Helium (HNT): Binance Delisting and Solana Migration Cause Price Dip
Binance, one of the largest cryptocurrency exchanges, has announced that it will be delisting and ceasing trading for Helium Token (HNT) following its periodic review.
Binance stated that it delists a coin or token when it no longer adheres to its standards or when the market conditions change in order to safeguard consumers.
The delisting announcement comes ahead of Helium’s migration to Solana, a high-performance blockchain. Helium Network had scheduled the migration to Solana for March 27.
Still, it has been pushed back to April 18 to allow for community readiness, required governance votes, extra testing, and operational enhancements.
Binance will remove the HNT/BUSD trading pair and stop accepting HNT deposits on March 25. Withdrawals will be facilitated in two phases. Binance has planned to accept all requests before the migration to Solana.
The news of Binance’s delisting has taken a toll on Helium’s price, with the token losing over 18% of its value in the last day. HNT reached an all-time high in 2021, just above $53, but has since fallen by nearly 97%.
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HNT is currently trading around $1.61, which is a two-month low.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
