helium HNT
+6.25%
Self-proclaimed ‘world’s first’ mobile Cryptocarrier said Tuesday it has launched a U.S.-wide plan that offers unlimited data, text and calls for $20 per month.
Helium Mobile’s service is a service that combines the P2P Helium Network, an Internet of Things project using the Solana blockchain, and a nationwide 5G network. The launch follows limited testing in Miami earlier this year.
“Helium Mobile Hotspot allows subscribers to own and set up a ‘mini cell tower,’” the company said in a statement. “If anyone could become a builder and set up hotspots to expand the network for themselves and their community, dead zones could be a thing of the past.”
helium hotspot
Helium Mobile offers the outdoor Helium Mobile Hotspot for $499 and the indoor hotspot for $249.
According to the Helium Hotspots Map, there are currently 3,831 active mobile hotspots on the network and 357,087 active hotspots for Internet of Things devices.
The price of Helium’s HNT token, which is used to incentivize hotspot operators supporting the network, rose slightly on Tuesday following the news, but its current level of $2.98 is still well below its all-time high set in late 2021, when the token is trading. Each token traded over $51.
Helium Network was founded in 2013 to build a peer-to-peer wireless network for Internet of Things devices. It raised $111 million in a 2021 token sale led by Andreessen Horowitz. Other investors include 10T, Ribbit Capital, Multicoin Capital and now-bankrupt trading firm Alameda Research.
Last February, the project raised $200 million in a Series D round at a $1.2 billion valuation, with investors including Tiger Global and FTX Ventures.
In September 2022, the project migrated from its proprietary blockchain to Solana. That same month, Nova Labs signed a deal with T-Mobile to fill gaps in Helium coverage.
Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.
© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.