Helium’s migration to Solana sends IOT token worth by means of the roof

• Helium efficiently migrated to Solana Community final week.
• Greater than six billion IOT tokens have been minted since Helium migrated to Solana.
• IOT Token surged by 370 earlier in the present day to hit a each day excessive of $0.003927.

Helium IOT (IOT) token shocked a majority of crypto buyers in the present day after surging by greater than 370%. Regardless of a slight retracement, the token was nonetheless inexperienced buying and selling at $0.00206, up 33.59% at press time.

Immediately’s IOT token worth surge is attributed to final week’s profitable Helium migration to Solana Community which has resulted in additional than six billion IOT to be minted.

Protocol token of Helium’s internet-of-things community

Most are conversant with Helium’s native token, HNT, which has additionally been performing fairly effectively over the previous few days after the migration.

Helium has one other token, the Helium IOT, which is the protocol token of Helium’s internet-of-things community. The Helium IOT is mined from Helium’s hotspots, which is the {hardware} infrastructure behind the IOT community.

Helium IOT is backed by the HNT token and might all the time be transformed to HNT, with the redemption fee being algorithmically set by its treasury swap sensible contract.

In keeping with knowledge from Solana’s block explorer, there are about six billion IOT tokens in circulation provide out of the utmost provide of 200 billion tokens.

The IOT token additionally obtained one other enhance after Solana-based decentralized-finance (DeFi) protocol Kamino Finance stated it had opened two Helium vaults to permit buyers to stake their IOT and HNT tokens for a yield.