Key Takeaways
- Helium is a decentralized physical infrastructure network (DePIN) that allows individuals to deploy Hotspots creating wireless coverage for IoT devices and mobile connectivity.
- In April 2023, Helium completed migration from its native blockchain to Solana, enhancing transaction speeds and unlocking DeFi capabilities for network participants.
- The network operates through two main subnetworks: Helium IoT for low-power devices and Helium Mobile for cellular connectivity, each with dedicated tokens.
- Helium Mobile offers competitive phone plans including free and paid options, with a recent expansion to Mexico through partnership with Telefónica.
- As of April 2025, the SEC has dismissed unregistered security claims against Nova Labs with a $200,000 settlement, removing significant regulatory uncertainty.
Helium has firmly established itself as a distinctive decentralized wireless network that flips the traditional infrastructure model on its head. By empowering individuals to contribute to and own a piece of the network, Helium creates a more connected world where wireless coverage becomes a shared resource. Originally designed for Internet of Things (IoT) devices, the network has expanded to include mobile connectivity, demonstrating its adaptability and growth potential. Recent developments include geographic expansion through a partnership with Telefónica to bring Mobile Hotspots to Mexico and the resolution of regulatory concerns with the SEC in April 2025. The platform continues to innovate with various data plans, including a free option that rewards users. As of April 15, 2025, HNT is trading at approximately $2.75, with a circulating supply of 179.76 million tokens and a market capitalization of around $588 million.
What Is Helium?
Helium is a decentralized physical infrastructure network (DePIN) focused on wireless connectivity that allows individuals and businesses to deploy physical Hotspots that power decentralized wireless networks. Originally launched in 2019 with a focus on IoT devices, Helium enables low-powered sensors and machines to communicate with each other and transmit data across its expansive network of nodes. These Hotspots serve as both wireless gateways and blockchain transaction processors, allowing operators to earn HNT cryptocurrency as rewards for providing network coverage and validating transactions.
At its core, Helium aims to solve connectivity challenges by creating community-owned wireless infrastructure instead of relying solely on traditional telecom companies. This revolutionary approach addresses gaps in coverage, especially for IoT applications where traditional cellular networks may be impractical or too expensive. The network has since evolved into what they call a “Network of Networks,” expanding beyond IoT to include Helium Mobile, which provides 5G connectivity for smartphones and other mobile devices. This expansion demonstrates Helium’s commitment to its vision of creating decentralized wireless networks that can serve various connectivity needs while rewarding those who contribute to building the infrastructure.
Who Is Behind Helium?
Helium was co-founded in 2013 by Amir Haleem, Shawn Fanning, and Sean Carey, who envisioned creating a decentralized wireless infrastructure to support the rapidly growing IoT industry. Haleem, who remains CEO of Nova Labs (formerly Helium, Inc.), brings extensive experience from the gaming industry. Fanning is notably recognized as the creator of Napster, the pioneering file-sharing service that disrupted the music industry in the early 2000s. The founding team’s background combines expertise in distributed systems, peer-to-peer technology, and wireless communications—a perfect blend for Helium’s ambitious mission.
In March 2022, Helium Inc. rebranded to Nova Labs Inc. and secured $200 million in funding led by Tiger Global Management and Andreessen Horowitz, highlighting significant investor confidence in the project. The development and governance of the Helium Network subsequently transitioned to the Helium Foundation, a decentralized non-profit entity separate from Nova Labs that oversees the network’s development independently. This separation marks an important step in Helium’s progressive decentralization journey. Notable partnerships include a collaboration with Dish Network in 2021 to deploy thousands of Helium hotspots across their nationwide cellular network, and more recently, a partnership with Telefónica in January 2024 to bring Mobile Hotspots to Mexico, extending Helium’s global footprint.
How Helium Works: A Technical Explanation
Helium’s technological infrastructure operates through a network of physical devices called Hotspots that individuals and businesses can deploy in their homes, offices, or other locations. Originally, these Hotspots operated on Helium’s proprietary blockchain, but in April 2023, the network completed a migration to Solana to take advantage of faster transaction speeds, lower costs, and enhanced smart contract capabilities. This migration marked a significant evolution for the project, opening up new possibilities for developers and users within the ecosystem.
