Binance has announced the delisting of two cryptocurrencies – HNT and WABI. This news sparked a lot of discussion in the crypto investor and trader community.
Delisting is the process of removing a cryptocurrency from a trading platform. This is often done due to a lack of interest in a particular coin, insufficient liquidity, or security issues. Binance is one of the largest cryptocurrency exchanges in the world, so delisting on this platform can significantly affect the coin’s price and interest.
- HNT (Helium Network) is a blockchain-based cryptocurrency used to build wireless IoT (Internet of Things) networks. This coin appeared on Binance in April 2019 and has not gained much popularity since then. For investors who had HNT on their Binance balance, the exchange offered to withdraw funds to a personal wallet or to another cryptocurrency exchange.
- WABI is another cryptocurrency that appeared on Binance in 2017. It is used to authenticate goods in the pharmaceutical and food industries. However, over time, this coin lost its popularity and did not receive a significant trading volume on Binance. For investors who had WABI on their balance, Binance also offers to withdraw funds to a personal wallet or to another cryptocurrency exchange.
These two delistings are not uncommon on cryptocurrency exchanges. Such decisions are made to reduce the risk for investors and ensure the quality of liquidity on the exchange. The exchanges monitor the popularity of coins and their rating in the market to provide safe and stable trading conditions for their users.
For investors who had HNT and WABI on their Binance balance, it is important to learn about the delisting in time and take the necessary measures to keep their funds safe. This may include withdrawing the coins to a personal wallet or transferring them to another cryptocurrency exchange where they will continue to be traded.
On the one hand, delisting can lead to a decrease in the price of the coin and losses for investors who did not have time to sell it. On the other hand, it can be beneficial for the market if the removal of the coin from the exchange leads to a decrease in the percentage of fraud and an increase in security in the cryptocurrency market.
Overall, the delisting of HNT and WABI on Binance is a reminder of the importance of researching and analyzing coins before investing in them. Investors should follow the news on the market and ensure the safety of their cryptocurrency investments.