Key Takeaways:
Helium's HNT rose 88% to $0.42 on Aug. 29 after Celina, Texas, adopted the network for citywide coverage, with volume up 1,183%.
"Helium let us turn Wi-Fi we already own into coverage our residents' phones use automatically, without spending a dollar on new towers," Amy Alexander, director of information technology for the City of Celina, said.
The deployment covers the Celina Public Library, the Ralph O'Dell Senior Center, and downtown shops. The city built nothing new — Helium added a layer that lets phones treat existing hotspots as cell coverage using credentials already stored on SIM cards. AT&T signed on to the same Helium system in April 2025, enabling the automatic connection.
CoinGlass data shows Helium's weighted funding rate dropped to -0.63%, indicating heavy short positioning. Short liquidations reached $125,000, the largest single-day squeeze for the altcoin in 2026. Derivatives volume climbed 2,600% to $50 million, while open interest rose 556% to $15 million.
The rally follows a move from $0.21 to $0.43 within hours, with traders opening short positions betting the gains would not last. The overcrowded short market then fueled the squeeze as prices continued higher. HNT ranks among the top seven gainers in the crypto market today, with weekend liquidity driving outsized price swings.
Celina, located north of Dallas, added 12,710 residents in a year and grew 24.6%, the fastest of any US city with more than 20,000 residents. The Helium network now supports connectivity for businesses and public places across the city, expanding the project's real-world footprint beyond its earlier AT&T integration.
On the daily chart, HNT's RSI reads 85, placing the token deep in overbought territory, while a rising ADX line confirms strengthening trend momentum. The token has pulled back from its intraday high of $0.44 on profit-taking. A sustained close above that resistance could open the path to the 327.2% Fibonacci extension at $0.53. If selling pressure accelerates, HNT could retreat to the 61.8% Fib support at $0.23.
Despite the 88% single-day gain, HNT remains down 85.6% over 12 months and far below its 2021 peak of $54.88. The token's market value stands near $79 million, with roughly $44 million changing hands in a day — more than half the total market cap. Bitcoin's move above $80,000 provided a supportive backdrop for the broader crypto market.
The Celina deployment demonstrates a path for municipal WiFi networks to generate carrier-grade coverage without new infrastructure spending. Whether other cities follow could determine whether HNT's rally has staying power or fades as quickly as it arrived.
This article is for informational purposes only and does not constitute investment advice.
