TLDR
- HNT price 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 highest 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) jumped 88% on August 29, 2026, pushing the token to $0.42. Trading volumes exploded by over 1,183% to $38.3 million, according to CoinMarketCap data.
The move puts HNT among the top seven biggest gainers in the crypto market for the day. It is also one of the most actively traded coins in today’s session.
The all-time low of $0.1672 was set just fifteen days ago. That makes today’s move a sharp reversal from a prolonged downtrend.
What Sparked the Move
The main catalyst is the adoption of the Helium Network by Celina, Texas. Celina is a fast-growing suburb that expanded 25% in a single year, putting pressure on 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
The city 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.
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 moved from $0.21 to $0.43 within hours, short sellers entered the market betting the rally would fade. That crowded the short side quickly.
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. The ADX line is rising, pointing to a strengthening uptrend.
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.
