Helium sees 20% rise in IoT hotspots despite decline

Helium Network demonstrated resilience in Q4 2024, achieving a 20% quarter-over-quarter increase in IoT hotspots despite a broader market downturn.

While its native token, HNT (CRYPTO:HNT), saw a 22% price decline to $5.88 and a 20% drop in market capitalisation to $1.0 billion, the network’s infrastructure growth and strategic partnerships underscore its focus on decentralised connectivity.

Helium Mobile expanded its hotspot count by 14% QoQ to 24,800, while IoT hotspots surged 20% to 32,900 post-migration to Solana.

The network now spans over 375,000 hotspots, bolstered by collaborations like the 100,000+ data-only hotspots added via Ameriband.

A pilot with Telefonica in Mexico tested decentralised telecom integration, marking a first for a major carrier.

During Hurricane Helene, Helium hotspots provided critical 5G coverage in North Carolina, distributing emergency kits with Starlink devices to affected communities.

This highlighted the network’s utility in disaster scenarios, though Messari noted low data transfer demand despite infrastructure growth.

HNT’s price volatility contrasts with infrastructure gains.

The token’s $1.3 billion to $1.0 billion market cap decline reflects broader crypto market pressures.

Analysts attribute long-term growth potential to partnerships and IoT adoption, with price predictions ranging from $4.50 to $100 by 2030.

Past controversies, including alleged token hoarding by founders and misstated partnerships with Lime and Salesforce, remain unresolved.

However, recent developments like HIP 138 token unification aim to simplify incentives, directing 70% of HNT emissions to mobile and 30% to IoT subnetworks.

Helium’s Solana (CRYPTO:SOL) migration and Discovery Mapping feature (now rewarding users with Cloud Points) signal evolving strategies.

While Data Credits usage remains limited, the network’s LoRaWAN infrastructure positions it for IoT scalability.

As telecoms seek cost-efficient solutions, Helium’s decentralised model could bridge gaps between traditional and Web3 connectivity.

At the time of reporting, the Helium (HNT) price was $3.26.