- Helium is one of the fastest-growing wireless network projects in the world, raking in $200 million from Tiger Global and Andreessen Horowitz.
- The project is now working to become a “network of networks” after HIP-51 was passed on June 5.
- Helium recently launched a new mobile app, allowing users to manage their tokens and control Hotspots at the same time.
- While other cryptos are consolidating, Helium (HNT) has gained more than 80% in the last 14 days.
Helium (HNT) is a decentralized blockchain that powers The People’s Network, currently described as the fastest-growing wireless network in the world. Helium is a 5G Internet-of-Things-focused project.
Helium’s technology allows anyone to build huge, cost-efficient wireless infrastructure. Users can leverage Helium’s nodes called Hotspots to connect low-powered wireless devices allowing them to communicate with each other and send data across its network.
One of the biggest milestones for Helium was raising $200 million from Tiger Global and Andreessen Horowitz in March 2022. Since then, how has the Helium project performed?
Recent Developments
On Thursday, June 8, Helium Foundation announced the launch of the Helium Wallet. The wallet is available in Apple (NASDAQ:AAPL) and Android play stores. The app will help users manage tokens and identities on the Helium network.
By importing their unique 12-word seed phrase into the new Helium Wallet App, users can use the App to control all their hotspots. The option is found in Maker Apps or Dashboards.
Just after launching its wallet, Helium Foundation announced the launch of MosoLabs. The new firm will focus on providing users with exceptional products that empower people to build, use, and grow the Helium 5G network.
MosoLabs is a company that designs and distributes innovative hardware and software for open, decentralized wireless networks.
The Helium Network has also crossed 850,000 Hotspots, making it the fastest-growing decentralized wireless network worldwide.
In May, Binary Beer became the latest addition to the Helium Network. Binary Beer now leverages Helium’s technology to track and monitor inventory accurately, enabling digital transformation across the draught beer industry.
Future Events
Helium will be participating in Helium House ATX on June 11, where it will “showcase and celebrate digital currencies” at the Riley Building in Austin, Texas.
Following the successful voting on the Helium Improvement Proposal 51 (HIP-51), Helium now looks to make Helium and its token HNT become a “Network of Networks.”
Helium developers will now work to scale the Helium Network to support new users, devices and different types of networks, including cellular, VPN, WiFi and LPWAN.
Price Updates
The significant developments have helped Helium (HNT) maintain a sustained rally. While other cryptos have consolidated in June, HNT has been rallying and is the third biggest gainer.
The 7D price chart of Helium (HNT). Source: CoinMarketCap
In the last 14 days, HNT has jumped by more than 80%, trading as high as $12.3 from a low of $7.2. Over the last 7 days, Helium has gained more than 37%, making it the biggest gainer among the top 100 cryptos ranked by market cap.
The price boost has helped Helium scale several positions on this ranking. Helium is now ranked as the 41st largest crypto by market cap. At this writing, HNT trades at $11.46 and has a market cap of $1.388 billion.
On The Flipside
- Despite its recent price boost, Helium (HNT) still trades 78% lower than its November 2021 all-time high of $55.22.
Community
Describing itself as the People’s network, Helium prides itself on being a community-centric project. Helium Hotspots allow community members to earn by mining free HNT with only their mobile phones. This feature of Helium has endeared users to the project.
One Twitter (NYSE:TWTR) user, @NetflixCrypto, writes about the Helium mining;
The @helium $HNT crew are up to some pretty cool things. Can't wait for @DorTechnologies rewarded with $DAG real world utility pic.twitter.com/5NRv8OfNA9— Netflix (NASDAQ:NFLX) Crypto (@NetflixCrypto) June 7, 2022
Another user, @getmntd_, writes about Helium;
How the #crypto market makes us feel: How the @helium network makes us feel:— MNTD. (@getmntd_) June 3, 2022
Johan Zijlstra has this to say about the Helium project;
The only way is to impose a tax on every connection. Don't even have to be much, something like 0.001 cent. Can be easily achieved with crypto. Helium does it already on their mobile network— Johan Zijlstra (@johan_zijlstra) June 3, 2022
Why You Should Care
Helium has proven to be a very ambitious project since its launch. Raising $200 million from the likes of Tiger Global and Andreessen Horowitz to build the decentralized wireless future speaks volumes of Helium’s potential to make future progress.
