- The migration from Helium to Solana is delayed until April.
- HNT’s problems have worsened after Binance announced its delisting.
Readiness Working Group, an organization made up of helium The community recently posted an update on its status. stay aloneAfter this news, HNT crashed even more and here is the reason.
how much is 1,10,100 HNT value today?
The Readiness Working Group initially set March 27 as the migration date. However, after the third meeting to assess the immigration situation, the organization voted to postpone the migration until April 18. According to the report, preparations for the migration are still underway.
The Helium community decided to push back the migration date for three reasons. First, some additional testing and operational improvements were necessary. The second reason was that they were waiting for the necessary government votes and the third, the preparation of the community was not 100%.
price action
Helium’s native HNT token is one of the few coins that is on a bearish path opposite to the direction of the market this week. It was reduced by approximately 18% within 24 hours of the announcement of the delayed migration date. Its price of $1.53 at press time was 55% off from its February high.
HNT traders should also note that the price is now oversold and is currently holding a key support line. It previously retested the same support on March 14 and earlier in the year in January. In other words, there is significant potential for a bounce from current levels.
While the current expectation is that HNT can bounce back, there are a few factors to consider. For example, binanza Recently announced plans to delist HNT on March 24. This decision may have contributed to the surge in departures.
#binance It will eliminate HNT and WABI on March 24, 2023.
–Binance (@binance) March 17, 2023
The delisting announcement means that HNT will lose much of the liquidity it would otherwise have accessed on Binance.
Therefore, the token’s ability to recover may be limited. As far as on-chain observations go, at press time, the volume and volatility metrics both hit their weekly highs in the last 24 hours.
Source: Feeling
The increase in volume and volatility represents an increase in selling pressure, but could this really mark the peak of recent outflows? Well, HNT’s market cap metric recently showed signs of reaccumulation at $224.2 million before weakening to $212.4 million.
Source: Feeling
realistic or not, here it is Helium market capitalization in terms of BTC
Based on the observation above, those who try to catch a falling knife may bleed. This confirms that there is weak buying pressure and could lead to further declines.
