Messari, a crypto research firm, just published data titled the “State of Helium Q4 2024,” which provides quantitative metrics and qualitative insights into Helium Network’s growth, adoption, and operational developments in the last quarter of 2024.
The report curated by Messari provides valuable insights into Helium’s growth, adoption, and developments over a period of four months, focusing on DePIN project’s expansion in mobile and IoT network capabilities.
Helium Network finished 2024 with a strong Q4 performance
According to the data, the last quarter of 2024 saw the Helium Network transfer over 576 TB of offloaded data, marking a 555% increase quarter-over-quarter.
It revealed that by the end of Q4, Helium Mobile was serving over 124,000 subscribers on its unlimited talk and text messaging service, reflecting a 7% growth from the previous quarter. That value is now up to over 150,000, according to an update from Messari from days ago.
As far as hotspot expansion is concerned, Helium’s mobile hotspots increased by 14% to 24,800, while IoT hotspots grew by 20% to 32,900 since the migration to Solana.
Nova Labs, a Helium Network associate, tested hotspots in partnership with Telefonica in Mexico, a collaboration that represents an interaction between a decentralized network and a major telecom company.
In October, it was announced that Ameriband’s 100,000+ Data-Only Hotspots joined the Helium Network, significantly expanding its coverage across the U.S.
Helium also implemented HIP 138 to unify its token structure under HNT to reduce complexity and lower barriers to entry for new participants. The change involves redirecting 70% of HNT emissions to the MOBILE subnetwork and 30% to the IOT subnetwork, adjusting rewards for network participants.
In November, Harvard Business School reportedly offered a case study on Helium in their strategy curriculum, and Helium was included in Coinbase’s COIN50, a benchmark representing the top 50 eligible digital assets.
This means eligible institutional and Coinbase Advanced users are able to trade the index via a COIN50 perpetual future on Coinbase’s international exchange.
The data is proof of Helium’s growing traction within the Decentralized Physical Infrastructure Networks (DePIN) sector, showcasing its ability to scale and also attract users and network providers.
Why Helium is considered a leader in DePIN
The data Messari cited in its report makes a strong case for Heium’s DePIN relevance. Helium is not the only project focused on global connectivity; however, it stands above all others as a leader, facilitating other projects in the DePIN space.
Helium’s merits are already apparent, and it has been front and center in DePIN discussions at reputable crypto events including Token 2049, Breakpoint, or any of the DePIN events in Singapore.
One thing that makes the project stand out is its role as an enabler for other DePIN projects, such as DIMO, Hivemapper and WeatherXM, which use Helium’s IOT Network.
Another differentiator is Helium’s primary focus on meeting demand rather than fleshing out supply. Helium’s flexibility in carrier offload also makes it a valuable partner for high-demand venues where traditional carriers often struggle to meet data needs.
This way, Helium gets to work alongside carriers while incentivizing all parties involved. Aside from that Helium’s blockchain offers tokenomics that are simple but effective.
Every time the network is used, Data Credits (DCs) are burned, and this directly reduces the supply of HNT, creating a natural demand mechanism.
Still, if Helium Network is to maintain its competitive advantage, it must not compromise on scaling, capital efficiency, and ability to support composability across multiple networks, such as IOT, MOBILE, and ENERGY.
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