- Helium Networks proposed March 27 for migration to Solana Network.
- The HNT token, along with other assets, will also be transferred to the new network.
one in blog post Dated February 17, Helium Net (HNT) found that for their migration Solana (SUN) The network will start from March 27. As a result, all the functions of Wallet, Hotspot and Press Time Helium network status will be updated. The 24-hour transition period will begin that day at approximately 1500 UTC / 10:00 AM ET.
Reading Helium Net (HNT) Price Prediction 2023-24
Community success with HIP-70 and launch of multiple solutions in 2022 helium The scalability of the network made the transformation at Solana possible. Additionally, moving proof of coverage and data transfer processing to Oracles, along with the move to the Solana blockchain, frees up significant resources for scaling.
How did your native token, HNT, react to the news?
HNT in daily time frame
There was a strong reaction to the latest statement, as evidenced by the HNT price movement. As of February 17, at the end of trading, the token had gained 10.78% in value. This was the second largest increase overall in February and the third largest for the year. At the time of writing, it was trading at around $2.80, an increase of around 0.5%.
The token was supported by the short moving average (yellow line), which was visible below the price movement. At the time of writing, support is around $2.5. With the price near $3.8, the longer moving average (blue line) acts as a resistance.
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However, the price volume reacted differently. According to Sentiment’s volume stat, there hasn’t been a significant jump in the metric. Volume has been low for a while, at 5.91 million at press time.
The full migration will make HNT natively interoperable with additional platforms in the Solana ecosystem, thus expanding its utility. However, will this exposure increase the amount of the token and consequently its value? only time will tell.