Binance announced the delisting of Helium (HNT), resulting in a crash in the value of $HNT in the crypto market.
Why Delist $HNT?
Binance is simply taking precautions as helium is moved off the helium chain and onto the solana chain. Helium Chain is essentially on the verge of shutting down because the developers just don't know how to work on it.
Binance US is said to have lost $40 million due to the changing nature of HNT. In addition, Binance US is to delisted $Jasmy, and Binance will delist $WABI. Value of Jasmy and WABI also affected.
Hope for Helium
The process of moving HNT to Solana has been supported by some smaller and secondary exchanges, such as Gate.io and ByBit, so Helium's hopes are not lost yet. Some people are trying to capitalize on the fall in price due to the effect of Binance with the "Buy the Dip" strategy.