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The US Securities and Exchange Commission (SEC) has dismissed its case against Nova Labs, the firm that owns the Helium Network, deeming that the project’s tokens are not securities. The move comes when Helium’s cryptocurrency (HNT) enjoys robust market performance, trading at around $2.92 with a 7% rise over the past 24 hours.

Nova Labs Pays $200,000 Fine

Nova Labs agreed to pay a $200,000 civil penalty to settle fraud claims without admitting fault, despite celebrating the regulatory victory, according to court filings. The SEC had alleged the company had misled institutional investors in a fundraising round in 2021 and 2022, when it raised $200 million at a valuation of $1 billion.

According to the SEC, Nova Labs exaggerated connections to big companies like Nestle and Salesforce. These were few in number and mostly occurred prior to Helium’s network going live in 2019. This company announcement about the SEC’s dismissal did not mention this financial settlement.

Today marks a major win for Helium and The People’s Network! The SEC has agreed to dismiss its unregistered securities claims with prejudice. Helium Hotspots and the distribution of HNT, MOBILE, and IOT through the Helium Network are not securities. It also means that the SEC… pic.twitter.com/vJSBAFht8T

— Helium🎈 (@helium) April 10, 2025

Landmark Decision Creates Precedent For DePIN Projects

“We can now definitely say that all compatible Helium Hotspots and the distribution of HNT, IOT, and MOBILE tokens on the Helium Network are not securities,” Helium said in an April 10 blog post. The company highlighted that the sale of hardware and token distribution for network expansion doesn’t necessarily qualify them as securities.

HNTUSD trading at $2.93 on the 24-hour chart: TradingView.com

This decision sets a significant precedent for Decentralized Physical Infrastructure Networks (DePIN), eradicating legal uncertainty for projects of the same kind that make use of cryptocurrency incentives to create physical infrastructure. The ruling signals a fundamental shift in regulatory philosophy.

Helium Network Remains In Strong Standing Despite Setbacks

The Helium Network has around 375,000 active hotspots globally. The blockchain network enables users to create and operate WiFi networks offering distributed wireless infrastructure for mobile and Internet of Things (IoT) devices.

Trump Administration Signals Shift In Crypto Regulation

The dismissal of the Helium case adds to what seems to be a string of SEC case dismissals during the Trump administration. The agency has allegedly dropped charges against a number of prominent cryptocurrency businesses such as Coinbase, Binance, and Uniswap since US President Donald Trump was sworn into office in January.

The termination timing coincides with Paul Atkins formally taking the place of Gary Gensler as chairman of the Securities and Exchange Commission following confirmation by the US Senate.

The enforcement action against Nova Labs was first filed in January 2025 and was one of the last enforcement actions started by the SEC under the now-former chairman Gensler before he resigned.

According to reports, Acting Chairman Mark Uyeda and Commissioner Hester Peirce made efforts to dismiss crypto enforcement cases amidst the transition from Gensler’s exit to Atkins’ confirmation.

While regarded as crypto-friendly, Atkins has said he intends to focus on creating a legal framework for digital assets.

Featured image from How To Justice, chart from TradingView

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Crypto analyst Egrag Crypto has predicted that the XRP price could rally to as high as $45 if it mirrors a bullish price movement from the 2017 bull run. The analyst also raised the possibility of the altcoin at least touching $19 if it replicates the 2021 price action.

XRP Price Could Rally To $45 If It Mirrors 2017 Bull Run

In an X post, Egrag Crypto predicted that the XRP price could rally to $45 if it mimics the 2017 cycle. He noted that in 2017, the price found heavy support at the 21 Exponential Moving Average (EMA) and experienced a last blow-off top.

This blow-off top led to a price surge of 2,700%, which the analyst believes could lead to XRP’s rally to $45 if the 2017 bull run repeats itself. Meanwhile, Egrag Crypto predicts the altcoin could at least touch $19 if a similar price movement like the 2021 bull run occurs.

He noted that in 2021, the price breached the 21 and 33 EMA and then pumped in a final leg that marked the cycle’s blow-off top. During this period, XRP surged by 1,050%, which the crypto analyst believes could lead to a rally to $19 if history repeats itself. The analyst added that his target has always been $27 and advised market participants to DCA if necessary.

In the short term, the XRP price looks to be eyeing a rally to $5. A CoinGape market analysis revealed that the Hidden Road acquisition may lead to $10 billion in volume to the XRP Ledger, which could push the altcoin to this target.

Meanwhile, XRP’s on-chain metrics also paint a bullish outlook for the altcoin, with the number of wallet addresses hitting a new all-time high (ATH) recently. This indicates that Ripple’s native crypto is enjoying wider adoption.

Ripple’s Native Crypto Has The Potential To Hit $1,000

Crypto analyst BarriC asserted that the XRP price could hit $1,000, although he admitted that it would “absolutely” take time. He claimed it will take a utility run and mass adoption to drive XRP to this price target.

The analyst added that it would also take a big shift in the financial space for the altcoin to reach this $1,000 level. Essentially, BarriC believes something massive has to happen for XRP to reach this target. However, once they do, he assured that there is no going back.

A CoinGape market analysis also once suggested that the XRP price could reach $1,000 if Michael Saylor swapped his $21 billion BTC for Ripple’s native crypto.

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Boluwatife Adeyemi

Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several topics and niches. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover, a traveler and a part-time degen.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.