Helium Network [HNT] announced that its migration to the Solana [SOL] network would start on March 27 in a blog post dated February 17th. As a result, the press time state of the Helium Network as well as all wallets and Hotspots will be updated. About 1500 UTC / 10:00 AM ET on that day, a 24-hour period of transition time will start.
The move to Solana was made feasible by the community's success with HIP-70 in 2022 and the development of other solutions for Helium network scalability. In addition, switching to the Solana blockchain frees up a lot of resources for scaling by transferring Proof-of-Coverage and Data Transfer processing to Oracles.
HNT on a Daily Basis
The price fluctuation of HNT shows that there was a significant reaction to the most recent message. At the end of trading on February 17, the token's value had risen by 10.78%. This was the third-highest growth of the year and the second-highest growth in February overall. It was selling for about $2.80 at the time of writing, up roughly 0.5%.
The brief Moving Average (yellow line), which was apparent beneath the price volatility, provided support for the token. At the time this article was written, the support was close to $2.5. The lengthy Moving Average (blue line) served as resistance when prices were close to $3.8.
The volume of the price, however, behaved differently. The Santiment volume data indicates that there hasn't been a big increase in the metric. The volume, which was 5.91 million at the time of publication, had been low for a while.
HNT's utility will increase after the conversion is complete because it will be natively compatible with more platforms within the Solana ecosystem. Would this exposure, though, raise the token's volume and, in turn, its price? Time will only tell.