State of Helium Q4 2025

Helium Network reported strong Q4 2025 growth with carrier offloading volume surging 60.7% QoQ to 4,388 TB and daily users reaching 2.5 million peak, driving record monthly revenue of $1.9 million in December. Despite robust network fundamentals across all utilization metrics, HNT's market cap declined 43.9% QoQ to $254.7 million, tracking broader crypto market weakness rather than network performance.