BlocksInform
The native helium token has been inflated in price year-to-date. According to CoinGecko, the token is up more than 36% in the past week. This means that the token is ready for more winnings in the days or weeks ahead as helium fuses with the solana blockchain.
According to Helium’s tweet back on December 16th, the two blockchains will merge in the 1st quarter of this year. Is this still going to happen after the merger?
The Merge & External Developments On Helium
The Helium-Solana consolidation event is not only the marked thing for investors and merchants to look at. Nova Labs, formerly known as Helium, and T-Mobile announced a partnership back on September 20 last year.
Helium is migrating onto the @Solana blockchain ~Q1 2023. Did you know @Helium Hotspots will each be represented by an NFT on Solana—creating almost 1 million new Solana NFTs during the Helium #MintORama?
In case you missed our transition session on Dec. 1st, here’s a recap. ?? ??
— Fondation Helium (@HeliumFndn) December 15, 2022
According to the press release, the partnership would make it possible for Helium Network users to use the T-Mobile 5G network in addition to Helium's native 5G network. This would make it possible for users to join the mobile rewards system.
This system rewards users who share data on the location of helium dead points in the United States, helping them to save on cellular data plans. The Rewards beta will be released to the public in Q1 of this year.
Image: Securities.io
Helium and Solana’s merge event will also happen at the same timeframe. The upgrade would allow the ecosystem to give more back to the owners of access points because 2 million tonnes would be allocated each year for rewards.
This would also make the array faster and more reliable as the helium coverage evidence system hardens.
What does this have to do with hnt?
As of the writing date, the token has faced a $3.4 rejection with the bears trying to hit the support line at $2.8. The first months of this year might put in place hnt for larger summits as the reward system and the fusion of solane and helium occurs almost simultaneously.
With the $2.9 token price, hnt should face short- and medium-term challenges as volatility enters the market. If the current token support is broken, it may be difficult for investors and traders to get back to its current price level.
Crypto total market cap at $932 million on the daily chart | Chart: TradingView.comHowever, with the onset of its merge with Solana and the rewards system public beta launch, we might see less pain in the medium to long term. Investors and traders should also look at the strong correlation of the token with Bitcoin, as it might influence hnt price strongly.
For now, investors and traders are safe because this rejection could be quickly handled with an external bullish outlook.
Picture in the spotlight: Crestline.
