Executives from the Helium Foundation, the non-profit behind decentralized hotspot blockchain Helium (HNT), are responding to crypto exchange Binance’s sudden delisting of the project’s native token.
Binance delisted HNT’s main trading pairs last week with no specific explanation.
In a statement to Forbes, Binance spokesperson Jessica Jung said,
“[Binance periodically reviews] each digital asset we list to ensure that it continues to meet a high level of standard. When a coin or token no longer meets this standard or there are changes in the industry, we conduct a more in-depth review and potentially delist it in order to protect our users.”
Scott Sigel, Helium Foundation’s COO, told Forbes,
“There is no basis for Binance to delist several HNT pairs. There has been no change to the integrity of HNT and it continues to meet all of the standards the exchange sets…
There are dozens of other exchanges that continue to support HNT. We hope Binance reverses course and re-lists the other HNT trading pairs soon.”
Helium is focused on building out a network for the internet of things (IOT) powered by physical hotspots. Helium is designed to allow IOT devices connected to the network to communicate and share data. The HNT token is used to reward participants that validate coverage and provide wireless hotspots.
Last month, Helium founders Nova Labs partnered with communications giant T-Mobile to roll out Helium Mobile, an expansion of the blockchain’s 5G network.
At time of writing, HNT is trading at $4.62, which is 91.6% down from it’s all time high of $54.88.
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inboxCheck Price Action
Follow us on X, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Tithi Luadthong/LongQuattro
