{"id":619329,"date":"2023-03-18T10:53:05","date_gmt":"2023-03-18T15:53:05","guid":{"rendered":"https:\/\/news.sellorbuyhomefast.com\/index.php\/2023\/03\/18\/hnt-extends-downside-as-helium-network-migration-date-pushed-back-to\/"},"modified":"2023-03-18T10:53:05","modified_gmt":"2023-03-18T15:53:05","slug":"hnt-extends-downside-as-helium-network-migration-date-pushed-back-to","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2023\/03\/18\/hnt-extends-downside-as-helium-network-migration-date-pushed-back-to\/","title":{"rendered":"HNT extends downside as Helium network migration date pushed back to\u2026"},"content":{"rendered":"<div id=\"mvp-content-main\">\n<ul>\n<li><em>Helium\u2019s migration to Solana gets pushed back to April.<\/em><\/li>\n<li><em>HNT woes get worse after Binance announced delisting.<\/em><\/li>\n<\/ul>\n<p>The Readiness Working Group, an organization formed by the <a href=\"https:\/\/ambcrypto.com\/solanas-helium-balloon-in-danger-of-popping-as-collab-attracts-attention\/\" data-wpel-link=\"internal\">Helium<\/a> community recently released an update on the status of its <a href=\"https:\/\/ambcrypto.com\/decoding-why-helium-community-approved-migration-to-solana\/\" data-wpel-link=\"internal\">migration to Solana<\/a>. HNT crashed further following the news and here\u2019s why.<\/p>\n<hr>\n<p>How many are 1,10,100 <a href=\"https:\/\/ambcrypto.com\/convert\/1-hnt-to-usd\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">HNTs worth today<\/a>?<\/p>\n<hr>\n<p>The Readiness Working Group had initially settled on 27 March as the Migration date. However, the organization voted in favor of pushing the migration to 18 April after a third meeting to assess the migration status. According to the report, the migration preparations are still on track.<\/p>\n<p>The Helium community opted to push back the migration date for three reasons. Firstly, some operational improvements and additional testing were necessary. The second reason was that they were waiting for necessary governance votes and the third, community readiness wasn\u2019t 100%.<\/p>\n<h3><strong>HNT price action<\/strong><\/h3>\n<p>Helium\u2019s native token HNT is one of the few coins that have been on a bearish trajectory this week contrary to market direction. It fell by roughly 18% within 24 hours of announcing that the migration date would be delayed. Its $1.53 press time price was a 55% discount from its February highs.<\/p>\n<div id=\"attachment_298136\">\n<p><a href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/03\/HNTUSD_2023-03-17_22-54-41.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-298136\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/03\/HNTUSD_2023-03-17_22-54-41.png\" alt=\"HNT price action\" width=\"1187\" height=\"578\"   data-old-src=\"data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%201187%20578'%3E%3C\/svg%3E\" data-lazy-srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/03\/HNTUSD_2023-03-17_22-54-41.png 1187w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/03\/HNTUSD_2023-03-17_22-54-41-300x146.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/03\/HNTUSD_2023-03-17_22-54-41-1024x499.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/03\/HNTUSD_2023-03-17_22-54-41-768x374.png 768w\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/03\/HNTUSD_2023-03-17_22-54-41.png\"><\/a><\/p>\n<p id=\"caption-attachment-298136\">Source: TradingView<\/p>\n<\/div>\n<p>HNT traders should also note that the price is now oversold and currently at a key support line. It previously retested the same support on 14 March and at the start of the year in January. In other words, there is a significant probability of a bounce back from the current level.<\/p>\n<p>While the current expectation is that HNT might bounce back, there are some factors to consider. For example, <a href=\"https:\/\/ambcrypto.com\/binance-us-delists-helium-hnt-possibly-over-migration-to-solana\/\" data-wpel-link=\"internal\">Binance<\/a> recently announced plans to delist HNT on 24 March. This decision may have contributed to the sudden surge in outflows.<\/p>\n<blockquote data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/Binance?src=hash&#038;ref_src=twsrc%5Etfw\" data-wpel-link=\"external\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">#Binance<\/a> will delist HNT and WABI on March 24, 2023.<a href=\"https:\/\/t.co\/390nGoxxyS\" data-wpel-link=\"external\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">https:\/\/t.co\/390nGoxxyS<\/a><\/p>\n<p>\u2014 Binance (@binance) <a href=\"https:\/\/twitter.com\/binance\/status\/1636624177808408577?ref_src=twsrc%5Etfw\" data-wpel-link=\"external\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">March 17, 2023<\/a><\/p>\n<\/blockquote>\n<p>The delisting announcement means HNT will miss out on a lot of liquidity that it would have otherwise accessed on Binance.<\/p>\n<p>The token\u2019s ability to bounce back might thus be limited. As far as on-chain observations are concerned, the volume and volatility metrics reached their weekly highs in the last 24 hours, at press time.<\/p>\n<div id=\"attachment_298134\">\n<p><a href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/03\/Helium-HNT-23.05.08-17-Mar-2023.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-298134\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/03\/Helium-HNT-23.05.08-17-Mar-2023.png\" alt=\"HNT volume and volatility\" width=\"2560\" height=\"867\"   data-old-src=\"data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%202560%20867'%3E%3C\/svg%3E\" data-lazy-srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/03\/Helium-HNT-23.05.08-17-Mar-2023.png 2560w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/03\/Helium-HNT-23.05.08-17-Mar-2023-300x102.