cryptoslate.com
Solana (SOL) experienced a surge in price following an announcement that Helium (HNT) would be migrating towards the platform beginning Mar. 27.
In a blog post from Feb., Helium announced the move.
“The Network migration to the Solana blockchain and deployment of Oracles represents the most significant upgrade to Helium Network scalability and reliability.”
Helium’s decentralized network of hotspots totals almost one million as of Feb. 2023.
News of the migration date sent the price of both tokens up last week. Following the news, Solana’s value has seen an over 21% surge — to a high of $27.11 on Feb. 17, from $22.34 on Feb. 16.
Currently, SOL is worth $26.15 and Helium is trading for $3.15 at the time of writing.
Helium is a network that focuses on creating an internet of things (IoT) powered by physical hotspots, with HNT tokens used to reward participants for validating coverage and providing wireless hotspots.
The migration of Helium from its current layer-1 (L1) solution to the Solana platform was recently announced by the Solana network — with the transition set to take place at the end of March.
With nearly one million hotspots worldwide across long range and 5G networks, the move is expected to help Helium’s community to focus on expanding decentralized wireless networks.
In a recent blog post, Helium encouraged its users to prepare for the transition, stating that the migration to the Solana ecosystem will allow its community to focus on building wireless protocols and enabling utility on these networks.
Once completed, HNT will become natively compatible with other platforms within Solana’s ecosystem, adding utility for HNT, MOBILE, and IoT token holders.