Key Takeaways
- Helium uses blockchain to create a network for Internet of Things (IoT) devices. This network aims to be an alternative to existing IoT communication methods. Helium also runs a Mobile network that carries phone data for carriers.
- Anyone can participate in the network by setting up a Helium Hotspot, a specialized miner. Hotspots provide network coverage and earn HNT tokens as rewards.
- HNT is the native token of the Helium network. It incentivizes network participants and pays for data transferred over the network.
What Is Helium (HNT)?
Helium (HNT) is a project that utilizes blockchain technology to create a decentralized network for Internet of Things (IoT) devices. The project aims to address limitations in current IoT communication by building a decentralized, low-powered network that offers global coverage.
Helium moved from its own blockchain to Solana on April 18, 2023. It now runs an IoT network and a Mobile network, where Hotspots and Wi-Fi access points carry phone data that carriers offload. In October 2026, Helium’s website listed over 358,000 active Hotspots and more than 1 million daily users.
Nova Labs, which does business as Helium, develops the network. Helium Mobile phone plans are now sold by Affiniti Ventures, Inc. under license from Nova Labs.
How Does Helium (HNT) Work?
Helium (HNT) functions within a decentralized network for Internet of Things (IoT) devices. Here’s a breakdown of how it works:
Network Infrastructure
The network’s core consists of Helium Hotspots, which are low-powered towers operated by users. On the IoT network, these Hotspots use LoRaWAN, a low-power wide-area network protocol, for long-range wireless communication with IoT devices.
Data Transfer And Rewards
Data Transmission
IoT devices transmit data packets through nearby Helium Hotspots. The hotspots relay these packets to the Helium blockchain, ensuring secure data transfer.
HNT Rewards
Hotspot owners earn HNT tokens for two key actions:
- Data Transfer – They receive HNT to transfer data packets across the network. The more data transferred, the greater the rewards.
- Proof-of-Coverage (PoC) – The network periodically challenged hotspots to verify their location, and passing earned extra HNT. HIP 149, approved in July 2026, retires Proof-of-Coverage on both networks, so rewards follow the data Hotspots carry.
Transactions And Utility
- Data Credits – HNT generates Data Credits, a separate token used to pay for data transfer on the Helium Network. Think of HNT as the fuel source for Data Credits, which are the actual “tickets” used for network transactions.
- Transaction Fees – Fees for adding devices and Hotspots are paid in Data Credits; ordinary HNT transfers pay Solana network fees.
Helium (HNT) Token And Tokenomics
Tokenomics
The HNT token is Helium’s native cryptocurrency. It is used for:
- Facilitating Transactions
- Hotspot Incentives
- Transaction Fees
Token Details
Maximum Supply: 223,000,000 HNT under the original halving schedule (HIP 149 adds about 141 million, see below)
Circulating Supply: about 194.2 million HNT
Price (early October 2026): about $0.54
Market Capitalization (early October 2026): about $105 million
Price, market capitalization and supply are from CoinGecko as of October 7, 2026, and change constantly. The distribution below is the original plan from launch.
Distribution
- Network Data Transfer (30%)
- Hotspot Infrastructure (35%)
- Helium, Inc. & Investors (35%)
HIP 138, in effect since early 2025, stopped minting MOBILE and IOT, the reward tokens of the two networks, and pays all rewards in HNT. Holders can swap MOBILE and IOT for HNT through network treasuries. It also ended the HNT share for Nova Labs’ early investors and employees. HIP 149, approved in July 2026, mints about 141 million extra HNT over 36 months into a Nova Labs vault for operations and growth, overseen by a community council.
Where Can I Buy Helium (HNT)?
Bybit – This exchange is known for its derivatives and margin trading features, but you can also use the platform for spot trading.
KuCoin – KuCoin is a smaller exchange known for its competitive fees and support for many cryptocurrencies.
Coinbase – Coinbase is an American-based cryptocurrency exchange that allows you to buy cryptocurrencies using various payment methods, including bank transfers, debit cards, and wire transfers.
Is Helium (HNT) A Good Investment?
Pros
- Scalability – The Helium Network’s design facilitates scalability as more hotspots are added, potentially leading to broader coverage and a more powerful network.
- Real-World Applications – Helium’s focus on IoT connectivity has the potential to revolutionize various industries, such as supply chain management and asset tracking.
- DePIN Sector – The Helium Network allows users to earn HNT to provide data transfer services. This creates a new monetization opportunity for Hotspot owners and a sustainable economic model for the network.
Cons
- Emerging Technology – The Helium Network and its token, HNT, are still relatively new technologies. Their long-term viability and success depend on wider adoption and overcoming technical hurdles.
- Competition – While Helium has a first-mover advantage in this space, established tech giants or other blockchain projects may develop competing solutions.
- Hardware Investment & Maintenance – Participating in the Helium Network by running a Hotspot requires upfront investment in hardware and ongoing maintenance.
- Regulatory History: The SEC sued Nova Labs in January 2025. The case ended on April 23, 2025, with a consent judgment: Nova Labs paid a $200,000 civil penalty without admitting or denying the allegations, and the court dismissed all other claims with prejudice.
Before You Buy HNT
Whether Helium (HNT) is a good investment depends on your risk tolerance and goals. Remember, this guide only provides a starting point for your research. Always conduct your due diligence before making any investment decisions.
