A popular crypto analyst says that a web 3.0 coin project will eventually become one of the largest cryptocurrencies. As Kriptokoin.com, we are giving the details…
Coin Bureau draws attention to the web 3.0 coin project Helium
Coin Bureau host Guy, to his 1,960,000 subscribers Helium (HNT) one day above the competition He says he’s coming out. According to the analyst, Helium may have a tough time in 2022, but he thinks it is clear to him that HNT will eventually become the top cryptocurrency. Helium is a decentralized network for the Internet of Things (IoT). Helium supports smart contracts and enterprise applications, allowing networked IoT devices to communicate and share data. The HNT token rewards participants such as hotspot operators and validators. Guy says that Helium’s recent rise in the rankings has occurred despite the altcoin’s aggressive token economy and uses the following expressions:
All these updates, announcements and developments made HNT cry. Despite falling more than 50 percent from its all-time high, it is still in a strong uptrend. This is actually a bit surprising given the token economy of HNT… Initial inflation of HNT is quite aggressive, with it going from 0 to 150 million in the first four years of its supply. If my calculations are correct, the circulating supply of HNT has increased by nearly 14 million in the last four months alone. Assuming the average price is $30, that’s $420 million of potential selling pressure.
Is the rise of hotspots creating buying pressure?
Analyst states that it is unlikely that all newly minted HNTs will be sold. Rather than the team, it can be seen that the investors are holding them. The analyst points out that Multichain Capital is one of Helium’s investors and they are predicting an “insane rise” in HNT. It seems that HNT’s biggest buyers are actually Helium validators and hotspot operators. “About 1,000 validators have been added since October, and each 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,” he said. Guy explains that the growing network has added hundreds of thousands of hotspots in recent months, creating more buying pressure for the mid-cap altcoin.
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