The network currently consists of two main subnetworks, each serving different connectivity needs. The original Helium IoT network uses LoRaWAN (Long Range Wide Area Network) technology to connect low-power devices like sensors, trackers, and other IoT machines. This low-bandwidth, long-range coverage is ideal for applications requiring extended battery life and occasional data transmission. The newer Helium Mobile network, launched in 2022, provides cellular connectivity through 5G-capable Hotspots, enabling service for smartphones and other mobile devices requiring higher bandwidth. This dual-network approach allows Helium to address various connectivity needs while maintaining its decentralized ethos.
Helium’s economic model relies on a multi-token system that incentivizes network growth and usage. HNT serves as the primary utility token, rewarded to Hotspot operators for providing network coverage and validating transactions. Since the migration to Solana, HNT operates as an SPL token (Solana’s token standard). The ecosystem also includes specialized tokens: IOT for the IoT subnetwork, MOBILE for the Mobile subnetwork, and Data Credits (DC) which are created by burning HNT and used to pay for data transfer on the network. This tokenomic design creates a circular economy where network usage drives token demand, and token rewards incentivize network expansion. The model ensures that as more devices use the network for data transmission, more HNT must be burned to create Data Credits, potentially reducing supply and benefiting token holders.
Governance within the Helium ecosystem takes place through Helium Improvement Proposals (HIPs) and a decentralized autonomous organization (DAO) structure. The creation of dedicated subDAOs for the IoT and Mobile networks allows for specialized governance focusing on the unique challenges and opportunities of each network. This democratic approach to development ensures that the Helium community directly influences the network’s evolution, reinforcing its decentralized nature. The technical architecture, combined with its novel economic incentives and governance model, positions Helium as a pioneer in the emerging DePIN (Decentralized Physical Infrastructure Network) sector.
Current Status Of Helium In The Wider Ecosystem
In the competitive landscape of decentralized physical infrastructure networks (DePIN), Helium has established itself as a frontrunner, particularly in wireless connectivity. The DePIN sector, which focuses on building real-world infrastructure through decentralized participation, has gained significant attention as blockchain technology seeks practical applications beyond financial services. Within this growing sector, Helium’s dual focus on IoT and mobile connectivity gives it a diversified approach compared to other projects that might focus solely on one type of infrastructure.
The network’s adoption metrics remain impressive despite market fluctuations. With thousands of active Hotspots deployed globally, Helium continues to expand its physical coverage footprint. The launch of Helium Mobile in December 2023 with its no-contract, $20 per month phone plan offering unlimited data, talk, and text nationwide across the United States represents a significant milestone in bringing decentralized wireless to mainstream consumers. This consumer-facing service demonstrates Helium’s evolution from a purely infrastructure play to a comprehensive connectivity solution that directly competes with traditional telecom providers.
Recent regulatory developments have also shaped Helium’s position in the ecosystem. On April 10, 2025, the SEC agreed to dismiss unregistered security claims against Nova Labs, with the company agreeing to a $200,000 settlement without admitting or denying allegations. This resolution removes significant regulatory uncertainty that had been looming over the project since January 2025, potentially clearing the path for more institutional participation and partnerships. Additionally, the project’s migration to Solana has integrated Helium more deeply into a thriving blockchain ecosystem, allowing for interoperability with other Solana-based projects and DeFi protocols. This strategic positioning within both the wireless industry and the broader blockchain space showcases Helium’s adaptability and vision for long-term sustainability.
Helium’s Price Journey
HNT’s price history has been characterized by significant volatility, reflecting both the broader cryptocurrency market trends and developments specific to the project. After launching in 2019, the token saw modest growth initially before experiencing explosive price action during the 2021 bull market. HNT reached its all-time high of approximately $48.80 in November 2021, coinciding with peak enthusiasm for cryptocurrency and decentralized networks. This remarkable ascent represented validation for Helium’s vision of a decentralized wireless future.
