Helium (HNT) has seen a significant decline, dropping 12.91% over the past week to $1.85. The cryptocurrency's market capitalization has fallen below $340 million, and trading volume has decreased, indicating continued selling pressure. The price remains below key moving averages, reflecting a bearish trend.
In response to these challenges, the Helium Foundation announced a strategic shift on October 18. The foundation plans to buy back HNT from the open market using a dollar-cost averaging (DCA) strategy, replacing the previous method of burning Helium Mobile revenue. Additionally, the team intends to launch a Digital Asset Treasury to acquire HNT and generate yield, aiming to stabilize and potentially boost the token's value.
Helium (HNT) Falls 12.91% Weekly Amid Market Weakness
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