Two of the top 100 altcoins defied the downtrend in the crypto market and saw big gains this week on the back of new fundamental developments.
Decentralized Internet of Things (IoT) network Helium (HNT) announced Friday that “two major U.S. carriers” have launched tests to offload their traffic to the Helium MOBILE network.
MOBILE is a decentralized mobile operator based on Solana (SOL) that is part of the Helium ecosystem and aims to enable communication and data exchange between IoT devices connected to the network by supporting smart contracts and enterprise applications.
HNT, Helium’s native token, is trading at $6.67 at the time of writing. The crypto asset, ranked 66th by market cap, is up more than 18% in the past 24 hours and nearly 48% in the past seven days.
Meanwhile, smart contract platform Sui (SUI) saw gains after crypto giant Grayscale announced earlier this week the launch of a trust specifically designed for the project’s native assets.
SUI is trading at $0.86 at the time of writing. The 35th crypto asset by market cap is up 2.55% in the past 24 hours and nearly 55% in the past seven days.
In comparison, the total cryptocurrency market capitalization has fallen by 1.18% in the last 24 hours and by more than 13% in the last two weeks, according to CoinGecko.
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