Solana ($SOL) Soars As Helium Sets Migration Date; Here’s More

Solana Price: SOL started the week with a massive price surge. According to data from CoinMarketCap, the altcoin is now up by more than 10% in the past 24 hours and nearly 30% over the trailing seven-day period. This price surge is the result of positive investor sentiment following the recent migration announcement by the Helium network.

Helium Sets Migration Date

According to a blog post, the decentralized wireless communication network Helium will entirely shift to the Solana blockchain by March 27, during which time the current blockchain will be halted. While the migration will see HNT, MOBILE, and IOT issued on the Solana network, Proof-of-Coverage, and data transfer activities will remain unaffected. Helium made the announcement recently:

“ATTENTION! The Helium Network is officially migrating to @solana on March 27th! Are you ready? Ensure that you’ve migrated to the Helium Wallet app for a smooth transition. Keep Hotspots active and online to receive IOT tokens.”

The Solana team confirmed the news earlier today, revealing the migration will be completed at the end of Q1.

“The Helium network is migrating from its current L1 to Solana at the end of March, bringing with nearly 1 million hotspots worldwide across the LoRa and 5G networks”

According to the L1 network, After the migration, a new version of the Helium Wallet App will be made available.

Solana Price Rally Up to 10%

The SOL price is 9.93% up since yesterday, and current challenges the range resistance of $26.8. With a market capitalization of $9,961,436,626 and a 24-hour trading volume of up to 262.55%. Solana now stands at $1,752,108,504.

At the same time, the circulating supply is approximately 378,122,545 SOL as per the crypto market tracker CoinMarketCap. Interestingly, during the last seven days, it has increased by 27.93%, making it one of the best cryptocurrencies making a tremendous surge.

Also Read: Just-In: Solana Mobile Saga To Reportedly Launch Next Week

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