The Helium ecosystem is under pressure following Coinbase’s recent delisting of the deprecated Helium Mobile (MOBILE) token, sparking confusion, a spike in exchange transfers, and a sharp dip in token prices across the network.
HNT, IOT, and MOBILE All See Sell-Off
Helium’s native token HNT dropped over 5% on June 27, slipping below its key support level of $2.308, while the ecosystem’s IOT token also saw a similar decline. The downturn came on the heels of Coinbase’s June 26 announcement that it would delist several tokens, including the deprecated Solana-based MOBILE token, due to the release of newer versions that now meet the platform’s listing criteria.
Following the delisting news, MOBILE’s price fell to an intraday low of $0.00026 before recovering slightly to $0.00027 at press time still 87% lower than its December 2024 high of $0.0021.
Delisting Sparks Confusion
The confusion stems from Coinbase’s delay in auto-converting MOBILE to HNT, a process most other major exchanges had completed earlier this year after the HIP 13 upgrade. The Helium Improvement Proposal unified MOBILE and IOT tokens under the HNT umbrella to simplify the token structure and ecosystem governance.
While Helium had already deprecated the Solana-based MOBILE token in January 2025, Coinbase continued listing it leading to confusion among retail users when the sudden delisting was announced.
Derivatives and On-Chain Metrics Point Bearish
According to CoinGlass data, open interest in Helium Mobile futures dropped 16% in the past 24 hours, reflecting fading demand and potential short-term volatility. The long-short ratio also tilted bearish, suggesting that traders are increasingly betting on further price declines.
On-chain activity further reinforced this view. Wallets are sending more HNT tokens to centralized exchanges, a move often associated with sell-side pressure and liquidation risks.
Technically, the HNT/USDT daily chart shows the token breaking below its local support, entering a descending channel—a bearish pattern signaling continued downside momentum. The Supertrend indicator has flipped to “sell,” and the RSI has dropped to 42, both of which point to weakening buying strength.
If the trend persists, HNT may head toward the next major support at $2.00, a roughly 10% drop from its current price around $2.18.
Neymar Tease Offers Glimmer of Hope
Despite the bearish backdrop, Helium’s official channels recently teased a potential collaboration with Brazilian football legend Neymar. While details remain limited, such a high-profile partnership could generate renewed interest in the project and inject positive sentiment into the community.
Still, in the short term, the Helium ecosystem appears to be facing a tough stretch as investors react to the Coinbase delisting and unfavorable technical signals.
