The post Helium Shifts from HNT Burns to Daily Buybacks appeared on BitcoinEthereumNews.com. Key Points: Helium Foundation initiates daily HNT buybacks replacing treasury burns. Helium aims to increase HNT token value. Helium’s approach draws institutional interest. Helium’s latest announcement on October 21st marks a shift to daily market buybacks of HNT through an automated Dollar-Cost Averaging (DCA) system, enhancing its market strategy. This move aims to boost HNT’s value and attract institutional investors, with a 3% price increase observed following the announcement, highlighting its potential market impact. Helium’s Strategic Shift to Boost Token Scarcity The Helium Foundation uses automated DCA to initiate a daily market buyback of HNT, halting the previous token-burning process. This strategy connects buybacks with Helium’s daily network revenue and boosts HNT’s scarcity. As the Helium Foundation’s Executive Body states, “Helium Network has announced a strategic transition from internal treasury burns to open-market buybacks, resulting in a 3% increase in the price of HNT. The team plans to use dollar-cost averaging (DCA) for these buybacks, aiming to enhance HNT’s market traction and appeal to institutional investors.” Replacing token burns with market buybacks signifies a strategic shift, aiming to elevate HNT scarcity alongside traditional financing methods. By setting up a Digital Asset Treasury (DAT), Helium envisions enhanced revenue generation from their token assets. Market reactions have been positive, with HNT prices rising by 3% to $2.06 post-announcement. However, the broader market impact remains subdued, with prominent crypto figures and regulatory bodies yet to publicly comment. Helium’s Market Position and Industry Forecast Did you know? This buyback strategy, reminiscent of corporate share buybacks, contrasts traditional token burns, promoting scarcity without altering supply caps. CoinMarketCap reports Helium’s current price at $1.86, with a market cap of $346 million, and a 24-hour trading volume of $8.67 million. HNT’s price has fallen by 4.41% in the last 24 hours and 50.53% over 90 days as… The post Helium Shifts from HNT Burns to Daily Buybacks appeared on BitcoinEthereumNews.com. Key Points: Helium Foundation initiates daily HNT buybacks replacing treasury burns. Helium aims to increase HNT token value. Helium’s approach draws institutional interest. Helium’s latest announcement on October 21st marks a shift to daily market buybacks of HNT through an automated Dollar-Cost Averaging (DCA) system, enhancing its market strategy. This move aims to boost HNT’s value and attract institutional investors, with a 3% price increase observed following the announcement, highlighting its potential market impact. Helium’s Strategic Shift to Boost Token Scarcity The Helium Foundation uses automated DCA to initiate a daily market buyback of HNT, halting the previous token-burning process. This strategy connects buybacks with Helium’s daily network revenue and boosts HNT’s scarcity. As the Helium Foundation’s Executive Body states, “Helium Network has announced a strategic transition from internal treasury burns to open-market buybacks, resulting in a 3% increase in the price of HNT. The team plans to use dollar-cost averaging (DCA) for these buybacks, aiming to enhance HNT’s market traction and appeal to institutional investors.” Replacing token burns with market buybacks signifies a strategic shift, aiming to elevate HNT scarcity alongside traditional financing methods. By setting up a Digital Asset Treasury (DAT), Helium envisions enhanced revenue generation from their token assets. Market reactions have been positive, with HNT prices rising by 3% to $2.06 post-announcement. However, the broader market impact remains subdued, with prominent crypto figures and regulatory bodies yet to publicly comment. Helium’s Market Position and Industry Forecast Did you know? This buyback strategy, reminiscent of corporate share buybacks, contrasts traditional token burns, promoting scarcity without altering supply caps. CoinMarketCap reports Helium’s current price at $1.86, with a market cap of $346 million, and a 24-hour trading volume of $8.67 million. HNT’s price has fallen by 4.41% in the last 24 hours and 50.53% over 90 days as…

        Highlights:  The BNB price is down 2% to $1111.46, despite the trading volume spiking 26%. The BNB on-chain demand has slipped, with the open interest plummeting 3% showing a drop in demand.  The technical outlook shows a tight tug-of-war, with the bulls attempting to overcome resistance zones.   The BNB price is down 2% today, to trade at $1111.46. Despite the plunge, the daily trading volume has soared 26% showing increased market activity among traders. However, BNB Chain has seen declining network activity, with the open interest plummeting, signaling a drop in demand.  On Chain Demand on BNB Cools Off The BNB Chain is in a state of cooldown of network activity, which indicates low on-chain demand. In most instances, when a network fails to ensure large volumes or revenues, it means that there is low demand or outflows to other networks.  BNB DeFi Data: DeFiLlama According to DeFiLlama data, the volume of the Decentralized Exchanges (DEXs) is down to at least $2.12 billion in comparison to the high of $6.313 billion on October 8, which also means low on-chain liquidity.  On the other hand, Coinglass data shows that the volume of BNB has grown by 3.97% to reach $4.95 billion. However, the open interest in BNB futures has dropped by 3.36% to reach $1.74 billion. This reduction in open interest is an indication of a conservative stance by investors since the number of new positions being opened is low. This could be an indication that investors are not so sure about the short-term price outlook. BNB Derivatives Data: CoinGlass Meanwhile, the long-to-short ratio is sitting at 0.9091. This shows that the traders are undecided on BNB price’s next move, as it sits below 1.  BNB Price Moves Into Consolidation The chart displays the BNB/USD price action on a 4-hour timeframe, with the token currently hovering around $1111.46. The 50-day Simple Moving Average (SMA) is at $1113, while the 200-day SMA sits at $1129, cushioning the bulls against upside movement. The price has mostly been trending below both SMAs, indicating that the bears are having the upper hand.  The BNB trading volume is up, soaring 26%, signaling the momentum is real. On the 4-hour chart, BNB is trading within a consolidation channel. In such a case, this pattern may act as an accumulation period, giving the bulls hind wings to break above resistance zones.  BNB/USD 4-hour chart: TradingView Zooming in, the Relative Strength Index (RSI) sits at 44.15, below the 50 level. This shows weakening momentum in the BNB market, and might lead to the RSI plunging to the oversold region if the bulls don’t regain control. In the short term, the BNB price could move up to $1113 resistance and flip it into support. A close above this zone will see the bulls target $1126 resistance, giving the bulls strength to reclaim the $1230 mark.  Conversely, if the resistance zones prove too strong, a dip towards $1012 could be plausible. In such a case, this could be a prime buy zone for the risk-takers. In the long term, if the token keeps the hype alive, the bulls may reclaim the $1375 high or higher.    eToro Platform    Best Crypto Exchange   Over 90 top cryptos to trade Regulated by top-tier entities User-friendly trading app 30+ million users    9.9   Visit eToro eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong.