Helium Foundation Urges Safe Custody of HNT Trading Pairs

A man shouting with a megaphone while floating on HNT tokens.
  • Binance.US is delisting HNT trading pairs ahead of Helium’s migration to Solana.
  • The Helium Foundation is disappointed but remains committed to the migration.
  • Helium’s migration to Solana is poised to scale network utility.

One of the largest cryptocurrency exchanges in the United States Binance.US is amidst periodic reviews to ensure that all listed digital assets continue to “meet the standard of excellence” expected.

On March 13th, 2023, Binance.US announced the delisting of the HNT/USD and HNT/USDT trading pairs from March 21st.

The move comes ahead of the Helium (HNT) network’s migration to Solana, a process that the Helium Foundation has worked on for several months. 

Binance.US customers are advised to consider taking custody of their HNT assets using the open-source Helium Wallet app or to migrate to one of the other 20+ venues currently supporting HNT trading pairs.

Binance Leaves Helium “Disappointed”

The Helium Foundation is expressing its disappointment with Binance.US’s decision to delist the HNT trading pairs.

The Foundation has been working closely with the Solana community, the Solana Foundation, and other ecosystem projects to ensure the migration is successful and completed on time.

Following the migration, the Helium Wallet app will support native subDAO token redemption, as outlined in HIP 70, and other integrations within Solana decentralized finance (DeFi) platforms, unlocking more decentralized trading venues for HNT.

The Helium Foundation remains committed to the migration and will continue to educate Binance.US about the network’s core initiatives and development roadmap.

PoW to PoS

Helium’s migration to Solana is a significant event for the network, as it is on par with Ethereum’s transition from Proof of Work (PoW) to Proof of Stake (PoS).

The transition was a major milestone for the Ethereum (ETH) network, claiming the #2 rank by market capitalization.

The Helium migration is expected to scale network utility and help direct more resources toward the Helium Foundation’s ultimate goal of creating a ubiquitous, affordable communication layer for all people and devices.

In light of the Binance.US delisting announcement, HNT is trading at $2.08 at the time of writing, recording a 7% dip over the past 24 hours.

On the Flipside

  • Binance.US has delisted HNT trading pairs once before in October 2022.
  • The official Helium Network migration will occur on March 27th.

Why You Should Care

Helium’s Solana migration is set to be the most significant upgrade to the Helium network in terms of scalability and reliability. 

Read more about the cross-over of Solana and Helium:
Solana (SOL) Rockets 30% in Light of Helium Migration

Read the latest news on Cardano:
Cardano Pushes Out CIP-1694 Update as ADA Rallies to $0.36

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Monique Brelage

Monique Brelage is a crypto news reporter with a particular interest in the NFT and Web3 gaming sectors. She combines her knacks as a writer, artist, gamer, marketer, and Web3 enthusiast to educate audiences about complex topics in an engaging way. After immersing herself into the realm of NFTs in 2019, Monique has since explored many industries, from fashion to commerce, but has always remained invested in the Web 3.0 ecosystem. She acknowledges the profound impact decentralization will have on the future.