Helium Mobile sign up users surpass 500,000, $HNT buyback momentum is strong

The total number of registered users of Helium Mobile, a decentralized wireless network on Solana, has surpassed 500,000, with the user base doubling since May and daily users exceeding 1.2 million, supported by 113,891 hotspots. Network revenue remains strong, with daily Helium data point destruction consistently around $50,000, mainly from mobile usage. The company currently uses 100% of user revenue to destroy HNT tokens and has initiated automatic buybacks through the Jupiter exchange. Due to the destruction rate exceeding the issuance rate, this has led to net deflation. The growth of Helium highlights the continuous expansion of the DePIN sector, with network fees reaching $4 million in three months, surpassing competitors like GEODNET and Akash Network.

HNT-6.44%
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