Helium Takes Flight: Telecom Partnerships Propel HNT By Almost 50%

Key Takeaways:

• Helium's native token, HNT, has surged almost 50% in the past week.
• Two prominent US telecommunication firms are shifting traffic to the Helium Mobile Network.
• The project introduced a newly approved Proxy Voting feature, allowing users to nominate themselves as proxy voters.

Helium (HNT), the native token powering the world's leading decentralized blockchain-powered network for Internet of Things (IoT) devices, has experienced a significant surge in the past few weeks. Its value has increased by over 50% over the last seven days.

Looking at the monthly and weekly charts, the HNT price has been consistently increasing despite the overall bearish trend in the global crypto market.

Data shows that Helium (HNT) has surged by 268.82% in the past year and 116.00% in the past month, currently trading at $6.95. These impressive increases come after several positive developments within the Helium ecosystem, which have understandably generated excitement.

Why Helium Price Keeps Increasing

HNT is experiencing growth due to increased adoption within its ecosystem. In a recent announcement, two prominent American telecommunication companies have commenced trials to shift traffic to the Helium Mobile Network, signaling an exciting development in incorporating decentralized networks by established telecommunication firms.

Carrier Has Arrived 👀🥁

2 large US carriers have initiated tests to offload their traffic onto the @Helium MOBILE Network, and the results are lighting up the charts!

Decentralized networks are here to support existing telcos, and the big players are in. Let's go! 🔥 pic.twitter.com/h2qIEkRGML

— Helium🎈 (@helium) August 9, 2024

According to the statement, the number of subscribers for the first carrier rose to 185,378 from 5,122 on June 18. This figure represents individuals connected to the Helium Network via hotspots.

The specific data from the first carrier indicates that 2,612 GB of data (messages, media, etc.) was transferred through the Helium Network during that period.

Moreover, twenty-three hotspots currently service the first carrier, with 205 subscribers per hotspot daily, demonstrating the effectiveness of a single hotspot.

Similarly, between June 25, 2024, and August 9, 2024, Carrier 2 experienced significant growth. Per a post on X (formerly Twitter) by the team, Carrier 2 subscribers increased from 2 to 122,482 during this period, with 1,686 GB of data transferred. Carrier 2 was supported by 63 hotspots, each serving an average of 96 daily subscribers.

Despite still being in the beta stages, these carriers have gained strong support and adoption from companies, businesses, and users interested in the innovative blockchain technology-based Mobile Virtual Network Operation (MVNO).

This progress occurred after Helium Mobile became the first wireless carrier to reward and incentivize users using the MOBILE token, enabling them to help build and partially own the physical network.

Introduction of HIP 110 – Newly Approved Proxy Voting Feature.

In other news, the Helium team has announced the launch of HIP 110, a newly approved Proxy Voting feature. This new feature allows Helium Network users to nominate themselves as proxy voters, enabling other wallets to delegate their voting power to them.

Proxy Voting Update – Registration is Now Open

HIP 110—Proxy Voting has passed, and now Helium Network users have the opportunity to nominate themselves as proxy voter, allowing other wallets to assign their voting power to them. 🗳️

To get started, please review the… pic.twitter.com/mhpyS119EE

— Helium Foundation 🎈 (@HeliumFndn) August 12, 2024

According to their GitHub instructions, a voting proxy is a wallet that can vote on behalf of other wallets. On the other hand, a voting wallet can assign its votes to a specific proxy.

“An example of this would be assigning your voting power to your friend who knows more about Helium,” they maintained.

Helium operates a blockchain network designed for IoT devices. Hotspots serve as nodes to link wireless devices to the network. The native token HNT fuels the network and compensates Hotspots for transmitting connection data.