Key Points

HNT jumped 88% on August 29, 2026, trading near $0.42, with volumes up over 1,000%.

Celina, Texas converted its city-wide Wi-Fi into carrier coverage on the Helium Network.

The rally triggered a major short squeeze, with Helium's weighted funding rate dropping to -0.63%.

Over $125,000 in short liquidations were recorded — the largest single-day squeeze for HNT in 2026.

RSI hit 85, indicating overbought conditions, with resistance at $0.44 and support at $0.23.

Helium (HNT) rose 88% on August 29, 2026, pushing the token to $0.42. Trading volumes surged by more than 1,183% to $38.3 million, according to CoinMarketCap data.

The move placed HNT among the top seven biggest gainers in the crypto market for the day and made it one of the most actively traded coins in the session. Notably, HNT's all-time low of $0.1672 was set just fifteen days earlier, making this a sharp reversal from a prolonged downtrend.

What Sparked the Move

The main catalyst was the adoption of the Helium Network by Celina, Texas. Celina is a fast-growing suburb that expanded 25% in a single year, placing pressure on its existing cell tower infrastructure.

📡 The $HNT (Helium) token surged nearly 100% in 24 hours following an announcement in Texas 🚀 The pump occurred against the backdrop of news about the launch of the Helium Network in the city of Selina, Texas. The city converted its existing public Wi-Fi network into mobile… pic.twitter.com/MH8tH7Za8k

— Lórien (@Lorienss) August 29, 2026

Helium is a decentralized wireless network in which individuals and organizations deploy hotspots to provide coverage and earn HNT tokens, a model often grouped under the "decentralized physical infrastructure networks" (DePIN) sector. A municipal deployment therefore represents more than a routine partnership — it is the kind of real-world usage the project has pursued since pivoting its focus to cellular/IoT coverage, and a data point bulls have pointed to when arguing the network's utility thesis.

Celina converted its entire city-wide Wi-Fi system into carrier coverage on the Helium Network. Residents now receive 100GB of daily data without any new towers being built. For a city growing faster than its tower infrastructure can keep up, reusing existing Wi-Fi hardware to deliver carrier-grade coverage is the practical appeal of the arrangement.

Helium announced the news in a blog post, which quickly spread across crypto trading communities. Traders responded with heavy buy-side volume, pushing HNT sharply higher.

Short Squeeze Adds Fuel

As HNT climbed from $0.21 to $0.43 within hours, short sellers entered the market betting the rally would fade, quickly crowding the short side.

CoinGlass data shows Helium's weighted funding rate fell to -0.63%, meaning short sellers were paying elevated fees to hold their positions. Over $125,000 in short liquidations followed — the largest single-day squeeze for HNT in 2026.

Open interest rose 556% to $15 million, while trading volumes hit $50 million, up 2,600%.

Technical Picture

On the daily chart, HNT broke out of a descending channel that had capped prices since June. The 50-day EMA near $0.2257 now acts as support.

RSI sits at 85, deep in overbought territory, while the rising ADX line points to a strengthening trend. HNT has since pulled back slightly from its intraday high of $0.44 due to profit-taking.

Key resistance sits at $0.44, with the next target at $0.53 if that level breaks. Support is at the 61.8% Fibonacci level of $0.23. A close above $0.44 would strengthen the bullish case.

The top 10 HNT holders control 26.36% of supply. Bybit led exchange volume at $2.80 million over the past 24 hours, followed by LBank at $1.50 million. HNT's all-time high remains $55.22, set in 2021 — a reminder of how far the token has fallen from its 2021 peak, and why adoption news of this kind carries outsized weight for sentiment. Whether the Celina model attracts other fast-growing municipalities is the question likely to shape the next leg of the story.

Source: CoinCentral