HNT: AZ for everything you need to know about developments within the Helium ecosystem

  • HNT is ranked as the #1 altcoin on LunarCrush’s AltRank.
  • Major upgrades coming to Helium once it completes its migration to Solana.

helium [HNT] It ranked first in the ranking of altcoins overtaking Bitcoin [BTC] On December 22, data from LunarCrush show up.

The cryptocurrency social analytics platform has an AltRank feature through which it tracks the social and market activity of 4051 coins and how they are outperforming the leading BTC coins.

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Registering its position as the altcoin that has overtaken BTC the most in terms of social activity and market, out of all 4,051 tracked digital currencies, HNT’s social volume ranks 58th and has a social score of 64.

Despite the increased social activity, HNT has not seen any price increase in the past month. for every CoinMarketCapHNT has fallen by 24% in the last 30 days. In fact, in the last 24 hours, the price of HNT has fallen by 11%, consolidating its position as the cryptocurrency that has fallen the most in the past 24 hours.

With very volatile price action, HNT’s open interest assessment revealed that the rally was mostly followed by bearish conviction.

According to data from Coinglass, HNT’s open interest fell sharply by 86% between September 29 and December 21. During this period, the price of light panels fell by 64%.

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However, a positive shift in investor sentiment over the past few days has pushed open interest to its highest level since Oct. 6.

Source: Coinglass

Helium plans as it migrates to Solana

In preparation for the eventual transition to Solana in the first quarter of 2023, the Helium Foundation is holding transition ask-me-anything (AMA) sessions with community members to develop its plans for when Helium is deployed to Solana.

in another one AMA sessionThe Helium Foundation has confirmed four major upgrades that Helium users will benefit from in the coming year.

It stated that prior to migrating to Solana, its core development team built the complex infrastructure for equity multipliers, and delegated it to subsidiary organizations of the Helium chain and services to support its smart contracts.

In addition, a new governance token known as veHNT-escrowed HNT (veHNT) will be launched to “drive helium governance.” According to the Helium Foundation, “veHNT is not a token but represents voting rights” and can be delegated to Helium subsidiary organizations.

To vote for Helium, users must share their HNT tokens. The commitment period determines the multiplier effect on voting power. The Helium Foundation confirmed that “after migrating to Solana, anyone who bets within the first 7 days will receive an additional multiplier of 3x HNT for their original stake.”

Finally, Helium Wallet users can use the same code for token migration and hotspot on the network.

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