Earlier this month, Helium Mobile announced that it has surpassed 100K subscribers, a milestone that reflects in the significant growth of its HNT token.
HNT, the native token of Helium Network, has recorded an impressive surge of over 48% in seven days. This surge was driven by a recent milestone achieved by Helium Mobile, an innovative wireless phone service powered by the decentralized blockchain.
The smartphone service reached 100,000 subscribers for the first time since its launch in December 2023. This milestone propelled HNT to new heights, positioning the token as one of the top-performing digital assets in the past week, even surpassing Bitcoin (BTC) and Ethereum (ETH).
Market Performance
According to data from CoinStats, HNT’s market value reached $5.21 on Monday morning, with nearly a 10% increase in the past 24 hours and a 48.2% increase over the week.
The token’s market capitalization also saw a 9.8% increase over the past day, reaching $846 million.
Despite being the leading crypto asset in the industry, Bitcoin saw a modest performance of 8.2% in the last seven days and only a 1.11% increase in a single day. Ethereum had a similar performance to BTC, with approximately a 5% gain over the same period.
HNT’s attractiveness lies in its underlying blockchain technology. The decentralized protocol is designed specifically for the Internet of Things (IoT). Unlike traditional networks, Helium operates through a decentralized system of small devices known as hotspots.
These hotspots serve as network nodes, enabling devices to communicate and share data while rewarding hotspot owners with HNT tokens for their contribution to network coverage and connectivity verification.
100k Milestone Achievement
Last year, the protocol expanded its offering by introducing its mobile business into the market. Currently, the Helium Mobile service contributes up to 90% of the network’s total revenue.
The mobile arm of the blockchain provides a wireless service that does not rely on conventional cellular or Wi-Fi networks. Instead, it connects through Helium’s hotspots, allowing for seamless data sharing and communication.
Earlier this month, Helium Mobile announced that it has surpassed 100,000 subscribers, a milestone that reflects its significant growth.
This figure represents a staggering 300-fold increase in user adoption within seven months of launch.
Recent Developments
On July 12, Helium Mobile released a comprehensive progress report detailing several key initiatives.
Among these is a pilot program in collaboration with major US telecommunications companies. This initiative aims to transfer data to the Helium Network, further enhancing its capabilities and broadening its user base.
The report also introduced a licensing program designed to increase compatibility with third-party hardware manufacturers. This move is anticipated to broaden the range of devices that can connect to the Helium Network, further extending its reach.
Additionally, the integration of OpenRoaming compatibility will allow subscribers of any service provider that supports OpenRoaming to connect to Helium’s network, providing more flexible and diverse data transfer options.
