Helium's decentralized mobile network tokens have surged over the past day, with Protocol Token Mobile leading the pack.
Mobile, a governance token issued by 5G-CBRS and Wi-Fi hotspots, is up more than 60% on the day and a massive 821% on the week, currently trading at $0.00632984 according to CoinGecko data. Helium's native cryptocurrency HNT is up 2.4%, trading at $7.39, while the IoT token that supports Helium's Internet of Things subnet is up 11% over the past 24 hours.
The addition of Helium's network tokens follows the announcement earlier this month of Helium Mobile's $20-a-month no-contract smartphone plan offering unlimited data, talk and text and the network's nationwide US rollout.
Helium Mobile provides mobile phone services on the decentralized Helium network with the support of T-Mobile's nationwide 5G network. The company says the subscription package is about eight times cheaper than the average US monthly cell phone bill. Helium CEO Amir Halem tweeted over the weekend that the network had reached 12,500 subscribers.
The Helium 5G network is powered by user-operated nodes that share their services with nearby subscribers and are rewarded with crypto tokens. The network tokens are stored on Solana Blockchain network following this year's migration.
Helium Network has been increasing interest in the Solana Saga smartphone, which comes bundled with a free 30-day Helium Mobile subscription. In recent days, the Saga smartphone has been sold in the US, after crypto traders realized that Solana-based meme coin BONK had airdropped, which is currently worth more than the hardware.
Speaking to Decrypt, Solana's representative noted that the blockchain network is monitoring demand for the tool and “assessing what's coming next.”
Solana and BONK did not fare well on the final day, with Bitcoin falling below $41,000 following the broader downtrend of the crypto market. Solana is currently around $70, down 1.6% on the day, while BONK is down 2.9%.
Disclaimer
The views and opinions expressed by the author are for informational purposes only and are not financial, investment or other advice.
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