A popular crypto analyst is still bullish on Helium’s (HNT) long-term prospects despite the project’s recent steep correction.
In a new YouTube video, the anonymous host of InvestAnswers tells his 443,000 subscribers that Helium, a decentralized wireless network for the Internet of Things (IoT), is a “picture-perfect use case for blockchain.”
The project’s native token, HNT, has tumbled by nearly 40% in the past week following the announcement that the core developers of Helium are considering migrating the network to high-performance blockchain Solana (SOL). HNT is trading at $3.82 at time of writing.
The InvestAnswers host notes that the market sometimes values layer-one projects more than Web3 apps. He also says he believes the migration could benefit both Helium and Solana.
“Helium is designed around proof-of-coverage, and POC – not proof-of-concept, proof-of-coverage – tries to verify on an ongoing basis that hotspots are honestly representing their location and the wireless...
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