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/03\/Helium-HNT-23.05.08-17-Mar-2023-1024x347.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/03\/Helium-HNT-23.05.08-17-Mar-2023-768x260.png 768w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/03\/Helium-HNT-23.05.08-17-Mar-2023-1536x520.png 1536w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/03\/Helium-HNT-23.05.08-17-Mar-2023-2048x693.png 2048w\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/03\/Helium-HNT-23.05.08-17-Mar-2023.png\"><\/a><\/p>\n<p id=\"caption-attachment-298134\">Source: Santiment<\/p>\n<\/div>\n<p>The volume and volatility surge represents the increased sell pressure but could this really mark the peak of the recent outflows? Well, HNT\u2019s market cap metric recently showed signs of re-accumulation at $224.2 million before further weakening to $212.4 million.<\/p>\n<div id=\"attachment_298133\">\n<p><a href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/03\/Helium-HNT-23.29.13-17-Mar-2023.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-298133\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/03\/Helium-HNT-23.29.13-17-Mar-2023.png\" alt=\"HNT marketcap\" width=\"2560\" height=\"867\"   data-old-src=\"data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%202560%20867'%3E%3C\/svg%3E\" data-lazy-srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/03\/Helium-HNT-23.29.13-17-Mar-2023.png 2560w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/03\/Helium-HNT-23.29.13-17-Mar-2023-300x102.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/03\/Helium-HNT-23.29.13-17-Mar-2023-1024x347.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/03\/Helium-HNT-23.29.13-17-Mar-2023-768x260.png 768w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/03\/Helium-HNT-23.29.13-17-Mar-2023-1536x520.png 1536w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/03\/Helium-HNT-23.29.13-17-Mar-2023-2048x693.png 2048w\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/03\/Helium-HNT-23.29.13-17-Mar-2023.png\"><\/a><\/p>\n<p id=\"caption-attachment-298133\">Source: Santiment<\/p>\n<\/div>\n<hr>\n<p>Realistic or not, here\u2019s <a href=\"https:\/\/ambcrypto.com\/calculator\/marketcap\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">Helium\u2019s market cap in BTC\u2019s terms<\/a><\/p>\n<hr>\n<p>Those attempting to catch the falling knife may end up bleeding based on the above observation. It confirms that there is weak buying pressure and may favor more downside.<\/p>\n<\/p><\/div>\n<div id=\"mvp-content-bot\">\n<div id=\"mvp-author-box-wrap\">\n<div>\n<p><img loading=\"lazy\" decoding=\"async\" data-del=\"avatar\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2022\/03\/IMG_20220322_164603_71-80x80.jpg\" height=\"60\" width=\"60\" data-old-src=\"data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%2060%2060'%3E%3C\/svg%3E\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2022\/03\/IMG_20220322_164603_71-80x80.jpg\">\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/p>\n<\/p><\/div>\n<p>Michael is a full-time journalist at AMBCrypto. He has 5 years of experience in finance and forex and more than two years as a writer in the crypto and blockchain segments. Michael&#8217;s writing at AMBCrypto is primarily focused on cryptocurrency market news and technical analysis.<br \/>\nHis interests include motorcycles and exotic cars.<\/p>\n<\/p><\/div>\n<div itemprop=\"publisher\" itemscope itemtype=\"https:\/\/schema.org\/Organization\">\n<div itemprop=\"logo\" itemscope itemtype=\"https:\/\/schema.org\/ImageObject\">\n<p><img decoding=\"async\" src=\"https:\/\/i.imgur.com\/NCmyYWg.png\" data-old-src=\"data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%200%200'%3E%3C\/svg%3E\" data-lazy-src=\"https:\/\/i.imgur.com\/NCmyYWg.png\"><\/p>\n<p><meta itemprop=\"url\" content=\"https:\/\/i.imgur.com\/NCmyYWg.png\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n<p>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<meta itemprop=\"name\" content=\"AMBCrypto\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/ambcrypto.com\/hnt-extends-downside-as-helium-network-migration-date-pushed-back-to\/\" class=\"button purchase\" rel=\"nofollow noopener\" target=\"_blank\">Read More<\/a><br \/>\n Michael Nderitu<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Helium\u2019s migration to Solana gets pushed back to April. HNT woes get worse after Binance announced delisting. The Readiness Working Group, an organization formed by the Helium community recently released an update on the status of its migration to Solana. HNT crashed further following the news and here\u2019s why. How many are 1,10,100 HNTs worth<\/p>\n","protected":false},"author":1,"featured_media":619330,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[28657,22945],"tags":[],"class_list":{"0":"post-619329","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-downside","8":"category-extends"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/619329","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=619329"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/619329\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/619330"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=619329"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=619329"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=619329"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}