Helium

In October, Solana's real economic value (REV) reached an impressive 111% of Ethereum's, driven by significant growth in decentralized finance (DeFi) and innovative projects such as Hivemapper and Helium. The price of Solana (SOL) surged by 36% recently, hitting $213, but it now faces a crucial challenge at the $221 resistance level. Despite strong network activity and a notable increase in staking, concerns linger about the sustainability of this momentum. The decentralized exchange (DEX) volumes have also seen a remarkable rise, with daily trading exceeding $5 billion for three consecutive days last week, totaling $16 billion from November 10 to 15, primarily driven by Raydium and Orca. Staking activity has emerged as a key factor in bolstering investor confidence, with over $8 billion worth of SOL staked, which helps alleviate selling pressure and enhances price stability. This represents one of Solana's strongest metrics during its current rally. Technical indicators support a positive outlook, as the average directional index (ADX) for SOL stands at 32, indicating a strong trend. However, the inability to breach the $221 barrier could result in a price range between $201 and $221 in the short term, with potential pullbacks signaling a reversal of the bullish trend. Solana's DeFi ecosystem continues to thrive, with meme coin trading contributing to a daily volume of $1 billion, showcasing its growing appeal among retail traders. The network's impact extends beyond DeFi, with projects like Hivemapper mapping a significant portion of global roads and Helium expanding its device network. With robust staking, increasing transaction volumes, and strong technical indicators, Solana is poised for further growth. However, breaking the $221 resistance is critical for unlocking greater potential, with medium-term targets projected between $400 and $500, supported by a bullish cup-and-handle formation on its chart.

**The Impact of Upbit Listing Success Rate and UDC Conference Overview** Recently, with the market gaining strength, the wealth effect of new listings on Upbit has become more prominent. Tokens like AGLD saw a staggering 150% increase on the first day, while DRIFT surged by 190%. Tokens like SAFE, CARV, and PEPE also experienced a 100% increase. The Formula team made a fortune through news trading, showcasing the potential for wealth creation on Upbit. How can we seize the wealth wave of new listings on Upbit? The UDC conference serves as a barometer for Upbit listings. The listing success rate from 2018 to 2023 stands at 76%. On November 14th, the UDC conference was held as scheduled, offering a glimpse into the participating projects. UDC, organized by Dunamu since 2018, is a representative blockchain conference in South Korea aimed at promoting industry development, ecosystem growth, and adoption. This year's theme, 'Blockchain: Driving Real-World Change,' delves into how blockchain is expanding into various industries and bringing about real-world transformations. According to Layerggofficial data, from 2018 to 2023, approximately 66 projects participated in UDC, with 37 projects already listed on KRW Fair before UDC. Among the remaining 29 projects, 13 were listed in KRW form after UDC (44.8%). The significance of the UDC conference and the wealth effect on Upbit stem from various factors. UDC's Importance and Upbit's Wealth Effect Upbit, as South Korea's largest exchange, holds a leading position in the Korean market in terms of trading volume and user numbers, commanding around 73% of the market share. Korean investors can directly purchase cryptocurrencies using the Korean Won (KRW), leading to significant wealth effects. The convenience of deposits and substantial wealth effects have propelled cryptocurrency trading volume in Korea beyond the country's stock market. This dynamic ensures strong buying interest for new tokens listed on Upbit. The UDC conference, organized by Dunamo, Upbit's parent company, though slightly smaller in terms of timing and participation compared to events like KBW, holds undeniable importance. Projects like ZRO, MNT, and STG, which participated in last year's conference, were listed on Upbit this year, indicating the enduring influence of the conference. Data source: [Layerggofficial](https://x.com/layerggofficial/status/1714145904943587774?s=46) UDC 2024 Conference Projects The UDC conference for this year has already taken place, with projects like Axelar, Taiko, Zetachain, Mantle, and Cyber already listed on Upbit. As of the conference, there are still 11 projects yet to be listed on Upbit or to have KRW trading pairs. Projects awaiting listing include SLP, HNT, GALA, NFT, and ROSE. Projects already listed with BTC pairs but without KRW pairs include MKR, YGG, IOTX, and Cyber. Projects that have not launched tokens but participated in UDC include Linea and Magic Eden. Compliance and AI remain strong narratives in line with this year's UDC theme. Despite Oasis Network not participating in this year's UDC, leveraging AI narratives, ROSE saw a surge on November 5th. Additionally, South Korea's high interest in NFTs and the gaming market suggests that Magic Eden's token has a high probability of being listed on Upbit. Apart from the forward-looking impact of the UDC conference, another South Korean exchange, Bithumb, also has relevance to Upbit listings. Both exchanges tend to list coins in clusters based on narratives, such as introducing AI tokens simultaneously at the beginning of the year or focusing on Memecoins currently. To protect investors, Korean exchanges typically avoid small, new coins with short market history, opting for older coins with stable market capitalization and prices.

