Binance.US Removes HNT/USD and HNT/USDT Trading Pairs Ahead of Helium’s Migration
It is reported that Helium, the decentralized wireless communication network, officially announced that Binance.US plans to take off the HNT/USD and HNT/USDT trading pairs on March 21, 2023 before the migration of Solana. Although Helium Foundation is disappointed that Binance.US decided to take this action before the migration, we understand their position.
Helium: Helium Wallet will immediately support native sub DAO token redemption after migrating to Solana
Analysis based on this information:
Helium, the decentralized wireless communication network, has reportedly announced that Binance.US is planning to remove the HNT/USD and HNT/USDT trading pairs on March 21, 2023, ahead of the Solana migration. Although the Helium Foundation expressed its disappointment, it understood the position of Binance.US.
The move to remove the trading pairs comes as a surprise to many who expected that the migration of the Helium network to Solana would be a significant reason to maintain the trading pairs. However, it appears that Binance.US has decided to take this preemptive action despite the expected positive outcome of the migration.
The reason for Binance.US’s decision could be due to several factors. The first could be that the platform is anticipating a change in the market dynamics, which may render the trading pairs not viable in the long run. The second could be that Binance.US may be seeking to curtail its operations ahead of the Helium Foundation’s migration to Solana.
Alternatively, the Helium Foundation will need to increase its efforts to maintain the liquidity of HNT relevant pairs in the absence of trading pairs on Binance.US. This may include collaborating with other decentralized networks to ensure that the trading pairs remain supported.
Furthermore, it will be interesting to see how Helium plans to navigate its migration to Solana without the support of Binance.US. The migration poses significant challenges, and the network will need the support of other players such as exchanges and investors to ensure its success.
In conclusion, Binance.US’s decision to remove the HNT/USD and HNT/USDT trading pairs ahead of Helium’s migration has come as a surprise to many. Although the Helium Foundation is disappointed, it understands Binance.US’s decision. Moving forward, Helium will need to work on maintaining liquidity through alternative decentralized networks and seek to garner support for its migration to Solana.
This article and pictures are from the Internet and do not represent Fpips's position. If you infringe, please contact us to delete:https://www.fpips.com/7371/
It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.
Recommended articles
-
Arbitrum Enables Transaction History Tracking through Official Cross-chain Bridge
On March 9, Arbitrum, the Ethereum Layer2 expansion solution, announced that the official cross-chain bridge added the transaction history function.
Ar…
-
What is the Ethereum Virtual Machine (EVM) and what is the use of virtual memory in Ethereum mining?
What is the Ethereum Virtual Machine? According to official sources, the Ethereu
-
When will Bitcoin rise again (When will Bitcoin rise)?
When will Bitcoin rise again? According to Huobi market, today\’s Bitcoin price i
-
What are the harmful effects of frequent restarts on miners (what is the automatic shutdown of the miner all about)?
What are the harmful effects of frequent restarts on miners? What are the harmfu
-
CertiK Monitoring: Tracking Ethereum Security
It is reported that according to CertiK monitoring, the EOA address 0x63fD7 associated with multiple phishing has transferred 60 ETHs (about 126000 dollars) to Tornado Cash.
