The price of Helium's native token, HNT, has surged dramatically, trading at $1.52 as of writing, marking a 31% gain in the last 24 hours and an increase of over 90% in the past seven days. This rally places HNT among the top crypto gainers for the day, starkly contrasting with the broader market where most major coins are posting losses.
The surge is attributed to a renewed spotlight on the Decentralized Physical Infrastructure Networks (DePIN) sector. Helium, which builds decentralized wireless networks for IoT devices, is seen as a prime example. Individuals operate hotspots to earn HNT for providing connectivity, a model addressing infrastructure gaps. Social engagement for Helium has climbed over 85%, signaling growing retail and community interest.
This narrative was bolstered by Messari's "State of DePIN 2025" report, which valued the entire DePIN sector at $10 billion and recorded $72 million in on-chain revenue. The report highlighted Helium specifically, noting its on-chain revenue surged 800% year-over-year even as its token price fell sharply during the same period, indicating strengthening network fundamentals.
From a technical perspective, HNT rebounded sharply from regression channel lows near $0.75, pushing into the $1.40 supply zone. The token now tests the upper boundary of a descending regression trend channel that has guided its broader decline since mid-2025, with stronger horizontal resistance at $1.80. While technical indicators like the MACD show strengthening bullish energy, underlying market data reveals tension. The 90-day Spot Taker CVD still reflects taker sell dominance, creating a divergence between rising price and persistent sell-side flow.
Market participation has expanded, with Open Interest increasing 22.83% to $4.40 million, signaling traders are opening fresh positions. Helium's market cap stands near $282 million, with approximately 186.32 million HNT (83.5% of the max 223 million supply) in circulation. However, long-term price forecasts present a cautious outlook, with one model projecting a potential decline to $1.06 by the end of 2026 and $0.5105 by 2030.
A note of uncertainty was introduced by the recent news that Kyle Samani, co-founder of early Helium backer Multicoin Capital, stepped down from his operational role this month, though he stated he will continue investing personally.
