HeliumMobile

📊 Is Helium price at risk as Coinbase suspends trading for Helium Mobile?

$HNT dropped over 5% as selling pressure spread across the Helium ecosystem following Coinbase’s delisting of the deprecated Helium Mobile token.

Helium Mobile (MOBILE) price dropped to an intraday low of $0.00026 on June 27 before recovering slightly to $0.00027 as of press time. It remains around 87% lower than its last December high of $0.0021.

The token’s price drop today came shortly after crypto exchange Coinbase announced that it had delisted Helium Mobile (MOBILE) alongside other tokens, including Render (RNDR), Ribbon Finance (RBN), and Synapse (SYN), on June 26. The reason cited was that new versions of these tokens have been released, with the older tokens no longer meeting listing standards of the exchange.

For the uninitiated, Helium Mobile’s old Solana-based MOBILE token was officially deprecated in January this year following the implementation of HIP 13, a proposal to simplify the Helium ecosystem by consolidating MOBILE and IOT tokens back into a unified HNT token.

While most major exchanges auto-converted MOBILE to HNT earlier this year, Coinbase had delayed the transition, leading to confusion among users after the recent delisting announcement.

Helium’s native token, HNT, and its subnetwork token, IOT, also fell in today’s downturn, each dropping over 5%.

🔸 HNT price analysis

While the confusion surrounding the Coinbase delisting will likely be cleared soon, a look at derivatives data still suggests demand for HNT was fading.

Open interest in Helium Mobile’s futures market has dipped by 16% over the past 24 hours, which could translate into some short-term volatility as the long-short ratio suggested traders were leaning bearish.

Investors also seem to be increasing their transfers of HNT tokens to centralized exchanges, a trend that typically signals growing sell-side pressure and a potential uptick in short-term liquidations.

#HNT #HeliumMobile

Helium HNT should be buy if HNT is going down safely around ~$6.0 to $7.5. Then in Q1 2025 it will be increase around $12 to $20.
HNT chart today.
#HNT/USDT #HeliumMobile #heliumiot #heliumhnt

Helium Network Faces SEC Lawsuit: Deceptive Claims and Potential Fallout
The US Securities and Exchange Commission (SEC) has filed a lawsuit against Nova Labs, the developers behind the Helium Network, accusing them of deceptive practices. The SEC claims Nova Labs misled customers about partnerships with major corporations like Salesforce, Lime, and Nestlé.
The SEC's complaint, filed on January 17, centers around Nova Labs' "Hotspot" devices, which have been sold since 2019. These devices mine the Helium cryptocurrency and offer rewards for users sharing personal data. The SEC alleges that Nova Labs falsely claimed major companies were using its network, which led to misleading investors.
The regulatory body seeks permanent restrictions on Nova Labs, return of illicit gains, and financial penalties, although it has not disclosed specifics on the fines or losses. Despite the lawsuit, the price of Helium’s $HNT token has risen 10%, reaching $5.39.
This action is part of SEC Chair Gary Gensler's aggressive crypto enforcement, which is nearing its end as he steps down on January 20. The shift in leadership could lead to a change in regulatory approach, with President-elect Donald Trump poised to promote pro-crypto policies, including a Bitcoin National Reserve to encourage adoption.
$BTC $ETH $SOL
Material prepared by the exchange: coytx.com
Warning: Trading cryptocurrencies involves a high level of risk. Please consider your risk tolerance and only invest funds you can afford to lose.
#HeliumMobile #SEC. #HNT #cryptoenforcement #solana