HNT Token Beats Bitcoin With 40% Surge as Helium’s Mobile Subscriber Count Tops 100K

As a seasoned researcher with a background in blockchain technology and the telecommunications industry, I have closely followed the developments of Helium Network (HNT) with great interest. Over the past seven days, I have been particularly intrigued by the impressive market performance of HNT, which has surged over 40% to reach $5, placing it as the second-biggest gainer among the top 100 coins by market value.

The rally of Helium Network’s HNT token has surpassed the market average, fueled by the increasing use of Helium Mobile, the wireless phone service offered by Helium Network.

The Helium Network is a decentralized blockchain system designed specifically for the Internet of Things (IoT). It facilitates communication and data sharing among devices using small devices called hotspots. These hotspots act as wireless gateways, rewarding their owners with HNT tokens for extending network coverage and validating connectivity.

Helium Mobile operates through the Helium network by linking up with hotspots. This enables data exchange, communication, and location monitoring without the need for conventional cellular or Wi-Fi networks.

Over 100,000 entities, including Helium Mobile subscribers and those utilizing mobile devices or sensors connected to the Helium Network, surpassed this figure early in the month. This number represents a more than 300-time increase from the previous year based on data provided by Helium Mobile.

On July 12, the telecommunications company released a progress report detailing its plan, which includes a collaborative initiative with prominent U.S. telephone corporations to move data over to the Helium Network.

The report unveiled a licensing initiative aimed at enhancing the report’s compatibility with third-party hardware manufacturers. Additionally, OpenRoaming compatibility was introduced to expand data transfer possibilities for hotspot proprietors. This development will facilitate connectivity for Helium users as well as subscribers of any service provider that endorses OpenRoaming.

Tom Shaughnessy Jr, the founder of Delphi Ventures, points out that Helium is a compelling illustration of blockchain technology addressing real-life challenges.

In simpler terms, Shaughnessy pointed out on X that providing home internet through 5G as a service instead of individual mobile plans results in more affordable pricing for retailers. The cost of home internet ranges from $50 to $100 per month, which can be resold to multiple users at a lower price ($20 per user). This setup benefits both the service provider and consumers, with over 100,000 subscribers already on board.