A decentralized wireless network altcoin on the Solana (SOL) blockchain is soaring amid two big consumer-driven events.
The decentralized finance (DeFi) telecommunications project Helium Mobile (MOBILE) is up 60% in the past 24 hours, going from Sunday’s low of $0.0042 to $0.0067 at time of writing.
The sudden surge comes as the Helium Mobile project announced earlier this week that it sold out of outdoor hotspot devices, which allow consumers to participate in building the network’s coverage while earning MOBILE tokens as rewards.
“Outdoor hotspots are sold out. But don’t worry, indoor hotspots are still available…”
Helium Mobile announced earlier the month plans to roll out a $20 per month smartphone service in the United States after operating a cellular plan in Miami.
Helium says the service is more affordable than traditional carriers because its model leverages infrastructure owned by individuals who can earn MOBILE tokens for sharing data. The company also teamed up with telecom giant T-Mobile to give subscribers access to the nation’s largest 5G network.
Those who purchase Saga, the crypto-friendly flagship phone of the company behind Solana, receive a month-long free subscription to Helium Mobile.
Solana just sold out of the Saga phones, according to a recent announcement.
“The Saga is SOLD OUT! Words cannot describe how much we appreciate your support. We are nothing without this amazing community While these past few days will be cemented in our history, we’re excited for the future Stay tuned.”
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Featured Image: Shutterstock/Rattanamanee Patpong