Solana Records 12% Spike Following Helium Network Migration On-Chain

Solana (SOL) experienced a 12% jump in price, reaching $30 over the weekend. This price rise has delighted supporters of the cryptocurrency, who are curious to know what is behind this sudden surge.

Helium Network’s Migration to Solana

The Helium Network’s migration to the Solana blockchain was the main reason for the price surge. Helium Network’s official blog post announced that the migration would take place on March 27th, following the approval of HIP-70 by the Solana community. The migration would enable the Helium Network to achieve greater scale and become a network of networks.

Helium chose to move to Solana because the blockchain provided the speed and scale it needed to operate on a blockchain while enabling utility. With almost 1 million hotspots, Helium is already growing and becoming a popular provider.

Solana’s recovery over the weekend sent the price back to pre-FTX collapse levels, reaching a local peak of just under $27. The recovery puts SOL at a fair value, where it would be if it weren’t for the FTX implosion. SOL is now able to compete with competitors because it is making reasonable gains.

Helium Network News Spurs SOL Recovery

The rally was triggered by Helium’s announcement, and the migration is yet to be completed, so there could be more recovery leading up to the official migration. The Solana community welcomed Helium Network to their blockchain, creating a wave of positivity across the entire community.

Solana has shown great promise and has become a force to be reckoned with in the cryptocurrency space. The news of Helium Network’s migration is only the beginning of what is set to be a bright future for digital assets. As more networks join the Solana blockchain, it will continue to gain popularity and market share.

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