Helium (HNT), which is based on Solana, had a stunning 50% increase in a relatively short time during today's trading session.
The price increase began on Tuesday, shortly after the Helium network announced that users throughout the United States can now access unlimited data, voice and text for $20 per month via a newly launched mobile service.
Since partnering with T-Mobile in September 2022, Nova Labs, the company behind the Helium Network, has been planning the nationwide phone plan launch.
This became a reality as Helium Mobile has now launched a nationwide phone plan leveraging the Helium network — a mobile service backed by people-powered hotspots and a 5G network.
Given this, HNT, the Helium Network's native crypto asset, rallied from lows of $2.75 to highs of $3.00 in Tuesday's trading. The price increase hit a critical level at $3.00, coupled with the positive ride in the crypto market, causing HNT bulls to go on a rampage.
This accelerated the rise, with Helium's HNT jumping from $3.00 to $4.99 in Wednesday trading, creating a monster green candlestick.
At the time of writing, HNT was up 47.33% in the last 24 hours to $4.06. This price move has made Helium one of the largest gainers, ranking second only to Bittorrent, which has gained 105% in the last 24 hours.
In response to the price volatility, HNT's 24-hour trading volume has also increased. Helium's trading volume soared by 1,039% in the previous 24 hours, according to CoinMarketCap data, with $28,912,353 worth traded in the last 24 hours.
In April, Helium completed its upgrade to Solana in one of the most significant Layer-1 blockchain migrations ever. Helium previously operated its own Layer-1 blockchain, but the Solana network provided more opportunities for growth and success.