Latest Helium Mobile News

The U.S. Securities and Exchange Commission (SEC) has initiated a lawsuit against Nova Labs, the creator of the Helium Network, claiming that the company sold unregistered securities and misled investors regarding its partnerships with prominent firms. The lawsuit specifically targets three tokens associated with Helium: the Helium Network Token (HNT), Helium Mobile Token (MOBILE), and Helium IoT Network Token (IoT). According to the SEC, these tokens were marketed as securities without proper registration, violating federal laws. The SEC is seeking financial penalties and a prohibition on Nova Labs from engaging in the purchase or sale of crypto assets classified as securities. In addition to the allegations regarding unregistered securities, the SEC accuses Nova Labs of exaggerating its partnerships with major corporations such as Nestlé, Lime, and Salesforce. The lawsuit claims that these companies were misrepresented as active users of the Helium network, leading to cease-and-desist letters from Nestlé and Lime when they discovered the misleading claims. The SEC's filing suggests that Nova Labs executives were aware of the falsehoods, with internal communications indicating disbelief that Nestlé had not challenged them sooner. This raises serious questions about the integrity of the company's business practices. In response to the lawsuit, Helium founder Amir Haleem criticized the SEC's actions on social media, describing the lawsuit as a desperate attempt to undermine crypto companies in the U.S. Haleem argued that if Helium hotspots are deemed securities, it could jeopardize all decentralized physical infrastructure networks (DePINs). He emphasized that Helium had clarified its position with the companies involved and expressed determination to contest the SEC's claims, framing the case as a crucial moment for the future of decentralized networks.

In recent weeks, Helium Mobile has seen a remarkable price increase of nearly 125%, reaching $0.0022 on December 1st. However, in the last 24 hours, the token has experienced a slight decline of approximately 1.5%, bringing its current trading price to $0.00134. Helium Mobile, which launched in December 2023, is a decentralized mobile network service that integrates the Helium Network's peer-to-peer infrastructure with the Solana blockchain and partners with T-Mobile for 5G connectivity. The token serves as the network's built-in cryptocurrency, incentivizing users to deploy personal 5G hotspots that enhance the network's infrastructure. The primary function of Helium Mobile's token is to reward users who contribute to the network by setting up hotspots, which act as localized cell towers. Participants earn MOBILE tokens that can be used within the Helium ecosystem or traded externally. The token supports various applications, including decentralized connectivity solutions for IoT devices, package tracking, drone navigation, and lost pet recovery. As more users join the network, its strength and community-driven nature grow, fostering a robust decentralized mobile infrastructure. Looking ahead, analysts have varying predictions for Helium Mobile's price trajectory. CoinCodex suggests a potential surge of over 236%, with the token possibly reaching $0.004574 by January 2025. DigitalCoinPrice anticipates that MOBILE could surpass its previous high, projecting a price range between $0.00287 and $0.00299 by the end of 2024. However, Wallet Investor offers a more conservative outlook, estimating a maximum price of $0.00183 by December's end. For 2025, predictions range from $0.000226 to $0.00356, while by 2030, estimates suggest MOBILE could trade between $0.003684 and $0.0123. Despite the optimistic outlook, potential investors should remain cautious, as the cryptocurrency market is inherently volatile.