Solana-based Helium’s unlimited plan launch propels HNT to yearly high

Solana-based Helium Network’s HNT token experienced a significant surge, reaching a yearly high of over $5. This surge marks a turnaround for the network, which has faced challenges related to product issues and transitioning to Solana. Despite this recent success, the token is still considerably far from its all-time high, down 91% from the peak of $54. The surge in HNT’s price can be attributed to the launch of Helium Mobile’s $20 monthly phone plan in the US, offering unlimited data, talk, and text. This cost-effective alternative to traditional service providers has gained traction, considering that the average American spends around $157 per month solely on phone plans. Helium’s connectivity service utilizes its 5G network, enabling users to set up mini-cell towers and expand network coverage. The partnership between Nova Labs (the entity behind Helium Network) and T-Mobile has extended coverage for Helium Mobile in areas where the network was previously absent. Additionally, HNT’s price surge has been influenced by the positive sentiment surrounding the Solana network ecosystem, which has attracted a growing number of users and prompted predictions that it could surpass rival smart contract-based blockchain network Ethereum in terms of market share. This resurgence has reassured users about Solana’s scalability roadmap, leading to increased interest in the platform.