HNT Token Surges 40% as Helium Reaches 100K Mobile Subscribers, Outperforming Bitcoin
Helium Network’s HNT token has experienced a remarkable surge in the market, outperforming major cryptocurrencies like Bitcoin. The rally comes in the wake of increased adoption of Helium Mobile, a wireless phone service utilizing blockchain technology.
Over the past seven days, HNT’s price skyrocketed by over 40%, reaching $5 per token. This surge positioned it as the second-best performer among the top 100 coins by market capitalization, trailing only the meme coin dogwifhat (WIF). In comparison, Bitcoin saw a 7% increase, along with the CoinDesk 20 (CD20) Index, a comprehensive market indicator.
Helium Network operates as a decentralized blockchain network specifically designed for the Internet of Things (IoT). Its network enables IoT devices to communicate and share data through hotspots, which act as wireless gateways. Hotspot owners are incentivized with HNT tokens for providing network coverage and verifying connectivity.
The Helium Mobile service leverages the Helium network by connecting to these hotspots, facilitating data sharing, communication, and tracking without reliance on traditional centralized cellular or Wi-Fi networks.
The number of Helium Mobile subscribers, entities utilizing mobile devices or sensors communicating over the Helium Network, surpassed 100,000 earlier this month, marking a significant increase of over 300% in just one year, according to Helium Mobile data.
In a recent roadmap progress report released on July 12, Helium Mobile unveiled plans for a pilot program with major U.S. telecommunications companies to transfer data to the Helium Network. Additionally, a licensing program was announced to enhance compatibility with third-party hardware manufacturers and OpenRoaming compatibility to expand data transfer options for hotspot owners. This initiative aims to broaden connectivity for Helium users and subscribers of any service provider supporting OpenRoaming.
Delphi Ventures founder Tom Shaughnessy Jr commended Helium as a prime example of blockchain technology addressing real-world challenges. He highlighted the cost-effectiveness of Helium’s 5G service, offering better consumer pricing compared to traditional carrier mobile plans, especially for reselling home internet services.
In conclusion, Helium Network’s HNT token’s impressive performance and the rapid growth of Helium Mobile subscribers underscore the increasing relevance of blockchain technology in addressing practical communication needs.
