As major altcoins experience a necessary pullback following a robust uptrend, smaller-cap altcoins are seizing attention with Helium Mobile (MOBILE) leading the way, marking a substantial 100% surge in the past 24 hours, reaching $0.0070. Concurrently, trading volume has surged by 200%, reaching $18 million.
What’s the Secret Behind Helium Mobile Token Surging?
Helium Mobile has recently launched nationwide unlimited mobile services priced at $20 per month, attracting around 8,000 subscribers to their mobile virtual network operator (MVNO). New subscribers have the option to earn ‘mapping rewards’ by sharing their phone’s session connection data with Helium. Upon agreement, a non-fungible token (NFT) is minted into their Helium (Solana) wallet, granting holders a proportionate share of $MOBILE mapping rewards, constituting 20% of all $MOBILE rewards.
In cryptocurrency terms, Helium Mobile users can receive $MOBILE rewards, a form of cryptocurrency payment, by employing an NFT supporting location monitoring on their phones. These devices are integrated with a Helium cryptocurrency wallet operating on the Solana blockchain platform.
Increasing Demand for NFTs
By embracing the NFT integration, customers play a crucial role in pinpointing Helium user concentrations, enabling the company to incentivize hotspot deployment in those areas and consequently reducing MVNO network-usage payments to T-Mobile.
Salvador Gala, co-founder of Escape Velocity Ventures, a decentralized web (DeWi) space investor, provided insights into Helium Mobile’s NFT issuance. According to Gala, data from a crypto-tracking site indicates approximately 8,000 recipients of Helium Mobile’s NFT, believed to accurately represent the customer count.
An additional count, totaling around 34,000, encompasses individuals who downloaded the app and opted into mapping but may not have subscribed to a cell phone plan yet. Gala also noted a significant portion of Helium Mobile’s customers likely signed up during the period when $5 per month services were available in Miami before the nationwide launch of $20 per month services.
