Helium It is trading at $1.52 as of writingup 31% over the past 24 hours and more than 90% over the past seven days. The mutation puts HNT in between Top gainers in crypto today While most major currencies are recording losses and trading in the red zone. With a market cap of close to $282 million and a rating of around 110, the low-cap token has suddenly gained attention.
Source: Coin Codex
The broader market context makes the rise even more pronounced. While large-cap assets are experiencing short-term pressures, HNT is rising with strong volume and increased participation.
Its all-time high is still far away at $55.17, recorded in November 2021, leaving the token roughly 97% down from peak levels. However, traders are now asking a simple question: What is driving this breakout?
DePIN’s novel regains the limelight
Recent coverage placed Helium among the low-cap cryptocurrencies with high potential for 2026. An analysis published on February 12 highlighted Helium’s role in building decentralized wireless networks for IoT devices. Individuals operate the hotspots and earn HNT for providing the connection. This model addresses infrastructure gaps and reduces dependence on traditional telecommunications service providers.
A renewed focus on real-world utilities has brought capital back into projects tied to decentralized physical infrastructure networks. or Deepin. Social engagement metrics support this trend. Helium’s social interactions rose by more than 85%, indicating growing retail and community interest.
source: X
Masari’s “State of DePIN 2025” report also added more fuel. The research firm valued the DePIN sector at $10 billion and recorded $72 million in onchain revenue. She singled out Helium as a prime example, noting that its on-chain revenue rose 800% year over year even as token prices fell sharply over the same period.
This divergence highlights strengthening network fundamentals despite previous price weakness.
Supply structure and network growth
Helium currently has 186.32 million HNT in circulation out of a maximum supply of 223 million. Approximately 83.5% of the total supply is already traded in the market. A high trading ratio often reduces uncertainty about future token emissions.
At the same time, the data indicates growth in active hotspots and increased data transmission across the network. Market participants often cite this expansion as evidence of real-world adoption. Increased infrastructure use can strengthen the long-term investment thesis.
However, not all recent developments are to the upside. Kyle Samani, co-founder of Multicoin Capital, stepped down from his operational role earlier this month. Multicoin supported Helium during its early stages. Although Samani has stated that he will continue to personally invest in cryptocurrencies, leadership changes at key backers could create strategic uncertainty.
Can the rally continue?
Price forecasting models provide more cautious long-term forecasts. CoinCodex Helium Projects It could trade around $1.06 by the end of 2026, which would represent a 29% decline from current levels. The same model estimates a potential decline to $0.5105 by 2030, which would mean a 65% decline from today’s price.
These expectations contrast sharply with current momentum. The diluted market value is approximately $332 million, while the direct market value is approximately $277 million. Traders are now watching whether volume and participation will remain high in the coming sessions.
Short-term rallies are often a test of conviction. Will DePIN’s enthusiasm translate into sustainable capital inflows, or will broader market weakness limit gains? The next few trading days may provide clarity. Currently, Helium is challenging the red market narrative and gaining attention as one of today’s leading companies.
