Coinbase’s Support for Trading Boosts Rally of Solana Based Altcoin Project

Solana Based Altcoin Project Gains Momentum as Coinbase Announces Listing Support.

In exciting news for cryptocurrency enthusiasts, a promising altcoin project on the Solana (SOL) network is experiencing a significant rally. This surge comes on the heels of a recent announcement by Coinbase, one of the leading cryptocurrency exchanges in the United States. Coinbase has revealed its plans to list the digital asset, Helium (HNT), on its platform for trading.

Coinbase has provided details regarding this exciting development. They intend to initiate the listing of Helium (HNT) on the Solana network, once appropriate liquidity conditions are met. As per Coinbase’s announcement, the availability of transfers for this asset will be limited to regions where trading is supported on their platform. Trading for the HNT-USD trading pairs is expected to commence on or after 9 am PT on July 12, 2023, provided that the liquidity conditions are satisfied. It is important to note that certain jurisdictions may have restrictions on the support for HNT.

Since the announcement, Helium’s value has soared, reaching a peak of $1.48 on Wednesday. At the time of writing, the altcoin is trading at $1.44, marking a remarkable increase of over 21% from its 14-day low of $1.19.

Helium serves as a decentralized network for the Internet of Things (IoT). Its innovative infrastructure enables seamless communication and data sharing among IoT devices, thanks to its support for smart contracts and enterprise applications. Participants in the Helium network, including those who set up Helium hotspots, are rewarded with HNT tokens.

With its focus on providing more efficient and cost-effective wireless coverage for IoT devices compared to traditional networks, Helium has gained significant attention. Coinbase recognizes the potential of Helium and has classified it under their “Experimental Label,” a category reserved for tokens with lower liquidity and higher risk.

In summary, the Solana-based altcoin project has witnessed an impressive surge following Coinbase’s announcement of listing support for Helium (HNT). This development brings new opportunities for traders and investors while highlighting the remarkable capabilities of Helium’s IoT network in revolutionizing wireless connectivity.

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Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.

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