The Helium Foundation has announced that it has proposed plans for March 27th to be the date of the migration of the Helium Network to Solana (SOL). The foundation added that it had formed an Upgrade Readiness Working Group to ensure a smooth transition. The working group will be comprised of community volunteers and will have the final say on the migration date.
The migration is the result of a community vote on HIP-70 that proposed a move to Solana to increase the efficiencies of the Helium network and allow its core developers to focus more on scaling the network rather than maintaining its chain.
The Helium Network Migration to Solana Will be a 24-Hour Event
The Helium Foundation added that the migration would be a 24-hour event, with the chain being halted during the process. They explained:
This upgrade will encompass all wallets, Hotspots, and Helium Network state, and will take place over a 24-hour transition period commencing at approximately 1500 UTC / 10:00 AM ET. A full breakdown of what to expect is outlined below.
The current Helium blockchain will be halted during a 24-hour transition period on the proposed March 27th date. Data Transfer and Proof-of-Coverage activity will be unaffected.
Solana Could Break Past $28
The Helium Network migration to Solana is a significant event and might cause the bullish sentiment surrounding SOL to increase. The one-day SOL/USDT chart below, courtesy of Tradingview.com, shows that Solana is at the cusp of breaking the $26.80 resistance level that should open the doors to $28.
In addition, Solana (SOL) is in bullish territory, trading above the 50-day (white), 100-day (yellow) and 200-day (green) moving averages. The 50-day also looks set to cross the 200-day moving average in a golden cross sometime in early March, hinting that a breakout above $28 is possible.
Furthermore, Solana’s daily MFI (green), MACD and RSI (red) are yet to show signs of weakness, adding to the possibility of a push to higher levels beyond $28 if Bitcoin can remain stable in the crypto markets.
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