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SOL to HNT Exchange: Important Aspects to Consider

Solana and Helium are both exciting crypto projects, although it seems the former enjoys a higher ranking. But that doesn’t have to mean anything, especially if you believe that HNT will be the next token that will have a big boom. 

If that’s the case, you are probably thinking –—is it now time to exchange SOL to HNT? Instead of rushing the trade, read the following considerations that reveal more about both tokens and blockchains. Once you have more info, it’ll be easy to decide whether to trade this pair!

Understanding Solana Blockchain

Solana has been in creators’ heads since 2017, but it took three years to officially launch the project. The idea is simple — allow creating decentralized apps for various purposes, while maximizing scalability and user-friendliness.

The main advantage that Solana uses is the combo of the proof-of-stake and the proof-of-history blockchain, and this hybrid approach optimizes security and scalability. Transaction times are fast, and that’s another reason why many put this network as the main Ethereum competitor.

SOL currently has a market cap set at $7.7 billion, which puts it among the ten best-ranked tokens in the market. The circulating token supply is 396,000,000 SOL, while the total supply is capped at 548.48 million.

Various Fees Involved

It used to be simpler when using SOL to pay for transaction gas fees. The network kept a fixed gas fee set at 0.000005 SOL for a long time, and it still exists. The difference is that you now have another fee, and this charge enables the network to consider some transactions as a priority.

The additional fee varies on the day, and it’s currently around 0.0000023 SOL. This enables faster execution times because such transactions will be prioritized.

Solana usually doesn’t have any deposit fees, while trading fees can be from 0.1% to 0.4% or higher, depending on the exchange. Withdrawal fees might not be applied but could also go to 0.004 or higher.

Helium Blockchain Overview

Helium focuses on enabling wireless devices to exchange and send data and communicate via its node network. Nodes are a type of Hotspot and a mixture of a mining device and a wireless gateway. People allow using their devices as Hotspots and earn HNT rewards for this service.

The project’s main goal is to ensure better preparation for communication in the Internet of Things in the future. Helium uses the proof-of-coverage consensus with the goal of letting nodes achieve consensus even with variable connection quality.

Helium’s market cap is around $213 million, and it’s among the 150 best-ranked currencies. The circulating supply is only at 64% of the maximum, as 143 million HNT tokens are in circulation, with 223 million being the maximum.

Various Fees Involved

If you are paying for a transaction on the Helium blockchain, you’ll need Data Credits. During a transaction on the chain, some HNT tokens are burnt, and that’s how we get DCs. The network implements the Implicit Burn feature, which is why you don’t provide actual DCs for these charges, at least in most cases. Instead, the system uses your Helium wallet and burns HNTs to pay for the transfer in DCs.

As for deposit, withdrawal, and trading fees, they vary on the exchange used. You’ll find that deposit charges usually don’t exist, while withdrawal fees could be from 0.01 to 0.2 HNT. 

The Future of the Assets

SOL is currently worth around $19.38, and the predictions are encouraging. It could reach $26 by the end of the year and continue growing to $54 in 2025. By 2030, SOL could be worth $328, although some more cautious predictors put its value at only around $100.

As for HNT, it’s now valued at $1.45. It will keep a steady growth in the coming years, exceeding $2, or maybe even $3, by the end of 2023. HNT might face tricky times and only maintain that value by 2025, but the following five years should be exciting. The investors predict it could be worth anywhere from $9 to $11 by 2030.

Conclusion

Solana is a blockchain that already gained loads of attention from crypto traders and the industry overall. However, nobody denies that Helium is an ambitious project that go large in the future, so going ahead with the SOL to HNT trade now might be a smart choice in the long run.

Don’t forget to assess other options before choosing the desired trade. You could read the BNB versus SOL comparison to learn more about Binance’s currency and how it compares to Solana. And remember, only go ahead with a trade if you are sure it’s the right move for your portfolio!

Alf Alferez
Alf Alferez
Dedicated writer with a strong track record of developing customer loyalty and managing general office operations. Enjoy being a part of a company where my skills and creative ideas will benefit the overall productivity of the organization. I have a strong desire to work in helping make the world a better place. Please reach out to me on alf@ecommercenext.org
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