WABI Token Price Drops 53% Due to Binance Delisting

Bitcoin exchange Binance announced the delisting on March 24, 2023 of two tokens – Tael (WABI) and Helium (HNT). The price of assets 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 the coin of the Tael project, the market in the WABI / BTC pair on the platform is dominant – it accounts for over 99% of trading volume in the asset. The Helium token has a maximum of 62% recorded for HNT/BUSD.

Against the background of the delisting announcement, the price of WABI collapsed by 53%. Quotes HTM reacted more restrained, falling by 13%.

At the time of writing, HTM is in 177th place in the ranking by capitalization with a figure of ~$233.9 million. WABI has figures of 1496 and ~$3.3 million, respectively.

The exchange team in a statement reminded that it constantly checks the compliance of digital assets for compliance with the listing rules.

Among the factors that may lead to the removal of the token from the platform, Binance named:

• the level and quality of project development by its team;
• trading volume and liquidity;
• network stability and security;
• level of publicity;
• responding to periodic requests from the exchange;
• the contribution of the project to building a healthy and sustainable crypto-ecosystem.

In December, the head of the exchange, Changpeng Zhao, responded to the claims of the Mithril team regarding the delisting of the project’s token and a request to return a deposit of 200,000 BNB (~$50.7 million at that time).