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Binance.US delists Helium [HNT], possibly over migration to Solana

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  • Binance.US to delist Helium (HNT) and JasmyCoin (JASMY) after “in-depth review”
  • Decision to delist the HNT trading pairs seems to be based on Helium’s migration to Solana

Binance.US, the United States-based unit of the cryptocurrency exchange Binance, has decided to delist Helium (HNT) as well as JasmyCoin (JASMY) tokens from its platform. The aforementioned tokens won’t be accessible on Binance.US, beginning 21 March. The platform claimed that it made the decision after a thorough evaluation of all current assets.

In a statement, Binance.US said that it has taken the decision after an in-depth review of existing assets. Accordingly, the aforementioned tokens would not be available on the platform from 21 March.

Binance.US’s decision to delist the HNT trading pairs seems to be based on Helium’s migration to Solana.

Soon after, the Helium Foundation responded, stating that despite their extreme disappointment with Binance.US’s decision, they will continue to communicate with the exchange. This, in an effort to inform them of the network’s primary goals and future growth plans.

Additionally, the Helium team will be encouraging users to think about regaining control of their HNT by using the free, open-source Helium Wallet app. As an alternative, users will also be encouraged to switch to one of the more than 20 places that still support HNT trading pairs.

In fact, Helium stressed its commitment to the switch to Solana, claiming that it will dramatically accelerate network usefulness. This migration will also help focus more resources on achieving the objective of a cost-effective communication layer for all users and gadgets.

Additionally, the Helium app will support native subDAO token redemption, as well as other integrations within Solana’s DeFi platform right after the migration. For HNT, this will open up even more decentralized exchange platforms.

Not the first time either…

Interestingly, this is not the first time that Binance has removed HNT tokens off its platform. In October last year, the platform (not the U.S. unit) had eliminated the cross-isolated margin and spot trading pairs for HNT and BUSD.

At the time, Helium Foundation COO Scott Sigel had strongly protested Binance’s decision. In a statement to Forbes, he said,

“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.”

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Saman Waris works as a News Editor at AMBCrypto. She has always been fascinated by how the tides of finance and technology shape communities across demographics. Cryptocurrencies are of particular interest to Saman, with much of her writing centered around understanding how ideas like Momentum and Greater Fool theories apply to altcoins, specifically, memecoins. A graduate in history, Saman worked the sports beat before diving into crypto. Prior to joining AMBCrypto 2 years ago, Saman was a News Editor at Sportskeeda. This was preceded by her stint as Editor-in-Chief at EssentiallySports.
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