Helium Crypto Soars as Investors Expect Big Announcements in September

What happened

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

Currently No. 53 in the cryptocurrency rankings by market capitalization, Helium is a decentralized blockchain project aimed at promoting integration between the Internet of Things (IoT) and the blockchain. It appears upcoming announcements tied to this project's HeliumHouse event on Sept. 20 in New York is driving speculative investor interest in this token.

At this event, it's expected Helium may provide community demos and various updates about 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 space (Helium is far from the only project to be 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.