Erik Weijers, a month ago

Solana doing well after Helium and Saga news

Solana is up 12% today, whereas most of the market is flat. A potential reason for the price pump is that Helium network has announced it will migrate to Solana. It is another sign that Solana, however battered and bruised, is still alive. Also, Solana's mobile's phone Saga is rumored to launch next week. 

On March 27th, the Helium Network is officially migrating to Solana. Helium Network currently has its own blockchain. The reason they cite for migrating is that they no longer want to divide their attention between maintaining their own blockchain and growing their decentralized wireless network. By moving to Solana, they can benefit part of a big number of developers and applications.

Mobile phone Saga launch

The fact that Solana is consumer-minded will no doubt help Helium. Solana will launch an Android smartphone, called Saga. It is rumored to launch next week. It will be a phone that will make it easy to transact in web3, trade tokens, mint NFTs, gaming on-chain, etcetera. No doubt, potential Helium apps will do nicely on this phone. 

What is the Helium Network?

Launched in July 2019, Helium is a decentralized network of large-range wireless hotspots. Its goal is to create a network for Internet of Things devices. As connecting everything to the internet creates privacy concerns, Helium steps in with a decentralized version. The Helium community has onboarded nearly 1 million hotspots. The people who run these hotspots get paid out in Helium's token HNT.

Solana's comeback from the brink

There are more and more signs that Solana hasn't lost its credibility and will pull through the bear market. The launch of Saga and their partnership with Helium Network is good news for Solana. In the latest bear market crash, Solana suffered from its connections with FTX's CEO Sam Bankman-Fried, an early investor in Solana. 

The network also had a reputation for often crashing - even though crashing servers can be framed as a good sign. Remember how often Twitter was down in the early days, when it was gaining traction? Smoking servers show that people are actually using your platform!

Solana's price bottomed in December 2022, down to below $9, having fallen all the way from $250 at its peak in the fall of 2021. Currently, SOL trades around $26.


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