{"id":520279,"date":"2023-02-20T17:00:42","date_gmt":"2023-02-20T17:00:42","guid":{"rendered":"https:\/\/ktsl888.com\/?p=520279"},"modified":"2023-02-20T13:27:21","modified_gmt":"2023-02-20T13:27:21","slug":"heres-the-reason-behind-solana-12-jump","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/solana\/heres-the-reason-behind-solana-12-jump\/","title":{"rendered":"Here\u2019s The Reason Behind Solana\u2019s (SOL) 12% Jump"},"content":{"rendered":"

Solana (SOL) saw a sudden 12% jump coming out of the weekend which sent the digital asset\u2019s price rocketing toward $30. This was obviously a welcome development for supporters of the cryptocurrency but what was behind this rapid surge in the price?<\/p>\n

Why Solana Pumped By 12%<\/h2>\n

On Monday, the Helium Network revealed that it will be migrating to the Solana blockchain. This news was corroborated by the official Solana Twitter handle, sparking a wave of positivity across the entire community.<\/p>\n

Related Reading: Why Ethereum Price Could Reach $1,800 Before The Rally Burns Out<\/a><\/div>\n

In the official blog post<\/a> shared by Helium, it said that the migration to the new Layer 1 blockchain would happen in a month on March 27th. It comes after the Solana community approved the HIP-70 which would allow the Helium network to scale on Solana.<\/p>\n

\u201cThe completion of the migration marks a new era for the Helium Network, enabling it to achieve greater scale and truly become a network of networks,\u201d Helium said in the blog post.<\/p>\n

Helium is already growing and is becoming a popular provider with almost 1 million hotspots, the company said. It also added that its move to Solana was brought about by the fact that the blockchain provided it the speed and scale it would need to operate on a blockchain while enabling utility.<\/p>\n

Helium Network News Spurs SOL Recovery<\/h2>\n

Solana\u2019s recovery over the weekend sent the price back to pre-FTX collapse levels to a local peak of just under $27. This recovery arguably puts SOL at a fair value where it would be if it wasn\u2019t for the FTX implosion. Now, SOL is now able to contend with competitors as it is seeing reasonable gains.\u00a0<\/span><\/p>\n

Related Reading: Bitcoin Price Gets Rejected At $25,000, But Is This The End?<\/a><\/div>\n

For the future bull case for the cryptocurrency, the rally was triggered by just Helium\u2019s announcement. The migration is yet to be completed, so there could be more recovery to be seen in the one month leading up to the official migration.<\/p>\n

Solana\u2019s market cap is now sitting at $9.9 billion which makes it the 11th largest cryptocurrency by market cap. It is also the best-performing coin of the top 15 cryptocurrencies by market cap in the last week, surpassing MATIC\u2019s 27% with weekly gains of 28.77%.<\/p>\n

At the time of writing, SOL is still holding steady above $26 after recording over 12% in the last day alone.<\/p>\n

