- Annualized revenue hit $18.3M after Helium began burning all subscription income.
- Average daily DC burns surged 196.6% QoQ to $30,920.
- 1.2M daily users connected in Q3; mobile traffic jumped 57.3%.
Helium (HNT) just wrapped up an explosive quarter, witnessing record-breaking growth in both network usage and financial metrics. According to Messari analyst Matthew Nay, Helium recorded an annualized revenue of $18.3 million after implementing its decision to burn 100% of its MVNO subscription revenue.
This move immediately boosted the network’s burn dynamics, as average daily Data Credit (DC) burns skyrocketed by 196.6% quarter-over-quarter (QoQ) to $30,920.
Helium Prints Massive Numbers
Helium hotspots have now processed over 8.5 petabytes of data, nearly half the size of the Library of Congress, while daily mobile paid traffic surged 57.3% QoQ to 32.4 terabytes. The number of unique cell phones connecting to the network climbed 35.4% QoQ, reaching 1.2 million per day in Q3.
The network also passed HIP 147, increasing the share of HNT emissions rewarded to data-transferring hotspots from 40% to 60%, as per Messari’s Helium Q3 report.
Related: Helium (HNT) Price Prediction 2024-2030: Will HNT Price Hit $10 Soon?
A Leaner, Stronger HNT
HNT’s circulating market cap increased 9.1% QoQ to $453.9 million, while the token’s price rose 7.8%, from $2.26 to $2.44. Meanwhile, the third halving event laid out in HIP-20 reduced annual emissions from 15 million HNT to 7.5 million HNT.
Helium’s burn mechanism now ties HNT’s value directly to network utility. To use the network, participants must burn HNT to receive Data Credits, creating consistent buy pressure and a deflationary loop.
Helium also repurchased 5.7 million HNT tokens from an early investor and committed to introducing a transparent mechanism for reporting off-chain revenue. Meanwhile, the launch of Helium Plus is expected to further drive adoption.
HNT Price Analysis: Consolidation Before the Breakout
HNT is trading near $2.30, consolidating tightly within a descending triangle that has been forming since early 2024. The upper resistance line sits around $2.63, with the next major hurdle at $3.56. A confirmed breakout above this level could mark the start of a new bullish trend, targeting $5.50 and eventually $10.
The RSI sits at 43.5 while Bollinger Bands are tightening, hinting at an upcoming volatile move. If bulls fail to hold above the $2 support, however, HNT could revisit the $1.69 level, a historical accumulation zone.
Related: HNT Price Prediction: How Growing DAU Is Fueling Helium’s Momentum
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
