- Helium’s revenue skyrockets as network burns surge by 196.6%.
- HNT token value linked to network utility through deflationary mechanism.
- Helium repurchases 5.7 million tokens, increasing transparency and adoption.
Helium (HNT) has just wrapped up a remarkable quarter, reporting an explosive surge in both network usage and financial performance. According to Messari analyst Matthew Nay, Helium achieved an annualized revenue of $18.3 million, driven by the bold decision to burn 100% of its Mobile Virtual Network Operator (MVNO) subscription revenue. This strategic move had an immediate impact, causing a staggering 196.6% quarter-over-quarter (QoQ) increase in daily Data Credit (DC) burns, which reached $30,920.
The network’s growth is equally impressive. Helium hotspots have now processed over 8.5 petabytes of data, nearly half the size of the Library of Congress. Meanwhile, mobile paid traffic saw a massive 57.3% QoQ jump, hitting 32.4 terabytes per day. The number of unique mobile devices connecting to the network also skyrocketed by 35.4%, with 1.2 million daily connections in Q3.
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Helium’s Financial Surge and Strategic Moves Fuel Network Growth
In a further boost to the ecosystem, Helium passed the HIP 147 proposal, which increased the share of HNT emissions rewarded to data-transferring hotspots from 40% to 60%. This shift underscores the growing importance of data transfer on the network, as Helium continues to refine its reward structure.
Helium’s financial metrics also show strong growth. The circulating market cap of HNT rose by 9.1% QoQ to $453.9 million, while the token price increased by 7.8%, moving from $2.26 to $2.44. Additionally, the third halving event in HIP-20 reduced annual emissions from 15 million HNT to 7.5 million HNT, creating a tighter supply of the token. This halving event, along with the burn mechanism, ensures that the value of HNT is directly linked to network usage, creating a deflationary loop with consistent buy pressure.
Helium Looks Ahead: Potential for Bullish Growth and Continued Innovation
In another strategic move, Helium repurchased 5.7 million HNT tokens from an early investor, further reducing supply. The company also announced plans to introduce greater transparency in reporting off-chain revenue, signaling a commitment to building trust within the ecosystem. The upcoming launch of Helium Plus is expected to further drive adoption, potentially accelerating the network’s growth even further.
As of now, HNT is consolidating around $2.30, with resistance at $2.63. A breakout above this level could trigger a bullish trend, with analysts predicting potential targets as high as $5.50, and even $10 in the long term. However, should the token fail to maintain support at $2, it could revisit its historical accumulation zone around $1.69.
Source: Tradingview
Helium’s recent actions indicate a promising future for the network, combining strong growth in both network usage and token performance. The platform’s ongoing innovations suggest that Helium is poised to become a major force in the decentralized wireless network industry.
