The Solana-based coins that drive the decentralized 5G network have seen a rise in value after Helium’s statewide launch in the US.
According to CoinGecko, the 5G-CBRS and Wi-Fi hotspot-mined MOBILE governance token is currently trading at $0.00632984, up more than 60% today and a whopping 821% week to date. While Helium’s native cryptocurrency, HNT, has gained 2.4% and is now trading at $7.39, the Internet of Things (IoT) token, which is the foundation of Helium’s subnetworks, has gained 11% in the last 24 hours.
The statewide deployment of Helium Network in the United States and the debut of Helium Mobile’s $20/month no-contract smartphone plan, which offers unlimited data, speak, and text, have both contributed to the spike in Helium Network tokens’ value.
Claiming to provide a subscription package that is almost eight times less expensive than the typical U.S. monthly mobile bill, Helium Mobile offers cellular phone service via the decentralized Helium network with assistance from T-Mobile’s worldwide 5G network. Helium CEO Amir Haleem announced the network’s 12,500 subscribers over the weekend in a Twitter post.
The user-operated nodes that power Helium’s 5G network get cryptocurrency tokens in exchange for providing their service to adjacent users. After migrating to the Solana blockchain this year, the network’s coins were created on that platform.
The Solana Saga smartphone has been selling like hotcakes, and Helium Network is reaping the benefits as well. The phone includes a free 30-day Helium Mobile membership. Crypto traders have just discovered that the Saga smartphone comes with an airdrop of the Solana-based meme currency BONK, which, at current values, is worth more than the hardware. As a result, the smartphone has sold out in the US.
One of Solana’s representatives told Decrypt that the network is keeping an eye on the device’s demand so it can “assess what comes next.”
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