Overview
- Helium’s token HNT rallied about 88% on August 29, 2026, climbing to roughly $0.42 after Helium and Celina announced the municipal deployment.
- The city reused existing public Wi‑Fi to provide carrier offload and 100GB of daily data for residents without building new cell towers, a move Helium described in its blog post.
- Derivatives activity exploded with open interest rising roughly 556% to about $15 million, the weighted funding rate falling to -0.63%, and more than $125,000 in short positions liquidated in the largest single‑day short squeeze for HNT in 2026.
- Trading volumes surged into the tens of millions with exchange reported spikes exceeding 1,000%, and Bybit and LBank among the largest reported venues, reflecting extreme turnover and concentrated order flows.
- Technically the token broke a months-long descending channel and hit overbought readings (RSI near 85), leaving near-term resistance around $0.44 and support near $0.23 while questions remain about whether the move reflects repeatable network demand or short-term speculation.