Tag: decentralized physical infrastructure

How Helium’s buyback program could push HNT towards $4

The post How Helium’s buyback program could push HNT towards $4 appeared com. Key Takeaways What’s driving Helium? The price of Helium was driven by the token buyback program’s fees, DEX trading volume, and transfers. Will HNT price reverse? If the inverted heads-and-shoulders pattern held, HNT could revert to the upside, shifting the structural outlook. Helium [HNT] is one of the leading decentralized physical infrastructure networks (dePIN) on the Solana [SOL] blockchain. The altcoin has risen more than 16% in the past month, thanks to its buyback program that rolled out on the 20th of October. The daily volume of the token spiked by only 25%, clocking $17 million, at press time. The price action of the altcoin is forming a bottoming pattern. However, will the on-chain activity and fundamentals of the token enable a complete reversal in its price? HNT fees vs. buyback program Analyzing the Helium Network’s fee generation alongside its token buybacks reveals a clear trend. Since the 20th of October, HNT has been using collected fees to repurchase its own tokens, effectively managing the circulating supply. While these buybacks initially boosted HNT’s price, the impact has leveled off since early November. Over the past month, an average of $30,000 worth of HNT has been repurchased. Token transfer and DEX volume surge Similarly, the token transfer and DEX volumes were also on the rise. The total transfer hit the $30 million mark on the previous day, as per Solscan data. The token’s DEX trading volume also hit $3 million, which was the highest in the past week. The total transfers on DEXs exceeded 40K, with the trajectory being parabolic since November 11th. The total for sales was $1. 32 million, compared to $1. 47 million for buy orders. Buyside has overpowered sellside for the.