Binance Detaches HNT and WABI from its Trading Pairs
On March 17th, according to an official announcement, Binance will take off the shelves of HNT and WABI and stop trading on HNT/BUSD and WABI/BTC trading pairs
On March 17th, according to an official announcement, Binance will take off the shelves of HNT and WABI and stop trading on HNT/BUSD and WABI/BTC trading pairs at 11:00 pm Beijing time on March 24th. After the transaction of each corresponding transaction pair is stopped, all transaction orders will be automatically deleted.
Binance will be taken off the shelves of HNT and WABI on March 24th
Analysis based on this information:
The world’s leading cryptocurrency exchange, Binance, has announced the delisting of Helium (HNT) and TAEL (WABI) from its trading pairs. Trading of the assets will be halted on March 24th, 2021.
According to the announcement, Binance plans to stop trading the HNT/BUSD and WABI/BTC pairs by 11:00 pm Beijing Time. Once trading has ceased, all orders in the trading pairs will be automatically stopped.
The decision to delist both assets from Binance is likely to have been influenced by the performance of both coins in recent months. WABI and HNT have struggled to gain any significant value in the cryptocurrency market.
One possible reason for the dip in value is the lack of awareness and adoption of the projects. WABI is a blockchain-based platform that offers a traceability feature to enhance efficiency and trust in the supply chain industry. HNT, on the other hand, is designed to support and provide wireless coverage for IoT devices.
It is possible that the lack of adoption of these projects has led to their poor performance in the market, leading to the decision by Binance to delist them from their trading pairs.
Alternatively, the move by Binance could be an attempt to curb potential risks and losses. In recent years, there have been numerous cases of hacks and fraudulent activities in the cryptocurrency market, leading to substantial losses for investors.
By delisting struggling coins, exchanges like Binance can minimize their risk exposure and ensure they are only dealing with assets that are stable and profitable.
In conclusion, Binance’s decision to delist HNT and WABI from its trading pairs is bound to have a significant impact on the value and adoption of the two assets in the cryptocurrency market. It will be interesting to see how the two projects will perform in the coming months, as they seek to reverse the poor performance that led to their delisting.
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