A decentralized wireless network crypto project on the Solana (SOL) layer-1 blockchain is aiming to transform the telecom industry with the launch of a new mobile phone plan. In a statement, Helium Mobile says it has just rolled out a phone plan, which will be initially available exclusively to Miami residents. “We’re launching in a […]
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An altcoin project on the Solana (SOL) network is rallying after top US crypto exchange Coinbase announced the digital asset will soon be listed on its platform for trading. According to a new announcement, Coinbase plans to list Helium (HNT) beginning Wednesday when appropriate liquidity conditions are met. Says Coinbase, “Coinbase will add support for Helium […]
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A peer-to-peer wireless hot spot crypto is on the move after Coinbase added the Solana (SOL)-based altcoin to the exchange’s listing roadmap. In a new announcement, Coinbase Assets unveiled Helium (HNT) as the newest addition to the exchange’s listing roadmap. “Asset added to the roadmap today: Helium (HNT).” Helium is a network for the Internet of Things […]
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Anatoly Yakovenko says that the Solana (SOL) chain is already set up to handle hundreds of millions of users. In a new interview on Token Terminal’s YouTube channel, Yakovenko says that he believes the Ethereum (ETH) rival has the capacity to handle the world’s blockchain requirements. “I can definitely see [Solana] handling all of the […]
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Helium (HNT) Network officially completed its much-publicized migration to the Solana (SOL) blockchain on Wednesday. Abhay Kumar, the Helium Foundation’s chief executive, says the upgrade will help with the project’s scalability and reliability. “Migrating the Helium Network to Solana offers significantly more utility for the network, including faster transaction speeds and new smart contract capabilities. […]
The post Helium Finishes High-Profile Migration to Solana (SOL) As HNT Token Surges 11% This Week appeared first on The Daily Hodl.
Ethereum (ETH) challenger Solana (SOL) is rallying amid the news that Helium (HNT) is moving onto the SOL blockchain next month. The Solana network recently announced that Helium is migrating from its current layer-1 solution to the smart contract blockchain platform. “The Helium network is migrating from its current L1 to Solana at the end […]
The post Solana (SOL) Bounces After Announcement That Helium (HNT) Ecosystem’s Officially Migrating to the Ethereum Rival appeared first on The Daily Hodl.
The cryptocurrency economy is doing well during the third week of the new year, compared to the end of 2022. It is currently valued at $993.17 billion, as many digital assets have seen double-digit gains during the last two weeks. While some of the top ten cryptocurrencies, like bitcoin and ethereum, are performing well, a […]
Blockchain analytics firm Santiment is expressing bullish sentiment on seven crypto assets which are currently being heavily betted against. Santiment says that layer-1 blockchain Solana (SOL), decentralized public network Hedera (HBAR) and privacy coin ZCash (ZEC) are some of the crypto assets that are set to rally amid heavy shorting. According to Santiment, other altcoins […]
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Multiple trading pairs of the Helium Foundation’s token will soon be removed from Binance, with the exchange saying it delists assets if it no longer meets “high standards.”
The chief operating officer for the Helium Foundation, Scott Sigel has claimed there is “no basis” for cryptocurrency exchange Binance to delist several trading pairs of its cryptocurrency — Helium Network Token (HNT).
Sigel’s comments come after an Oct. 6 notice by Binance saying the exchange is removing cross, isolated margin and spot trading pairs for HNT and Binance USD (BUSD), Tether (USDT) and Bitcoin (BTC).
Binance “strongly advised” users to close any positions in its listed pairs as user positions will be forcibly closed, and any pending orders canceled on Oct. 12 with only spot trading for the HNT/BUSD pair remaining.
Jessica Jung, a Binance spokesperson, said in a statement to Forbes that the exchange periodically reviews its listed cryptocurrencies to ensure they continue “to meet a high level of standard.”
If an asset doesn’t meet the standard or “there are changes in the industry” it will delist it “in order to protect our users,” she explained.
Sigel in response stated “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.”
“There are dozens of other exchanges that continue to support HNT. We hope Binance reverses course and re-lists the other HNT trading pairs soon,” he added.
Helium was founded in 2013 as an Internet of Things (IoT) focused blockchain and is building a decentralized peer-to-peer wireless telecommunications network, on Sept. 22 it said it would migrate its blockchain to Solana (SOL) which it said was for more ecosystem support among other reasons.
Related: Security and interoperability, the challenges ahead of Web3 mass adoption
Questions as to why Binance is partially delisting HNT has sent traders speculating, with some claiming it was in response to Binance’s mix-up of Helium ecosystem tokens in September where an accounting bug saw the exchange allegedly lose around $19 million worth of crypto.
It’s reported that Binance confused HNT with a much lower-priced token used by Helium to pay hosts of its 5G hotspot network called MOBILE and paid out around 4.8 million HNT causing a massive sell-off of the token, temporarily dropping its price.
Criticism has also been leveled at Helium for its revenue numbers despite significant funding rounds. In July, data suggesting the project makes only $6,500 per month from its data usage revenue was revealed, despite the company raising hundreds of millions from the likes of Andreessen Horowitz (a16z), FTX Ventures and Tiger Global.
In August, Helium was caught listing partners on its website, namely e-bike business Lime and software company SalesForce, which both denied either working with the firm or having an active partnership. Helium removed the mentions to both organizations on its website soon after.
Executives from the Helium Foundation, the non-profit behind decentralized hotspot blockchain Helium (HNT), are responding to crypto exchange Binance’s sudden delisting of the project’s native token. Binance delisted HNT’s main trading pairs last week with no specific explanation. In a statement to Forbes, Binance spokesperson Jessica Jung said, “[Binance periodically reviews] each digital asset we […]
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