Helium mining is a pioneering mechanism that underpins the Helium network, designed to provide global wireless connectivity for Internet-of-Things (IoT) devices. By running a hotspot, miners contribute to a decentralized infrastructure known as "The People’s Network," which facilitates low-powered, long-range wireless communication. This innovative use of blockchain technology rewards participants with Helium (HNT) tokens, effectively reducing reliance on traditional telecom providers and lowering IoT connectivity costs. The Helium network, which began development in 2013 and rebranded to Nova Labs in 2022, showcases the versatility of blockchain technology, expanding its applications beyond financial transactions into real-world infrastructure. The mining process utilizes a proof-of-coverage (PoC) consensus mechanism, which ensures that hotspots are providing legitimate wireless coverage while rewarding them with HNT tokens. Miners operate specialized hardware that functions as both a wireless gateway and a blockchain node, validating transactions and extending network coverage. This decentralized approach contrasts sharply with traditional cellular networks, which rely on large, intrusive cell towers. Helium hotspots, powered by the Low Power Wide Area Networking Protocol (LoRaWAN), enable a wide range of applications, from smart agriculture to asset tracking, highlighting the potential of decentralized physical infrastructure networks (DePINs). The profitability of Helium mining can vary significantly based on location, competition, and the number of connected IoT devices. While urban areas may face saturation, rural locations often present profitable opportunities due to lower competition. The transition to 5G technology introduces new earning potentials but requires specialized equipment. As demand for IoT connectivity grows, so too does the potential for increased miner rewards. Despite the inherent volatility of cryptocurrency markets, the steady growth in network usage and market capitalization suggests a promising outlook for Helium mining profitability in the coming years.

As the cryptocurrency market shows signs of recovery, Helium's HNT token is experiencing a significant bullish resurgence. The price has made a swift V-shaped reversal, recently crossing above the $6.50 mark. This upward movement has resulted in a weekly surge of approximately 20%, positioning Helium for a potential breakout rally that could lead to a new 52-week high. Market analysts are now questioning whether this uptrend will push HNT above the psychological $10 threshold, which would mark a significant milestone for the token. In analyzing HNT's price action, the daily chart reveals a bullish comeback from the 50% Fibonacci level, coinciding with the 200-day Simple Moving Average (SMA). This reversal is characterized by a bounce from the $5.52 support level, which has allowed the price to exceed the 61.80% Fibonacci level at $6.365. Currently, HNT is trading at $6.66, reflecting an intraday increase of 7.36%. The formation of four out of five bullish candles indicates a strong recovery, although the price has yet to break the lower-high formation trend. A successful jump above the $7.78 mark, or the 78.60% Fibonacci level, could signal a significant shift in the price trend, enhancing the likelihood of reaching a new 52-week high. Looking ahead, the technical indicators suggest a bullish outlook for Helium. The consolidation between the 50-day and 200-day SMA lines indicates that a breakout above the upper resistance could amplify the trend momentum. Additionally, the MACD is nearing a bullish crossover due to increased buying pressure. If the bullish trend persists, price targets based on Fibonacci retracement levels are set at $10.05, with further potential highs of $13.91 and $21. Conversely, critical support levels are identified at $6.36 and the psychological $6 mark, which will be essential for maintaining upward momentum in the coming months.

In a significant shift within the decentralized wireless network market, Helium and Xnet are now prioritizing Wi-Fi connections over the previously favored 3.5GHz CBRS spectrum band. This change is largely driven by the challenges associated with CBRS, including interference and poor user experience. Mario Di Dio, general manager of Nova Labs' Helium network, emphasized that Wi-Fi, particularly with Passpoint technology, offers a more mature and easier deployment option. This technology, which streamlines Wi-Fi connectivity, has gained widespread support across various devices, making it a more attractive alternative for decentralized network operators. Both Helium and Xnet have transitioned from encouraging the deployment of costly CBRS radios to promoting the installation of Wi-Fi hotspots, which are significantly less expensive. While the coverage area of Wi-Fi hotspots is generally smaller compared to CBRS sites, this strategy has led to major offloading agreements with prominent wireless network operators. Helium has secured deals with two of the three major 5G operators in the U.S., while Xnet claims to have an agreement with AT&T. These partnerships allow both companies to offload network traffic onto their respective sites, rewarding hotspot operators with cryptocurrency tokens based on the amount of data offloaded. The evolution from decentralized wireless (DeWi) to decentralized physical infrastructure networks (DePIN) reflects a broader trend where companies are leveraging decentralized models across various sectors, including energy and mapping. Helium, a pioneer in this space, has expanded its offerings to include a mobile virtual network operator (MVNO) service, attracting around 100,000 customers. As the debate over the utilization of the CBRS spectrum continues, the shift towards Wi-Fi may reshape the landscape of decentralized networks, highlighting the growing importance of flexible and accessible wireless solutions in the telecommunications industry.

Passive income is increasingly becoming a focal point for individuals looking to enhance their financial stability. One promising avenue is Decentralized Physical Infrastructure Networks (DePIN), which allows users to earn rewards through decentralized systems without significant initial investment. The primary objective of DePIN is to create a decentralized infrastructure that utilizes blockchain technology to support hardware services. This innovative approach not only facilitates income generation but also incentivizes participation through token rewards, making it an attractive option for those with limited capital. Among the various DePIN projects, @helium_mobile stands out as a rapidly expanding wireless network that rewards users for sharing their geolocation data with $MOBILE tokens. Users can potentially earn around $700 monthly by purchasing and installing a Helium HotSpot device. Similarly, @dawninternet offers a decentralized wireless network where users can earn approximately $150 per month by downloading an extension and creating an account. Another noteworthy project, @NodleNetwork, utilizes smartphones to provide services, allowing users to earn about $200 monthly by simply downloading an app and enabling Bluetooth. Additionally, @Hivemapper presents an opportunity to earn around $800 monthly through a decentralized mapping network by installing a camera in your vehicle. Other projects like @HivelloOfficial and @Gradient_HQ also offer substantial earning potential, with users able to earn $200 monthly by providing computer resources or participating in decentralized cloud computing. Overall, DePIN represents a promising sector for passive income, combining safety and minimal time investment, making it an appealing choice for aspiring earners in the blockchain space.