Binance Removed HNT Trading Pair Because It No Longer Meets Listing Criteria

In a recent post, Binance shared the reason for deleting HNT trading pairs. According to the exchange, HNT generates poor revenue and no longer meets the exchange’s listing standards. Immediately, the COO at Helium Foundation denied it and said that there was no basis for the removal of HNT trading pairs.

In a recent interview with Forbes, Binance spokesperson Jessica Jung shared why the crypto exchange removed HNT trading pairs. Round share she said, the removal of the token to protect users and periodically evaluated.

“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.”

She said

As mentioned in an earlier Coincu News article, Binance announced in a blog post on Thursday that it would stop trading Helium Network Tokens (HNT) across a number of trading pairs over the following week, thus barring token holders from exchanging HNT for Bitcoin or other cryptocurrencies.

In order to avoid “doing an automatic settlement and canceling all pending orders” in relation to HNT and its trading pairs on October 12, Binance highly encouraged people to finish down their positions. With the HNT/BUSD pair, users can still engage in spot trading.

Faced with that news, Helium’s COO also shared with Forbes that the delisting was “unfounded” and wished that Binance could turn the tables and list transactions with HNT again.

“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.”

Scott Sigel, COO of Helium Foundation said

The delisting announcement comes amid reports of poor revenue, as well as the network’s abandonment of its original blockchain to move to Solana last month.

Since the announcement of the token cancellation, the price of HNT has continuously dropped by more than 20% from October 6 to now. Currently HNT is trading at $4.58.

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