Solana has integrated its network into the XDeFi and Trust Wallet platforms. This significant step is set to bring a lot of users and traction to the Solana network.
New Developments In The Solana Space
In a tweet by XDeFi, they congratulated Solana for the successful integration. They informed users that they could send, receive, store Solana tokens and NFT and connect to Dapps. Users were told to click on the Phantom wallet when connecting.
Trust wallet did not hesitate to also onboard Solana into their platform. They informed users that Trust Wallet now supports Solana Dapps.
A recent announcement informed the public of the migration of Helium Blockchain to the Solana network. The Helium blockchain has operated on its own since its launch.
However, users have complained about slow transaction speed on the platform. The team had to resolve this issue immediately to enable speedy activities on the platform. They vouched for Solana as a very scalable network with fast transaction speed.
The Helium team believes with the help of Solana’s resources they would solve this problem. This migration helps move the helium blockchain to improve its Blockchain performance. But will these developments affect Solana?
Will Solana Rise Again?
Solana has been in the bad books of the market due to its poor performance. There has been an 88.5% drop in market cap over the past few days. This has been a bad look for Solana.
It has received criticism from the crypto community about its underperformance. Low trading activities have seen investors moving their funds to other Blockchain. There has been volatility in the price, dropping below the $34 mark.
Amidst this, the team has further signed new partnerships with projects in the web3 space. A possibility that things may turn out well for Solana with these new developments.
The announcement by Helium to migrate to Solana might be a good boost for more activities on the network. Following these updates, there have been a lot of reactions on Solana social media platforms. These resulted from collaborations and new development in the space, e.g. the Solana Smartphone.
The Solana team is working on new updates as there has been spikes in the number of developments. Despite these factors boosting its network, traders are advised to move cautiously.