Published
4 months ago on
December 07, 2023
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Helium Mobile, the world’s first crypto carrier, has announced the launch of a nationwide plan in the United States, offering unlimited data, text, and calls at just $20 a month.
Helium Mobile combines the Helium Network, an Internet-of-Things project based on the Solana blockchain, and a nationwide 5G network.
Helium Mobile Launches Nationwide Unlimited Plan
The launch of the mobile plan comes after Helium carried out a limited trial in Miami earlier this year. With the plan’s launch, the Helium Network’s developer stated that users across the US can tap into unlimited data, talk, and text for just $20 per month through Helium Mobile’s cell service, provided in partnership with T-Mobile. The entity behind the Helium Network, Nova Labs, has been working on the nationwide plan since it announced a partnership with T-Mobile back in September 2022. The company said in a statement about the plan,
“With Helium Mobile Hotspots, subscribers can own and set up ‘mini cell towers. Dead zones can become a thing of the past when anyone can become a builder and set up a hotspot to expand the network for themselves and the community.”
However, how Nova Labs can generate revenue from the so-far unprofitable Helium Network remains to be seen. Investors have already asked questions about revenue after Helium generated only $6651 in revenue from its wireless network in June 2022.
How Helium Works
The Helium Network allows individuals to run hotspot nodes from their homes or businesses in exchange for rewards paid out in Solana-based MOBILE tokens. Currently, Nova Labs is offering a hybrid cell service that allows users to connect via its decentralized network, with T-Mobile taking over each time Helium hotspots cannot provide coverage. Helium Mobile is currently offering an outdoor Helium Mobile hotspot for $499 and an indoor hotspot for $299. According to data from the Helium Hotspots Map, there are 3831 active mobile hotspots in the network and 357,087 active hotspots for Internet-of-Things devices.
However, T-Mobile is charging Helium for the backup coverage, meaning Nova Labs has considerable incentive to grow its hotspot network. Currently, Helium has strong coverage in major cities, but despite this, the node network could be better. According to Boris Renski, the general manager of wireless at Nova Labs, the company isn’t aiming to blanket the US,
“All we need is to cover 3% or even less of the geographic area where data is used the most, and this will result in more than 50% of the T-Mobile traffic actually shifting to the Helium network.”
HNT Token Surges
The Solana-based HNT token saw a staggering increase of 50% following Helium Network’s announcement that users can access unlimited data, voice, and text for $20. The HNT token rallied after the announcement, rising from $2.75 to $3 on Tuesday. The increase saw the price hit a critical level at $3, following which bullish sentiment took over, sending the price of the token surging.
On Wednesday, the HNT token jumped from $3 to $4.99. The token continued its stunning increase, with the price of the token crossing $5. At the time of writing, the HNT token is trading at $5.23. HNT’s trading volume has also witnessed a considerable increase, soaring by over 1000% in 24 hours, according to data from CoimMarketCap.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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