Helium bottoms out in oversold territory- here's what investors can expect
While that decision was hardly enough to shift investor sentiment, it may have fueled Binance’s decision to delist HNT.
Binance did not disclose a clear reason for its decision. However, there can be two main reasons, reportedly. First, when a change in industry circumstances warrants such a shift, and second when the native project breaks Binance’s listing standards. Well, the latter is likely the reason in Helium’s case.The delisting led to FUD and a large wave of liquidity outflows. HNT tanked by roughly 53% from mid-March to a new low at $1.15. This was lower than its previous support in December 2022.
HNT has reclaimed roughly $33.6 million back into its market cap from its bottom range. But this is just a fraction compared to the $184 million that was shaved off HNT’s market cap from mid-March to its recent lows.