Key Takeaway:
- Helium’s HNT token has outpaced the altcoin market, experiencing significant gains.
- Helium’s mobile subscriber base has seen substantial growth, surpassing 100,000 users.
- HNT’s price rally is fueled by increased trader engagement and open interest.
- Cat-themed meme coin Simon’s Cat has also seen double-digit gains, attracting positive sentiment and gaining traction in the market.
Helium Surges in Price
Helium’s HNT token has shown impressive growth, increasing by 27.6% in the last week alone. This surge has positioned HNT as the top gainer among the largest cryptocurrencies by market value. The token’s bullish momentum is supported by the growth in its mobile subscriber base, which has surpassed 100,000 users.
Trader Engagement and Price Momentum
Despite Binance delisting HNT futures, Helium’s trading volume has been on the rise, averaging over $25 million daily. The token’s price rally is driven by a 254% increase in total open interest, indicating growing trader engagement. This surge in open interest has propelled the futures market to $10.87 million, the highest level since December 2022.
Simon’s Cat Sees Positive Growth
Simon’s Cat, a cat-themed meme token, has seen a surge of 18.47% in the last week. Despite a temporary price dip after an airdrop to the Floki community, the token has garnered support from major exchanges like Binance. Market analysts are optimistic about Simon’s Cat’s potential for growth, highlighting its undervaluation and resilience in tough market conditions.
