The cryptocurrency exchange Binance announced on March 24, 2023 the delisting of two tokens — Tael (WABI) and Helium (HNT). The assets’ prices reacted with a sharp decline.
#Binance will delist HNT and WABI on March 24, 2023.https://t.co/390nGoxxyS
— Binance (@binance) March 17, 2023
According to CoinGecko, for Tael the market in the WABI/BTC pair on the platform is the dominant one — accounting for more than 99% of trading volume in the asset. For Helium the maximum share is 62% recorded for HNT/BUSD.
In the wake of the delisting announcement, WABI price collapsed by 53%. The HTM quotes reacted more modestly, falling 13%.
As of writing HTM ranks 177th by market capitalization, with about $233.9 million. WABI figures are 1496 and about $3.3 million respectively.
The exchange team, in a statement, reminded that it continually checks the compliance of digital assets with listing rules.
Among the factors Binance named that could lead to the token’s removal from the platform are:
- the level and quality of project development by its team;
- trading volume and liquidity;
- network stability and security;
- level of publicity;
- response to periodic exchange inquiries;
- the project’s contribution to building a healthy and sustainable crypto ecosystem.
In December 2022, the head of the exchange, Changpeng Zhao, responded to Mithril’s claims regarding the token’s delisting and the request to return a deposit of 200 000 BNB (~$50.7 million at the time).