The subsequent market contraction throughout 2022 saw HNT decline substantially along with most digital assets, with prices falling below $10 by year’s end. Throughout 2023, the token traded in a consolidation range as the project focused on technical improvements, including the significant migration to Solana. Despite these important developments, HNT continued to face downward pressure during the extended crypto winter. The first half of 2024 brought modest recovery coinciding with improved sentiment across cryptocurrency markets, though prices remained significantly below previous highs.
In early 2025, HNT experienced further volatility when the SEC filed its complaint against Nova Labs in January, temporarily suppressing prices due to regulatory uncertainty. However, the April 2025 settlement with the SEC provided some relief, though the impact on price recovery has been modest thus far. As of April 15, 2025, HNT trades at approximately $2.75, representing a significant distance from its all-time high but showing stability in recent months. This current valuation reflects a market still assessing the long-term potential of decentralized wireless infrastructure against the backdrop of both technical achievements and regulatory challenges.
Current Data & Interesting Statistics About Helium
- Helium’s total market capitalization stands at approximately $588 million as of mid-April 2025, positioning it around the 90th largest cryptocurrency by market size.
- The network has successfully completed migration from its native blockchain to Solana, processing all token transfers during a 48-hour migration window on April 18, 2023.
- Helium Mobile currently offers multiple plan tiers including a free plan with rewards, a $15 international roaming plan, and a $20 unlimited nationwide plan in the United States.
- The circulating supply of HNT is approximately 179.76 million tokens out of a maximum supply of 223 million, representing about 80.5% of the total possible supply.
- In January 2024, Helium partnered with Telefónica to bring Mobile Hotspots to Mexico, marking the first step in potentially offering Helium Mobile services internationally.
- The Helium governance structure now operates through three decentralized autonomous organizations (DAOs): the Helium DAO, IoT subDAO, and MOBILE subDAO.
- The SEC settlement in April 2025 included a $200,000 penalty without admission of guilt, resolving allegations related to unregistered securities and misleading statements about partnerships.
What Is The Future Of Helium?
Helium’s roadmap emphasizes continued expansion of both its IoT and Mobile networks, with particular focus on international growth following the Telefónica partnership in Mexico. The project aims to increase adoption of its Mobile network through competitive pricing and unique rewards mechanisms that traditional telecoms cannot match. Additionally, Helium’s migration to Solana opens new possibilities for integration with DeFi applications and other blockchain services, potentially expanding utility for token holders beyond network participation.
Market analysts anticipate growth in the broader DePIN sector as blockchain technology continues seeking real-world applications with tangible benefits. As one of the more established projects in this space, Helium stands to benefit from increasing interest in decentralized alternatives to traditional infrastructure. The resolution of regulatory questions following the SEC settlement removes a significant barrier to institutional adoption and partnership opportunities. However, challenges remain, including competition from traditional telecom providers and other blockchain projects entering the wireless space. Ultimately, Helium’s success will depend on its ability to deliver reliable, affordable connectivity while maintaining the economic incentives that drive network growth.
Owning The Future Of Wireless
Helium represents a bold reimagining of how wireless infrastructure can be built, owned, and operated in a decentralized manner. By transforming individuals from mere consumers of connectivity into active participants who can earn rewards, the project fundamentally alters the economic dynamics of telecommunications. The dual-network approach addressing both IoT and mobile needs demonstrates adaptability and foresight in an increasingly connected world. Despite price volatility and regulatory challenges, Helium has consistently focused on technological development and expansion of its physical network. The migration to Solana, launch of consumer-facing mobile services, and international partnerships reflect a project that continues to evolve beyond its initial vision. Whether Helium ultimately becomes a dominant force in telecommunications or remains a niche alternative, its innovative approach to combining blockchain incentives with physical infrastructure has already left an indelible mark on both industries and opened new possibilities for decentralized ownership of essential services.
Michael Crag
