As the Helium network successfully completed a major milestone in its deployment, HNT saw its price skyrocket. What drove this increase?
HNT Soars as Helium Network Hits Major Milestone
As the cryptocurrency market has experienced significant turbulence this week, Helium's HNT is doing more than honorablywith a 51% increase over 7 days, including 13.8% in 24 hours at the time of writing.
Specializing in the “Decentralized Physical Infrastructure Network” (DePIN) sector, Helium intends to revolutionize the world of communications. One of its concrete use cases is a mobile data network, for which it is already possible to subscribe.
💡 What are Decentralized Physical Infrastructure Networks (DePIN)?
So, it is on the side of this famous mobile data network that we must look to explain the increase in HNT. And for good reason, The Helium network is now used by 2 unnamed American operatorsas the company reported on X:
2 major US carriers have launched tests to offload their traffic to 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 here. Let's go!
According to initial data, these operators have accumulated more than 300,000 subscribers whose connections have been redirected to the Helium network, all for 4,361 GB of data:
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
👉 To go further — How does the Helium Network (HNT) work?
From now on, it will be interesting to follow the evolution of the network, as its impact becomes more and more concrete in the physical world.
For its part, HNT is trading at $6.8 per unit, with a capitalization exceeding one billion dollars, for a 59th place in the cryptocurrency ranking.
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Since 2021, I have devoted my free time to seriously training myself on cryptocurrencies in order to acquire as much knowledge and credibility as possible. I often have the opportunity to conduct interviews with influential figures in the blockchain industry. I also conduct in-depth analyses on Web3 themes to offer exclusive content to Cryptoast readers.
Vincent Maire
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