Online Helium Price Soars as Bitcoin and Ethereum Hover at Key Levels

Helium Price Soars as Bitcoin and Ethereum Hover at Key Levels

• Bitcoin price touched $31k on Coinbase while Ethereum hovered near $1.9k.
• US consumer prices rose 0.2% month-over-month and 3% year-over-year in June.
• The top 10 coins were also green at the time of writing, with the biggest gainers being 1inch, Nem and Helium.

US Inflation Data Gives Boost to Cryptocurrency Markets

The latest US inflation data gave a boost to cryptocurrency markets as bitcoin touched $31K on Coinbase and Ethereum hovered near $1.9K. Consumer prices rose 0.2% month-over-month and 3% year-over-year in June, which was welcomed by stock markets around the world. Litecoin had dropped 10% over the past week but had since recovered some of those losses by midday Wednesday.

Biggest Gainers Among Top 200 By Market Cap

Among the top 200 cryptocurrencies by market cap, three saw double digit gains: 1inch, NEM and Helium (HNT). All three traded to highs of their respective all time highs with HNT touching $1.48 per coin.

US CPI At Slowest Pace Since March 2021

According to data released by the US Bureau of Labor Statistics, CPI was at its slowest in June since March 2021 with fuel oil, gasoline, gas utilities, used cars, medical care apparel new cars food at home electricity and transportation all seeing lower rates of inflation than a year ago while shelter is still the only major component that has a higher inflation rate than before.

Bitcoin & Altcoins React Positively To CPI Data Release

US stocks opened higher on Wednesday due to reaction to the latest US inflation data release while Bitcoin moved slightly higher as well after hovering around a crucial level for some time now intraday highs having been reached earlier at $31K on Coinbase . Overall crypto market capitalization also rose 1.5% to above $1 trillion 24 hours after the news was released reflecting investor optimism towards crypto assets generally as an asset class with Ethereum trading towards $1900 throughout that same period .


In summary this article discussed how cryptocurrency markets reacted positively to US inflation data showing prices rising 0.2% month over month and 3% year over year in June with Bitcoin reaching intraday highs of 31k on Coinbase , Ethereum hovering near 1900 , Litecoin recovering from a 10 % drop in a week’s time , 1inch , NEM & Helium seeing double digit gains and overall crypto market capitalization rising 1 . 5 % above one trillion dollars .