\"Solana<\/p>\n

SOL price rallies above $26 | Source: SOLUSD on TradingView.com<\/a><\/pre>\n
Follow Best Owie on Twitter<\/a> for market insights, updates, and the occasional funny tweet\u2026 Featured image from Guarda Wallet, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Solana (SOL) saw a sudden 12% jump coming out of the weekend which sent the digital asset\u2019s price rocketing toward $30. This was obviously a welcome development for supporters of the cryptocurrency but what was behind this rapid surge in the price? Why Solana Pumped By 12% On Monday, the Helium Network revealed that it will be migrating to the Solana blockchain. This news was corroborated by the official Solana Twitter handle, sparking a wave of positivity across the entire community. Related Reading: Why Ethereum Price Could Reach $1,800 Before The Rally Burns Out In the official blog post shared by Helium, it said that the migration to the new Layer 1 blockchain would happen in a month on March 27th. It comes after the Solana community approved the HIP-70 which would allow the Helium network to scale on Solana. \u201cThe completion of the migration marks a new era for the Helium Network, enabling it to achieve greater scale and truly become a network of networks,\u201d Helium said in the blog post. Helium is already growing and is becoming a popular provider with almost 1 million hotspots, the company said. It also added that its move to Solana was brought about by the fact that the blockchain provided it the speed and scale it would need to operate on a blockchain while enabling utility. Helium Network News Spurs SOL Recovery Solana\u2019s recovery over the weekend sent the price back to pre-FTX collapse levels to a local peak of just under $27. This recovery arguably puts SOL at a fair value where it would be if it wasn\u2019t for the FTX implosion. Now, SOL is now able to contend with competitors as it is seeing reasonable gains.\u00a0 Related Reading: Bitcoin Price Gets Rejected At $25,000, But Is This The End? For the future bull case for the cryptocurrency, the rally was triggered by just Helium\u2019s announcement. The migration is yet to be completed, so there could be more recovery to be seen in the one month leading up to the official migration. Solana\u2019s market cap is now sitting at $9.9 billion which makes it the 11th largest cryptocurrency by market cap. It is also the best-performing coin of the top 15 cryptocurrencies by market cap in the last week, surpassing MATIC\u2019s 27% with weekly gains of 28.77%. At the time of writing, SOL is still holding steady above $26 after recording over 12% in the last day alone. SOL price rallies above $26 | Source: SOLUSD on TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet\u2026 Featured image from Guarda Wallet, chart from TradingView.com<\/p>\n","protected":false},"author":541,"featured_media":520285,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[84543],"tags":[86755,12837,86420,83626,86410,83627],"class_list":["post-520279","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-solana","tag-helium-network","tag-sol","tag-sol-price","tag-solana","tag-solusd","tag-solusdt"],"acf":[],"yoast_head":"\nHere\u2019s The Reason Behind Solana\u2019s (SOL) 12% Jump<\/title>\n<meta name=\"description\" content=\"Solana (SOL) saw a sudden 12% jump coming out of the weekend which sent the digital asset\u2019s price rocketing toward $30. 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With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity. When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world\u2019s most quiet and well-behaved Husky. Best\u2019s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well. As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers. Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best\u2019s prolific career in the media industry is a testament of how hard work and dedication pays.","sameAs":["https:\/\/www.linkedin.com\/in\/best-owie-41a150178\/","https:\/\/x.com\/https:\/\/twitter.com\/BestOwie"],"url":"https:\/\/ktsl888.com\/author\/owiebest\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Here\u2019s The Reason Behind Solana\u2019s (SOL) 12% Jump","url":"http:\/\/ktsl888.com\/news\/solana\/heres-the-reason-behind-solana-12-jump\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/solana\/heres-the-reason-behind-solana-12-jump\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/02\/Solana-SOL.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/02\/Solana-SOL.jpeg?fit=1200%2C675"},"articleSection":"Solana","author":[{"@type":"Person","name":"Best Owie"}],"creator":["Best Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["helium network","sol","sol price","solana","solusd","solusdt"],"dateCreated":"2023-02-20T17:00:42Z","datePublished":"2023-02-20T17:00:42Z","dateModified":"2023-02-20T17:00:42Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Here\\u2019s The Reason Behind Solana\\u2019s (SOL) 12% Jump\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/solana\\\/heres-the-reason-behind-solana-12-jump\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/solana\\\/heres-the-reason-behind-solana-12-jump\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/02\\\/Solana-SOL.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/02\\\/Solana-SOL.jpeg?fit=1200%2C675\"},\"articleSection\":\"Solana\",\"author\":[{\"@type\":\"Person\",\"name\":\"Best Owie\"}],\"creator\":[\"Best Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"helium network\",\"sol\",\"sol price\",\"solana\",\"solusd\",\"solusdt\"],\"dateCreated\":\"2023-02-20T17:00:42Z\",\"datePublished\":\"2023-02-20T17:00:42Z\",\"dateModified\":\"2023-02-20T17:00:42Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/02\/Solana-SOL.jpeg?fit=1200%2C675","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/520279"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/541"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=520279"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/520279\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/520285"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=520279"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=520279"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=520279"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}