Solana Surges After Helium Network Announces Migration
Solana Surges After Helium Network Announces Migration.
Helium Network Migrates
Developers of the decentralized communications protocol, Helium Network, have recently announced that they have set March 27th as the date for its migration to the Solana blockchain.
This migration will see HNT, MOBILE and IOT tokens issued on the Solana network.
This move was made after a community vote back in September saw more than 81% of the of Helium community voting in favor of migration to the Solana blockchain. At the time, the developers had described the benefits of migrating to be improved mining as well as more reliable data transfer and ecosystem support.
“This upgrade will encompass all wallets, Hotspots, and Helium Network state, and will take place over a 24-hour transition period commencing at approximately 1500 UTC / 10:00 AM ET.” Helium’s team wrote.
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📢 ATTENTION!
The Helium Network is officially migrating to @solana on March 27th! Are you ready?
Ensure that you've migrated to the Helium Wallet app for a smooth transition. Keep Hotspots active and online to receive IOT tokens.More in this thread🧵👇 https://t.co/rzk2xcBEJ0
— Helium🎈 (@helium) February 17, 2023
Solana’s Surge
Following this announcement on Feb. 17, Solana has been seeing its community grow more bullish for the blockchain. According to data from CoinGecko, SOL saw it’s price surge by more than 20% over the past week.
SOL had even managed to touch a price of $26.96 at one point, the highest price the cryptocurrency has seen within the past 90 days, before retreating back to a price of $25.00 at the time of writing.
Solana has since reclaimed its spot as the 12th-largest cryptocurrency in market capitalization after having seen considerably low prices the past couple of months following FTX’s collapse in November.
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