Helium Network Records QoQ Growth in Every Conceivable Metric

Helium, a leading Solana DePIN protocol providing distributed mobile services, has witnessed significant network growth in Q3.

One of Solana’s biggest DePINs, Helium has recorded new all-time highs in several critical metrics, including data offloading and mobile hotspot penetration.

What’s next for Helium, and how has its native token, $HNT, responded to the network’s remarkable growth?

Helium Offloaded Data Up 10,202% Since Last Quarter

Earlier this year, Helium secured key partnerships with traditional telecommunication carriers, enabling them to leverage Helium mobile hotspots. Offloaded Data refers to data and bandwidth that subscribers from these carriers have transmitted via Helium’s distributed mobile network.

According to Messari research collected from Dune Analytics data, offloaded data to Helium increased by 10,202% since the previous quarter, rising from 854 GB to over 88,000 GB. This considerable surge in data transferral indicates a dramatically increased demand for mobile coverage, which Helium provides through its DePIN protocol.

But that’s just the tip of the iceberg. Throughout Q4, the amount of data offloaded through the Helium network has exploded. Helium data suggests that this figure has since increased by over 400% in recent months, recording over 4.42 TB of data.

The parabolic growth of Helium’s offloaded data represents one of the biggest surges in DePIN adoption in blockchain history. Additionally, the Solana DePIN protocol shows no sign of slowing down. 

Helium founder and CEO Amir Haleem teased the onboarding of Helium’s 5th carrier partner in early October.

Mobile Hotspot Penetration Up 32%

Mobile hotspots make up the fundamental infrastructure of Helium’s distributed network. Not only do they provide access to Helium’s affordable $20 monthly mobile plans, but hotspots distribute $MOBILE token rewards to operators.

Helium’s mobile hotspot distribution has been steadily increasing throughout 2024. Based on Messari data, the total number of mobile hotspots increased 32% since the previous quarter, rising from 16,500 to 21,800.

This figure has surged to new heights in Q4, with a dramatic spike in deployments in October bringing the total to 27,567, according to Helium data.

Since Helium’s inception, over 122,000 users have signed up with the mobile provider and minted the Subscriber NFT. While this figure may not track ongoing users, it illustrates Hellium’s growing popularity among end-users. But Helium’s user base extends far beyond subscribers alone.

Through its partnerships with traditional carriers, the Helium mobile network services over 211,000 daily subscribers from other carriers.

$HNT Up 28% As Solana DePIN Soars

With Bitcoin breaking the key psychological barrier at $100,000, altcoins across the market are enjoying inflows of capital from investors. Solana’s thriving DePIN sector has seen renewed interest across the board.

Helium’s native token, $HNT, has established itself as one of the leaders of Solana DePIN. On top of its role as a governance token, $HNT can be burnt in exchange for Helium Data Credits which are redeemable for data transfer within the Helium ecosystem.

Driven by growing demand for Helium data credits $HNT has surged in recent weeks. Based on Step Finance analytics, the asset has climbing 29.05% on a monthly time frame to currently exchange hands at $8.45.

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