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Executives at the Helium Foundation, the nonprofit behind decentralized hotspot blockchain Helium (HNT), are responding to the sudden delisting of the project’s native token by cryptocurrency exchange Binance.
binance Delisting HNT’s main trading pairs for the last week. No specific instructions.
In a statement to Forbes, Binance spokeswoman Jessica Jung said: Said,
“[Binance periodically reviews] We ensure that each digital asset we list continues to meet our high standards. If a coin or token no longer meets this standard, or if there are changes in the industry, we may conduct a more in-depth review and delist it to protect our users.
Helium Foundation COO Scott Sigel told Forbes:
Binance has no basis for delisting some HNT pairs. The integrity of HNT has not changed and it still meets all the criteria set by the exchange
There are many other exchanges that still support HNT. We hope Binance will reverse course and relist other HNT trading pairs soon.
Helium focuses on building networks for the Internet of Things (IOT) using physical hotspots. Helium is designed to allow his networked IOT devices to communicate and share data. HNT tokens will be used to reward participants for validating coverage and providing wireless hotspots.
Last month, Helium founder Nova Labs partnered with telecommunications giant T-Mobile to roll out Helium Mobile, an extension of its blockchain 5G network.
At the time of writing, HNT is trading at $4.62, down 91.6% from its all-time high of $54.88.
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