Over the past seven days, the crypto asset solana has increased more than 23% against the U.S. dollar after the announcement that the Helium Network plans to migrate to the Solana blockchain on March 27. Helium Network’s native token, helium, has also risen, jumping 25% over the past week against the greenback.
The Helium Network, a chain dedicated to the internet of things (IoT), plans to migrate with the Solana blockchain network, according to a blog post published by the core devs. The Helium Foundation has scheduled a migration date after “months of meticulous planning and technical development,” according to the post. The Helium team said the upgrade will take place on March 27, 2023, at 10 a.m. ET.
Helium developers say the upgrade will take place over a 24-hour transition and will affect all the network’s wallets, hotspots, and the network state. “The completion of the migration marks a new era for the Helium Network, enabling it to achieve greater scale and truly become a network of networks,” the blog post said. “The Helium community has onboarded nearly 1 million hotspots, and commercial demand for the network is becoming a larger focus.”
Both Solana (SOL) and Helium (HNT) tokens have seen a significant rise over the past week, with HNT leading the way. SOL has increased by 8.5% in the last 24 hours and 23% in the last seven days. On Feb. 20, 2023, HNT was up 7.3%, and during the past week, it climbed 25% higher. While SOL is the 12th-largest blockchain network in terms of market valuation, HNT was in the 117th position on Monday.
According to the Helium team, after the approval of HIP 70, core programmers have been developing programs for the Solana network, such as new “governance tools on Realms,” the implementation of PoC Oracles, the establishment of “Open LNS and Data Transfer Accounting Oracles,” and loading the Helium account state data to the Solana Devnet. Core developers from Helium further explained that a majority of HNT token holders and hotspot owners will “not need to take any action to participate in the upgrade.”
What are your thoughts on the Helium Network’s migration to the Solana blockchain? Let us know what you think about this subject in the comments section below.
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
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Over the past seven days, the crypto asset solana has increased more than 23% against the U.S. dollar after the announcement that the Helium Network plans to migrate to the Solana blockchain on March 27. Helium Network’s native token, helium, has also risen, jumping 25% over the past week against the greenback.
The Helium Network, a chain dedicated to the internet of things (IoT), plans to migrate with the Solana blockchain network, according to a blog post published by the core devs. The Helium Foundation has scheduled a migration date after “months of meticulous planning and technical development,” according to the post. The Helium team said the upgrade will take place on March 27, 2023, at 10 a.m. ET.
Helium developers say the upgrade will take place over a 24-hour transition and will affect all the network’s wallets, hotspots, and the network state. “The completion of the migration marks a new era for the Helium Network, enabling it to achieve greater scale and truly become a network of networks,” the blog post said. “The Helium community has onboarded nearly 1 million hotspots, and commercial demand for the network is becoming a larger focus.”
Both Solana (SOL) and Helium (HNT) tokens have seen a significant rise over the past week, with HNT leading the way. SOL has increased by 8.5% in the last 24 hours and 23% in the last seven days. On Feb. 20, 2023, HNT was up 7.3%, and during the past week, it climbed 25% higher. While SOL is the 12th-largest blockchain network in terms of market valuation, HNT was in the 117th position on Monday.
According to the Helium team, after the approval of HIP 70, core programmers have been developing programs for the Solana network, such as new “governance tools on Realms,” the implementation of PoC Oracles, the establishment of “Open LNS and Data Transfer Accounting Oracles,” and loading the Helium account state data to the Solana Devnet. Core developers from Helium further explained that a majority of HNT token holders and hotspot owners will “not need to take any action to participate in the upgrade.”
What are your thoughts on the Helium Network’s migration to the Solana blockchain? Let us know what you think about this subject in the comments section below.
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
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Last December, the renowned professional skateboarder Tony Hawk released his “Last Trick” non-fungible token (NFT) collection via the NFT marketplace Autograph. Next week, Hawk will be auctioning the skateboards he used during his last tricks, and each of the NFTs ... read more.
Solana rose by as much as 11% to start the week, as the token moved higher for a fourth consecutive session. Market sentiment has mostly been bullish in the past two weeks, leading to prices hitting a multi-month high on Monday. Bitcoin cash also surged, climbing to its strongest level since July.
Solana (SOL) rose by over 11% in Monday’s session, as the token raced to a multi-month high earlier in the day.
Following a low of $24.04 on Sunday, SOL/USD surged to an intraday peak of $26.93 to start the week.
As a result of this move, solana climbed to its highest level since November 8, when price hit a high of $31.78.
This is the fourth straight session that solana has risen, with prices breaking out of a key resistance level of $26.00 in the process.
In addition to this, the 14-day relative strength index (RSI) has moved beyond a ceiling of its own at 62.00.
Currently, the index is tracking at 63.58, and should it continue in this upward direction, SOL could hit $30.00 in the coming days.
Another notable gainer on Monday has been bitcoin cash (BCH), which also moved to its highest point in the past several months..
BCH/USD raced to a high of $146.83 earlier in the day, which comes after trading at a bottom of $134.55 on Sunday.
The rally took bitcoin cash to a point not seen since July 31, when the cryptocurrency traded above $150.00.
This comes as the 10-day (red) moving average nears a crossover with its 25-day (blue) counterpart.
Additionally, the RSI has also moved to a 16-day high, and is tracking at 65.85, which is near a ceiling of 66.00.
Should price strength pass this hurdle, then BCH bulls will likely recapture the $150.00 mark.
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What is behind today’s rally in bitcoin cash? Let us know your thoughts in the comments.
Eliman brings an eclectic point of view to market analysis. He was previously a brokerage director and online trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX, whilst also a startup founder.
Image Credits: Shutterstock, Pixabay, Wiki Commons, Dennis Diatel / Shutterstock.com
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
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