HNT reaching a price of $1,000 per coin is very unlikely to happen, but it’s not entirely out of the question. With a circulating supply of over 170 million tokens, HNT’s market cap would exceed $170 billion, placing it far above any other cryptocurrency apart from Bitcoin and Ethereum.
In this article, we’ll dive into why reaching $1,000 is unlikely for Helium, and we’ll explore our short-term price prediction algorithm to see what HNT’s growth could look like in the near future.
Key highlights:
Helium is an innovative blockchain network, connecting low-power IoT devices via Helium Hotspot, but that alone isn’t enough to push it’s price to $1,000
At $1,000 per coin, Helium would exceed a market cap of $170 billion, which would place it among the top 3 cryptocurrencies by market cap.
A price target of $1,000 is likely too ambitious, but HNT could experience a more moderate price increase in the future
Helium’s all-time high was reached in November 2021, when the coin hit $55.17. At its highest, the market capitalization of HNT was just under $5.4 billion. HNT boasts some unique advantages and features, but is that enough to push it all the way to $1000?
Let’s compare Helium with potential competitors to understand what a price tag of $1,000 would mean for HNT.
Will Helium reach $1,000?
Helium reaching $1,000 seems unlikely. Our Helium price prediction forecasts a 40% price increase from the current price until the end of 2025, ending the year at $8.70. However, its current price would have to increase by 16,181% to reach $1,000.
Helium is a decentralized Internet of Things (IoT) network using the LoRaWAN system that pays people to host their own Helium Hotspots. The IoT market has been steadily growing over the years, being widely adopted in the automotive industry. However, a price of $1,000 per token would mean that the network would command nearly 20% of the IoT market, which seems unlikely considering the competition it’s up against.
HNT Price Projected market cap* $100 $17 billion $200 $34 billion $500 $85 billion $1000 $170 billion
*Market cap calculations assume a supply of 170 million HNT
Giants like Microsoft, Intel, and Qualcomm all offer IoT technologies and solutions. Helium growing its market cap to $170 billion would mean offering a solution that’s unique to carve out its own niche or offering a product that outclasses existing competitors. The former seems much more likely, but its current plan hinges on widespread adoption to function properly, which means that the project would have a hard time taking off. However, Helium incentivizes users to host hotspots by providing them with HNT token rewards. This business model has taken off, with Helium commanding an impressive market cap of $1 billion as of writing.
The IoT market has been growing steadily and will likely continue to do so in the future (Source: Statista)
Even if we take into account that the IoT market is relatively new and rapidly growing, Helium would have to grow immensely to reach $1,000, and such a growth is unlikely, at least in the few coming years.
Even if Helium is unlikely to grow to $1,000 with its current circulating supply of tokens, the supply could reduce significantly with token burning. This would reduce the supply of HNT tokens in circulation and as such, the price of individual tokens could skyrocket.
In the following sections of this article, we’ll go over HNT’s realistically achievable price goals, its future prospects, and our HNT short-term price prediction for 2024 & 2025.
Can Helium beat its all-time high?
Even if $1,000 is a long stretch for HNT, it doesn’t seem unreasonable for the project to beat its all-time high of $55.17 in the future. The adoption of the Helium Network is growing at a steady pace and in a few years, it could become a major player in the IoT and mobile network markets. With wider adoption across multiple industries, Helium’s price could soar to new heights and solidify itself as a good investment in the following years.
Helium’s future prospects
Helium has a potentially bright future ahead, positioning itself for future growth in the Internet of Things (IoT) and decentralized wireless communication sectors. Their aim is to provide coverage for IoT devices, regardless of their geographical location, which is a service that’s sure to be in demand as more IoT devices flood the market.
Additionally, their migration to the Solana blockchain in 2023 vastly improves scalability, transaction speed, and network efficiency. This will support large-scale IoT applications and improve the network’s overall performance.
Recently, Helium has partnered with Telefonica to extend its mobile network into Mexico, providing cellular connection at low prices.
While it does seem like Helium is perfectly positioned for future growth, it should be noted that there is always a chance that the project won’t take off and that potential users will stick to the tried and true solutions provided by established companies. As it stands, while Helium's potential is evident, predicting its trajectory over the next few years remains a matter of speculation.
Helium price prediction for 2024 & 2025
Our price prediction algorithm sees Helium growing at a slow but steady rate throughout 2025, reaching a price of $12.72 before dropping down to $8.73 by the end of 2025. That would mark an increase of about 36% from the current price, which is not bad, but it’s a far cry from a $1,000. If you want to calculate Helium’s potential price growth yourself, you can use our Helium profit calculator.
The bottom line
As we’ve established, Helium is unlikely to reach $1,000. Surpassing its all-time high is possible, but the network would have to see increased adoption and functionality. As it stands, its slow and steady growth may not be enough to keep up with the rapidly developing needs of the IoT market that Helium is trying to cater to.
Want to find the next big cryptocurrency? It may very well be covered in our article on the next cryptocurrencies to explode in value.