- In between the potential move over Solana, Helium’s HNT lost value.
- It has dropped by 47% over the last month.
After the Helium (HNT) developer (devs) proposed a plan to move the network to Solana, it almost lost its value. Reportedly, HNT noted 32% down over the last week and 47% in recent 30 days.
As the core devs of crypto-powered wireless network proposed its movement from its own blockchain to Solana, HNT may reflect major changes. But as the price of HNT performs down it may be an indication that the users and investors stay away to fully onboard with the determined plan.
HNT Chart Analysis
The Solana migration governance proposal announced on Tuesday, HNT noted the down that is approximately 15%. As per the analysis by Coinmarketcap, HNT noted its thirty days lowest price at $4.64 USD on September 1, 2022.
The above chart shows the last thirty days’ price drop of HNT from August 3 to till date. However, the current price of HNT is $4.89 USD with 0.53% down in the last 24 hours.
While the leading cryptocurrencies Bitcoin (BTC) only noted the 1% down in recent 24 hours and around 7% in the last week. Additionally, Ethereum (ETH) noted the 1% up in the past 24 hours with less than 6% down in the recent week.
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As the HNT faced the harsh controversy in late July and early August, when a group of firms claimed that it has no official ties to decentralised wireless network, Helium. Over this, Nova Labs which represents Heliu founders stated that it would adopt a “more rigorous” process for the marketing of its brand partners.
A migration proposal is also line-up for September 12 for a community vote among the HNT token holders. While there is no timeline proposed for the migration.
Source: https://www.thecoinrepublic.com/2022/09/02/helium-proposed-move-to-solana-dropped-value-by-15/