Two prominent altcoins bucked the downward trend in the crypto market this week, achieving significant gains due to recent key developments.
The decentralized IoT network Helium (HNT) revealed on Friday that “two major US carriers” have begun testing the transfer of their traffic onto the Helium MOBILE Network. MOBILE, a decentralized wireless service built on Solana (SOL), is designed to support IoT devices through smart contracts and enterprise applications within the Helium ecosystem. At the time of writing, HNT is valued at $6.67, with the 66th-ranked crypto asset experiencing a rise of over 18% in the past 24 hours and nearly 48% over the past week.
Similarly, the smart contract platform Sui (SUI) saw gains after Grayscale announced the launch of a trust dedicated to SUI’s native asset earlier this week. SUI is currently trading at $0.86, with the 35th-ranked crypto asset up 2.55% in the last 24 hours and nearly 55% in the past seven days.
In contrast, the overall cryptocurrency market cap has decreased by 1.18% in the past 24 hours and over 13% in the past two weeks, according to CoinGecko.
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