Helium Crypto rises as investors anticipate big announcements in September

What happened

As of 1:30 p.m. ET, Helium (HNT 6.19%) had risen 8.1% higher in the last 24 hours. Interestingly, this token surged with today’s intraday high, nearly 15% over a 24-hour period, as momentum in this little-known crypto has picked up.

Currently #53 in the cryptocurrency ranking by market capitalization, Helium is a decentralized blockchain project aimed at promoting integration between the Internet of Things (IoT) and the blockchain. It appears that upcoming announcements related to this project’s “HeliumHouse” event on September 20th in New York are driving speculative investor interest in this token.

At this event, Helium is expected to offer community demos and various updates on the project’s roadmap and growth prospects.

So what

Helium’s focus on integrating blockchain technology with the high-growth area of ​​IoT is compelling from a long-term perspective. There are many other competing projects in this area (Helium is far from the only project focusing on this utility-oriented end market). However, the potential for disruption in how people think about traditional communications infrastructure and the tracking and storage of data provides a relatively large potential market for investors to get excited about.

Helium’s upcoming event on September 20th in New York may indeed outline some exciting new uses and reveal exciting possibilities this project wants to tackle. But with little pre-release information about what will be announced, this catalyst appears to be more speculative than anything else.

What now

Helium’s significant outperformance today is noteworthy, as most tokens seem to be trading in a lower volatility fashion today. With little news driving this token beyond potential catalysts on the horizon, perhaps today’s move is suspect. After all, some of the momentum this token saw earlier this morning has dissipated from this afternoon’s session.

That said, Helium’s long-term outlook remains exciting for many, as evidenced by today’s price action. This is a symbol I have put on my watch list and will be watching for major updates in the coming weeks. Until then, investors may want to be wary of trading tokens that can move so wildly on relatively unimportant catalysts.