Tokens for Helium’s Decentralized Mobile Network Surge
The tokens for the decentralized mobile network, Helium, have experienced a significant surge in value. The protocol token MOBILE, which is mined by 5G-CBRS and Wi-Fi hotspots, has seen a 60% increase in value over the course of a day and an impressive 821% increase over the week. Currently, MOBILE is trading at $0.00632984 per CoinGecko data. Meanwhile, Helium’s native cryptocurrency HNT has increased by 2.4%, trading at $7.39, and its IOT token, which supports Helium’s Internet of Things subnetworks, has risen by 11% in the past 24 hours.
Helium Mobile’s No-Contract Smartphone Plan Drives Token Surge
The surge in Helium Network’s tokens can be attributed to the recent launch of Helium Mobile’s $20/month no-contract smartphone plan. This plan offers unlimited data, talk, and text across the decentralized Helium network with support from T-Mobile’s nationwide 5G network. According to Helium CEO Amir Haleem, this subscription bundle is nearly eight times cheaper than the average U.S. monthly cellphone bill. The network’s subscriber count has already reached 12,500.
Helium Network Benefits from Solana Saga Smartphone Interest
In addition to the smartphone plan, Helium Network is benefiting from the popularity of the Solana Saga smartphone, which includes a free 30-day subscription to Helium Mobile. The Saga smartphone has recently sold out in the U.S., as it comes bundled with an airdrop of the Solana-based meme coin BONK that is currently worth more than the hardware itself.
Solana and BONK Face Market Downturn
While Helium’s tokens have experienced a surge, Solana and BONK have faced a downturn due to the broader decline in the crypto market. As Bitcoin slipped below $41,000, Solana is currently trading at around $70, down 1.6% on the day, and BONK is down 2.9%.
Hot Take: Helium’s Token Surge Driven by Mobile Network Expansion
The recent surge in Helium Network’s tokens can be attributed to the expansion of its mobile network through the launch of Helium Mobile’s affordable smartphone plan and the popularity of the Solana Saga smartphone. By providing decentralized cellular phone service with support from T-Mobile’s 5G network, Helium Mobile offers a cost-effective alternative to traditional cellphone plans. The success of these initiatives has resulted in significant token value increases for MOBILE and other Helium tokens. However, it is important to note that the broader crypto market downturn has affected Solana and BONK prices.
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