In a week marked by a downturn in the cryptocurrency market, two standout altcoins managed to buck the trend and achieve significant gains, fueled by fresh developments in their fundamentals.

The decentralized Internet of Things (IoT) network, Helium (HNT), revealed on Friday that “two major US carriers” have initiated tests to route their traffic through the Helium MOBILE Network. This network is a decentralized wireless service built on Solana (SOL) and is a crucial component of the Helium ecosystem. Its goal is to facilitate communication and data sharing among IoT devices connected to the network through the use of smart contracts and enterprise applications.

As of this writing, HNT, the native token of Helium, is trading at $6.67. This 66th-ranked cryptocurrency by market capitalization has surged over 18% in the last 24 hours and nearly 48% in the past week.

In a parallel development, the smart contract platform Sui (SUI) also experienced a notable uptick. This came after Grayscale, a prominent player in the crypto industry, announced the launch of a trust tailored specifically for SUI’s native asset earlier this week.

Currently, SUI is trading at $0.86. As the 35th-ranked cryptocurrency by market cap, it has appreciated by 2.55% in the last 24 hours and nearly 55% over the past week.

In contrast, the broader cryptocurrency market cap has seen a decline of 1.18% in the last 24 hours and over 13% in the past two weeks, as per data from CoinGecko.

Don’t Miss a Beat –
Subscribe to receive timely email alerts straight to your inbox.
Check Price Action
Follow us on X, Facebook, and Telegram
Surf The Daily Hodl Mix

Disclaimer: The views expressed in The Daily Hodl are not to be considered investment advice. Investors are encouraged to conduct thorough research before making any high-risk investments in Bitcoin, cryptocurrency, or digital assets. Please be aware that your transactions and trades are conducted at your own risk, and any losses incurred are your responsibility. The Daily Hodl does not endorse the buying or selling of any cryptocurrencies or digital assets, nor does it serve as an investment advisor. Additionally, note that The Daily Hodl engages in affiliate marketing.
Generated Image: Midjourney