• Helium’s IOT token has surged 370% following its successful migration to the Solana blockchain.
• Kamino Finance has opened two vaults that allow users to stake their IOT and HNT tokens for a yield.
• The token currently has a fully diluted market capitalization of $495 million, with around 6 billion tokens in circulation.
Helium Migrates to Solana Blockchain
Helium recently migrated to the Solana blockchain, sparking a surge in its IOT token. This protocol token is mined from Helium’s hotspots – the hardware infrastructure behind the IOT network, and always backed by Helium Network’s HNT token.
Kamino Finance Vaults
Kamino Finance has opened two vaults that enable investors to stake their IOT and HNT tokens for a yield. With a maximum supply of 200 billion tokens, there are currently around six billion in circulation, according to Solana’s block explorer.
IOT Token Value
The value of IOT tokens have skyrocketed with this news; trading at $0.00248 each with a fully diluted market capitalization of $495 million – or approximately $15 million based on circulating supply.
Impact on HNT Token Price
The price of Helium Network’s HNT token slid to a two-month low after Binance.US announced it would be delisting it from its platform; however this news concerning the increased value of its protocol token serves as an important reminder of the potential held within the project itself.
In conclusion, Helium’s migration to Solana has had an overwhelmingly positive impact on its protocol token, spiking its value significantly since launch and opening up new opportunities for investors through Kamino Finance vaults.