- The Helium Network’s native cryptocurrency, HNT, has surged over 40% in the past week, driven by growing adoption of Helium Mobile.
- The Helium Network, built on Solana, boasts significant market movements as its HNT token outperformed most cryptos.
- With a price increase surpassing 40%, HNT has soared past $5, ranking as the second top-performing cryptocurrency among the largest 100 by market cap.
Discover why Helium Network’s HNT token is seeing significant gains as Helium Mobile adoption rises, positioning it among the top-performing cryptocurrencies.
Helium Mobile’s Influence on HNT’s Market Surge
The recent uptick in HNT’s value can be primarily attributed to the increasing adoption of Helium Mobile, the network’s wireless telephone service. Over the past seven days, HNT witnessed an impressive rise of over 40%, pushing its price above $5 and making it one of the top gainers in the market. The broader cryptocurrency market experienced an average growth of around 7% during this period, with HNT outperforming significantly, second only to the meme coin dogwifhat (WIF).
Understanding Helium Network’s Role in IoT
Helium Network operates as a decentralized blockchain network tailored for the Internet of Things (IoT). It facilitates communication and data sharing among devices through small hardware units known as hotspots. These hotspots provide network coverage and validate connections in exchange for HNT tokens. The goal of Helium Mobile is to diminish the dependency on Wi-Fi networks, offering a seamless, decentralized wireless service.
Surge in Helium Mobile Subscribers
Helium Mobile has notably exceeded the 100,000-subscriber mark earlier this month, signifying substantial growth from its initial figures. With a remarkable 300-fold increase in subscribers over the year, the service has garnered considerable traction. Moreover, Helium Mobile’s roadmap progress update released on July 12 announced a pilot program in collaboration with major US telecom companies for data transfer via Helium Network, further bolstering its credibility and adoption.
Industry Perspectives and Future Outlook
Tom Shaughnessy Jr., founder of Delphi Ventures, spotlighted Helium as a robust illustration of blockchain technology’s practical applications. He remarked, “5G services are providing more affordable options compared to traditional mobile plans by reselling home internet services. With 100,000 subscribers and climbing, Helium is showcasing blockchain’s potential in solving real-world issues.” Looking ahead, Helium Mobile’s continued expansion and synergy with major telecom firms are expected to catalyze further growth in the HNT token’s value.
Conclusion
The Helium Network, through the ascending popularity of Helium Mobile, has demonstrated notable market dynamics, with its HNT token seeing substantial gains. As the network continues to innovate and expand its services, leveraging blockchain to address practical challenges in wireless communication, the future appears promising for HNT and its stakeholders. Investors and crypto enthusiasts will likely keep a close watch on Helium’s ongoing developments and market performance.
