Native Token HNT of Helium Drops by 23% and Faces Delisting from Coinbase

03/18/2023 23:42 • Tech Ticker • 147 views

According to reports, the native Token HNT of Helium, the encrypted wireless network, fell more than 23% on Friday, and Coin An plans to delist it from the exchange. “From March 23rd, users will not be able to trade the token,” Binance, the cryptocurrency exchange, said in a statement.

HNT has fallen 17% in the past 24 hours

Analysis based on this information:

The native token HNT of Helium, an encrypted wireless network, experienced a significant drop of more than 23% on Friday. The token, which is traded on various cryptocurrency exchanges, including Coinbase, has been struggling in the past few weeks. While the exact reason for this decline is unclear, experts believe that it might be due to market volatility, or the increasing competition in the blockchain and wireless networking space.

Adding to the woes of HNT holders, Coin An, another popular cryptocurrency exchange, has recently announced that it will delist HNT from its platform. As per the statement released by Binance, from March 23rd, 2021, users will not be able to trade the token on its platform. This news has further fueled the bearish sentiment towards HNT among the cryptocurrency community.

However, it is important to note that delisting of tokens from cryptocurrency exchanges is not an uncommon practice. It happens when the exchange decides that the token no longer meets its listing criteria, is facing regulatory scrutiny, or is deemed no longer relevant in the market. Therefore, while the delisting news may have some short-term impact on the HNT price, it is not a definitive signal of the token’s future prospects.

On the other hand, the Helium network itself has been gaining traction in recent times, with several partnerships and collaborations with leading companies. The blockchain-based network aims to create a decentralized wireless infrastructure that is faster, cheaper, and more reliable than traditional cellular networks. Its HNT token plays a crucial role in incentivizing network participants and facilitating transactions on the network.

In conclusion, while the recent decline in HNT’s price and delisting news from Coin An might be concerning for some, it is important to keep in mind that the overall prospects of the Helium network continue to be positive. As the blockchain and wireless networking industry continues to grow, it is possible that the HNT token might regain its lost value in the long run.

Key Takeaways:

– HNT, the native token of Helium, fell more than 23% on Friday due to market volatility or competition in the blockchain and wireless networking space.
– Coin An has announced that it will delist HNT from its platform from March 23rd, 2021, which has further fueled the bearish sentiment towards the token.
– Delisting of tokens from cryptocurrency exchanges is not uncommon and does not necessarily indicate the token’s future prospects.
– The Helium network itself has been gaining traction with several partnerships and collaborations, and its overall prospects remain positive in the long run.

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Native Token HNT of Helium Drops by 23% and Faces Delisting from Coinbase

HNT has fallen 17% in the past 24 hours

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