- Helium Network has proposed 27 March for its migration to the Solana community.
- The HNT token, alongside different belongings, may even migrate to the brand new community.
In a weblog submit dated 17 February, Helium Network [HNT] revealed that its migration to the Solana [SOL] community would start on 27 March. As a end result, all wallets, Hotspots, and the press time state of the Helium Network might be up to date. A 24-hour interval of changeover time will start at round 1500 UTC / 10:00 AM ET on that day.
Read Helium Network’s [HNT] Price Prediction 2023-24
The neighborhood’s success with HIP-70 in 2022 and the introduction of many options to Helium community scalability made the transition to Solana doable. In addition, shifting Proof-of-Coverage and Data Transfer processing to Oracles, with the change to the Solana blockchain, frees up vital assets for scaling.
How did its native token, HNT, react to the information?
HNT on a every day timeframe
There was a powerful response to the newest assertion, as evidenced by the value motion of HNT. As of 17 February, on the shut of buying and selling, the token had elevated in worth by 10.78%. This was the second-highest development in February total and the third-highest development within the yr. At the time of writing, it bought at about $2.80, up about 0.5%.
Source: Trading View
The token had help from the brief Moving Average (yellow line), which was seen beneath the value fluctuation. As of the time of writing, the help was round $2.5. With costs close to $3.8, the lengthy Moving Average (blue line) acted as resistance.
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However, the quantity of the value reacted in another way. According to the Santiment’s quantity statistic, there hasn’t been a big surge within the metric. The quantity has been low for a while, sitting at 5.91 million at press time.
Source: Santiment
The accomplished migration will make HNT natively interoperable with extra platforms within the Solana ecosystem, thus increasing its utility. However, will this publicity enhance the quantity of the token and consequently its worth? Only time will inform.
