Helium’s native token HNT posted one of the strongest gains in the crypto market on August 29, rising between 88% and nearly 100% to trade near $0.42. The move followed an announcement that Celina, Texas, had converted city-owned Wi-Fi infrastructure into carrier coverage powered by the Helium Network.

The deployment covers the Celina Public Library, the Ralph O’Dell Senior Center and participating downtown businesses. Phones connect automatically using credentials stored on SIM cards, with no app, password or manual setup required. The sites are already handling about 100 GB of data per day, with more locations scheduled to come online later this year.

Fastest-Growing U.S. City Turns to Existing Infrastructure

Celina, located north of Dallas, recorded the highest percentage growth of any U.S. city with more than 20,000 residents. Census Bureau estimates show the city added more than 12,700 residents in a single year, a 24.6% increase that outpaced absolute gains in larger cities such as Seattle and Houston.

Rapid expansion has outstripped traditional cellular infrastructure. New towers require lengthy permitting and multimillion-dollar capital outlays measured in years. Even when built, towers often struggle to deliver reliable indoor signal through modern building materials.

By enabling Helium carrier offload on Wi-Fi already operating across public buildings and commercial spots, the city avoided new construction costs while expanding coverage for residents and visitors.

Mario Di Dio, CEO of Helium, noted that when a city grows 25% in a year, connectivity demand does not wait for new towers. The company said Celina demonstrates a faster path in which existing municipal infrastructure can carry carrier traffic immediately. Celina joins earlier deployments in Redondo Beach, New Orleans and Sausalito. The broader Helium Network now spans more than 42,000 locations across the United States and serves more than 2.5 million people daily.

The automatic handoff relies in part on an earlier arrangement with AT&T that allows compatible devices to treat Helium Wi-Fi as cellular coverage.

Trading Activity and Market Reaction

The announcement, issued on August 28, triggered heavy buying overnight into Saturday. Spot trading volume rose more than 1,000% to the $38–44 million range, exceeding half the token’s approximate $79 million market capitalization at the time. HNT ranked among the day’s top performers.

Derivatives markets amplified the move. Futures volume climbed roughly 2,600% to about $50 million while open interest rose more than 500% to around $15 million. Weighted funding rates turned deeply negative at –0.63%, signaling aggressive short positioning. Short liquidations reached approximately $125,000, the largest single-day short squeeze for HNT in 2026.

Technical readings showed the token deep in overbought territory, with the daily Relative Strength Index near 85. Price pulled back after an intraday high near $0.44 as some traders locked in gains. HNT remains substantially lower than its 2021 peak of $54.88 and is still down more than 85% over the past 12 months despite the sharp rebound.

Market participants appeared to focus on the broader signal of real-world municipal adoption rather than the modest data volumes currently generated by the Celina sites.

Context for the Helium Network

Helium operates a decentralized wireless network that converts existing Wi-Fi access points into carrier-grade coverage through partnerships with major mobile operators. The model aims to fill coverage gaps in high-growth or dense areas without the capital intensity of traditional tower builds.

The Celina deployment is the latest in a series of city-level conversions and follows earlier carrier integrations that enable seamless device connectivity. Additional brownfield access points continue to be added across the United States, expanding the network’s footprint for both public and commercial use.

As of the latest data, HNT was trading near $0.42 after the surge, with elevated volume persisting into the weekend session.