Mathisen Marketing

Your Marketing Blog

Helium: Binance’s erroneous payouts had these effects on HNT’s performance

Helium: Binance’s erroneous payouts had these effects on HNT’s performance

As an affiliate, we may earn from qualifying purchases. We get commissions for purchases made through links on this website.

Receive $10 in Bitcoin when you buy or sell $100 or more on Coinbase! https://mathisenmarketing.com/coinbase

On September 16, leading crypto exchange Binance made a massive mistake that turned out to be profitable for some users. According to the new reports, Binance mistakenly paid out about 4.8 million Helium [HNT] tokens for some users. Many of these users took advantage of the situation and sold the option at a profit.

According to reports, the incorrect payments were due to an accounting error on the exchange.

Helium Network has two brands. These are the HNT token – which the network pays its hotspot hosts. The second is the MOBILE token – paid to the operators of the network’s 5G infrastructure. Although these resources are closely related, they are distinct.

On September 16, Binance “incorrectly counted them as one” – HNT. This mistaken belief caused depositors who sent MOBILE to Binance addresses to receive a corresponding amount of “more valuable HNT”.

As a result of this error, 4.8 million HNT tokens worth $19 million were sent to users.

How does HNT react?

At the time of writing, HNT was trading at $4.24, data from CoinMarketCap was revealed. In the trading session on September 16, the native token sold for as low as $3.94 per token.

After the news about the incorrect payments was announced, HNT has not recorded much increase or decrease in prices. In fact, in the last 24 hours the price of HNT increased by 1%. However, the exchange of the window period also decreased by 12%.

According to information, from Holy, the price of HNT fell by more than 135% in the last three months. Within the 90-day period, the asset reached its highest daily trading volume on September 7, during which the price temporarily improved. However, since then the asset price and trading volume have decreased.

Source: Santiment

It’s normal

HNT fell 92% from its all-time high, continuing its nine-month decline. Although many Binance users had tracked the erroneous HNT payments, they started selling the paid HNT tokens for profit.

Additionally, the Relative Strength Index (RSI) and Money Flow Index (MFI) remained unchanged on the daily chart. However, these indicators were positioned at points that indicate an increase in selling pressure. At the time of writing, the RSI was 39 and the MFI was 58.

However, a look at the asset’s Moving Average Convergence Divergence (MACD) revealed a bullish intersection of the MACD and trendline on September 8. With price marked by green histogram bars since then, the bulls may also attempt a comeback.

Source: TradingView

Receive $10 in Bitcoin when you buy or sell $100 or more on Coinbase! https://mathisenmarketing.com/coinbase

Source link

Leave a Reply

Your email address will not be published.

Latest Posts

  • Mature Bitcoin Wealth Taps an All-Time High — Diamond Hands Trend Highlights ‘Refusal to Spend’ – Featured Bitcoin News

    Mature Bitcoin Wealth Taps an All-Time High — Diamond Hands Trend Highlights ‘Refusal to Spend’ – Featured Bitcoin News

    Receive $10 in Bitcoin when you buy or sell $100 or more on Coinbase! https://mathisenmarketing.com/coinbase Since Bitcoin approached $25,000 about 44 days ago, the price of the crypto-asset has lost more than 17.88% against the US dollar. An Onchain analysis by researchers at Glassnode says the price drop has put short-term owners in “severe unrealized […]

    Read More

  • ETH Lacks Steam, TAMA Debuts on OKX

    ETH Lacks Steam, TAMA Debuts on OKX

    Receive $10 in Bitcoin when you buy or sell $100 or more on Coinbase! https://mathisenmarketing.com/coinbase Join us Telegram channel to keep up to date with the latest news Ethereum Bulls are too tired to cause a significant price increase in the ETH/USD market. Technical indicators also describe a weakening of price activity. Ethereum analysis statistics:Ethereum […]

    Read More

  • Terra Classic Price Prediction on New Binance LUNC Burn News

    Terra Classic Price Prediction on New Binance LUNC Burn News

    Receive $10 in Bitcoin when you buy or sell $100 or more on Coinbase! https://mathisenmarketing.com/coinbase Join us Telegram channel to keep up to date with the latest news Following the news from Binance, Luna Classic, which trades as LUNC, has surged over 60% in less than a day and has been ranked #31 on coinmarketcap.com. […]

    Read More