its reach by using a hotspot that uses password authentication. These devices may come from non-certified Helium Hotspot suppliers.
These new hotspots will work almost exactly the same as their Helium-made counterparts, except they will be used to relay already paid-for data. Users of this new type of hotspot will be rewarded with MOBILE, one of the tokens within the Helium ecosystem.
Besides this, HIP 131, called ‘Bridging the Gap Between Verification Mappers and Anti-Gaming Measures’, will implement a new system to protect the network’s reward system. The proposal is an “extension” of HIP 125 (Temporary Anti-Gaming Measures for Boosted Hexes) and modifies the latter to better protect the network.
The new system works by limiting Oracle Hex boosts in points of interest (PoIs), reducing the reward multiplier if a hotspot engages in malicious activity. To get the boost back, that hotspot only needs to submit 1 accurate Call Detail Records (CDR).
At the time of writing, both proposals are still being voted on and the community has only 11 hours left to act on them.
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HNT stabilizes between $6.8 and $7.5
At the time of writing, the token is trading well between $6.8 and $7.5, with momentum on the bulls’ side. The current trajectory targets long-term gains well above $8. This significant price increase is accompanied by a proportional increase in HNT’s momentum. However, there could be barriers to the nascent rally.
HNT’s position, while large in itself, is hampered by the dip in the market which further hinders any increase in momentum. Helium can move on its own – only for a short time. How short this time frame could be is up to speculation as it could drop next week or next month.
For now, investors and traders can buy a small position in HNT while keeping an eye on broader market sentiment, which is unfortunately bearish at the moment. Once the situation improves, we will see a rally, breaking $8 or possibly $10 in the long term. Until then, caution is advised to protect long-term profits.
Featured image of Fortune, chart from TradingView
