Home | Crypto News | Helium [HNT] Token Delisted From Binance.US Ahead Of Migration To Solana

Helium [HNT] Token Delisted From Binance.US Ahead Of Migration To Solana

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Binance.US, the American arm of the Binance cryptocurrency exchange, has announced the removal of two tokens, Helium (HNT) and JasmyCoin (JASMY), from its platform. Effective from March 21, the tokens will no longer be available for trading on Binance.US. According to the platform, the decision to delist the tokens was made after thoroughly evaluating all current assets.

After conducting a comprehensive review of its current assets, Binance.US has announced that it will delist the tokens mentioned above, and they will no longer be available on the platform starting from March 21.

The decision by Binance.US to delist the HNT trading pairs has been influenced by Helium’s migration to Solana.

The Helium Foundation responded shortly after, expressing disappointment with Binance.US’s decision to delist the HNT token. However, they stated they would maintain communication with the exchange to share the network’s primary objectives and plans for future growth.

Furthermore, the Helium team plans to urge users to regain control of their HNT by utilizing the free and open-source Helium Wallet app. Alternatively, users will be encouraged to transition to one of the over 20 trading platforms that still offer HNT trading pairs.

Helium emphasized its dedication to the transition to Solana and said it would significantly enhance the network’s utility. This migration will also allow the team to focus more resources on achieving their goal of establishing a cost-effective communication layer for all devices and users.

Moreover, the Helium app will facilitate the redemption of native subDAO tokens and other integrations within Solana’s DeFi platform immediately after the migration. This will offer even more decentralized exchange options for HNT.

Binance’s History Of Removing HNT Tokens From Its Platform

It is worth noting that Binance has previously delisted HNT tokens from its platform. In October of last year, the platform (not the US unit) removed the cross-isolated margin and spot trading pairs for HNT and BUSD.

When Binance previously delisted HNT tokens, Helium Foundation COO Scott Sigel expressed strong opposition to the decision. In a statement to Forbes, Sigel stated that he strongly protested Binance’s decision to delist HNT tokens in October last year. Sigel emphasized that the integrity of HNT has not changed and that it still meets all of the exchange’s standards. He also pointed out that there are many other exchanges that continue to support HNT and expressed hope that Binance would re-list the other HNT trading pairs soon.

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