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Helium's HNT Crypto Token Slides to 2-Month Low After Binance.US Delisting Announcement

Helium’s HNT token dropped to the lowest level in two months after crypto exchange Binance.US said it will delist the cryptocurrency as of March 21.

The token has lost 20% in the past 24 hours and was recently trading at $2. The delisting, announced Monday, comes ahead of Helium’s migration to the Solana blockchain from its own blockchain.

The Helium Network is a decentralized grid of wireless hotspots that aims to provide an alternative to hard-wired internet or mobile data service. The services are powered by cryptocurrencies and users who participate in the network receive rewards for doing so. HNT is earned when hotspots provide and validate wireless coverage and transfer data over the network.

The foundation said the transition to Solana is proceeding as planned. The migration takes effect on March 27.

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