Helium (HNT) has experienced a dramatic price surge, climbing 21.7% in the past 24 hours to reach $1.37, marking one of the strongest performances among mid-cap cryptocurrencies today.
The decentralized wireless network token posted a 24-hour high of $1.37 after bottoming at $1.12, representing a significant intraday price swing of 22.3%. Trading volume surged to $18.8 million, indicating heightened interest in the IoT-focused blockchain project.
Market Performance Snapshot
Helium’s market capitalization has expanded to $254.9 million, marking a single-day increase of $43.9 million or 20.8%. The token currently ranks #154 by market cap, with a fully diluted valuation of $305 million based on its maximum supply of 223 million tokens.
The rally extends Helium’s impressive 7-day performance to 67.2%, suggesting sustained momentum rather than a single-session pump. However, the token remains down 0.65% over the past 30 days, indicating recent volatility in the broader trend.
Technical Indicators
HNT’s price action shows strong hourly momentum with a 5.6% gain in the past hour alone. The token’s circulating supply stands at 186.3 million HNT, representing approximately 83.6% of the maximum supply.
Despite today’s gains, Helium remains 97.5% below its all-time high of $54.88 reached in November 2021 during the previous crypto bull market. Conversely, the token has gained over 1,100% from its all-time low of $0.113 recorded in April 2020.
Context and Significance
Helium operates a decentralized wireless network for IoT devices, with HNT serving as the native token for the ecosystem. The network allows individuals to deploy hotspots and earn rewards for providing wireless coverage.
The sudden price surge comes amid broader recovery in the cryptocurrency market, though Helium’s 21.7% gain significantly outpaces most major tokens. The elevated trading volume of $18.8 million suggests genuine buying pressure rather than low-liquidity manipulation.
What This Means for Traders
The combination of strong 24-hour gains, extended 7-day momentum, and increased volume presents both opportunities and risks. Traders should monitor key resistance levels near the $1.37 mark and watch for potential profit-taking after such a sharp rally.
With HNT still trading more than 97% below its all-time high, the token has significant room for recovery if broader market conditions remain favorable and the Helium network continues to expand its utility and adoption.
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About the Author: Ananya Melhotra
