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Sunday, May 29, 2022

HNT Has Gained Almost 40% After Massive Fundraise

HNT is a decentralized peer-to-peer 5G network that previously made headlines on the 10th of August due to a fundraiser. The fundraiser in question managed to raise around $111 million from quite a few investors- which included Andreessen Horowitz.

This decentralized network is also a part of more than 11,000 listed cryptocurrency projects, which offer a more revolutionary usage of the technology at hand which would improve the movement of society through the integration of blockchain technology. 

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According to data provided by TradingView as well as Cointelegraph Markets Pro, there has been a spike in the prices of HNT, a reduction of 30% from a low of $14.03 to a high of around $18.14 which immediately followed the announcement meted out during the fundraising.

There are quite a few reasons behind the increasing strength of this decentralized network which also includes an ecosystem that is continually expanding- providing coverage for the same network.

The “People’s Network”- HNT-  Hits 100,000 Nodes 

One of the major factors that have boosted the very legitimacy of the HNT network is the expanding nodes of the network that went on to surpass 100,000 in July. There has been a far more increasing demand for hotspots which has resulted in almost 50 hotspot manufacturer applications put through the Helium Improvement Proposal 19 process while the signals for such hotspots have been rising for the near future. 

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Another reason behind the move of HNT is the expanding list of its partners- which, coincidentally, use the low-cost network. Invoxia has been one of the latest companies to partake in this decentralized network for the data management that it needs. 

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