EOA ad -
Stargate DAO Recommends Against Reissuing STG Tokens
On March 13, Stargate, a cross-chain liquidity agreement based on LayerZero, tweeted that the Stargate Foundation recommended DAO not to reissue STG tokens. After the bankruptcy of FTX last year, the FTX/Alameda wallet suffered from key leakage or internal problems, and was attacked by hackers and lost about $500 million. The FTX liquidator will eventually transfer all assets to the new wallet, and the key will not be leaked to hackers. Stargate DAO believes that the key of the wallet is likely to be leaked and shared between FTX liquidator/Alameda and hackers, and proposes to reissue STG tokens to transfer these funds out of the wallet. The Stargate Foundation advised the DAO not to reissue STG tokens, and the FTX liquidator may seek compensation Analysis based on this information:Stargate, a cross-chain liquidity agreement based on LayerZero, recently tweeted that the Stargate Foundation recommended against reissuing its STG tokens. This decision is based on the belief that the key to the…
-
Swiss Central Bank’s Liquidity Boost Propels Credit Suisse Shares
Credit Suisse shares reportedly rose 21% in pre market trading on the Swiss Exchange after the Swiss Central Bank provided liquidity. (Jin Shi) Credit Suisse shares rose 21% in pre market trading on the Swiss Exchange Analysis based on this information:The announcement of Swiss Central Bank’s liquidity injection has helped to propel Credit Suisse’s shares, which reportedly rose by 21% in pre-market trading on the Swiss Exchange. This action comes at a time when Credit Suisse has been rocked by legal and regulatory issues that have led to a decline in investor confidence. The injection of liquidity by the Swiss Central Bank is aimed at easing the pressure on the financial sector, which has been hit hard by the COVID-19 pandemic. The move is also seen as a way to mitigate the risk of a liquidity crunch, as banks continue to grapple with the economic fallout of the pandemic. The increase in Credit Suisse’s share value can be seen as…
-
Gnosis Builders Launches Hashi for Enhanced Bridge Security
It is reported that Gnosis Chain\’s ecosystem team, Gnosis Builders, has announced the launch of Hashi, which enhances bridge security by aggregating bridge standards. Gnosis Chain
-
X2Y2 Implements Management Fees for NFT Loans and Refinancing
On March 14, X2Y2 announced that it had started to charge management fees for NFT loans and refinancing, which would take effect on March 14. Specifically, each NFT loan will charge the lender 10% interest as the platform fee, and each refinancing will charge the borrower 0.2% of the principal as the service fee. X2Y2 has started to charge management fees for NFT loans and refinancing Analysis based on this information:X2Y2, a leading NFT (non-fungible token) lending and trading platform, has revealed that it will now start charging management fees for NFT loans and refinancing. The decision, which was made public on March 14, has been implemented with immediate effect. Under the new fee structure announced by the platform, each NFT loan will charge a lender a 10% interest fee as a platform fee, and each refinancing will charge the borrower 0.2% of the principal as a service fee. NFT loans are becoming increasingly popular among investors and traders, as…
-
“Dr. Doomsday” Nouriel Roubini: Most American banks are technically close to bankruptcy
According to reports, Nouriel Roubin, a well-known economist who is opposed to cryptocurrencies, interrupted in a recent MarketWatch column that most American banks are technically
-
Nima Momeni Refuses to Plead Guilty in Cash App Founder’s Assassination
On April 26th, it was reported that Nima Momeni, the suspect accused of assassinating Bob Lee, the founder of Cash App, will not plead guilty. Her lawyer Paula Canny told reporters
-
Ark Invest’s Million-Dollar Move in Coinbase and Robinhood Shares
It is reported that Ark Invest bought the shares of Coinbase and Robin Hood yesterday, with a value of 3.44 million US dollars and 9.97 million US dollars resp…
-
Goldman Sachs Buys into Bitcoin
It is reported that Bitcoin has the support of one of the largest players on Wall Street. Recently, financial giant Goldman Sachs released a new report saying …
-
**US Treasury Official Claims Cryptocurrency Not the Direct Cause of Bank Failures**
According to reports, Nellie Liang, the Under Secretary for Domestic Financial Affairs of the US Treasury Department, said that the encryption industry should not be responsible fo
-
Bitfinex and Penguin Academy Provide Women in Paraguay with Introductory Coding Course
On April 27th, Bitfinex announced a partnership with Penguin Academy to provide a three week introductory coding course for Paraguayan women. The training camp will be held from Ma
-
Ethereum’s Circulation Volume Decreases
On March 1, according to the data of ultra-sound.money, the circulation volume of Ethereum has decreased by more than 40000 pieces for the first time since the…