In summary:
- Salt (SALT) was delisted from the Binance exchange in February of 2019.
- The team at SALT was caught off-guard by the delisting but pledged to continue with its commitment to the project.
- Since then, there have been noteworthy developments from the team.
- SALT/USD is currently trading at $0.0768 and up 11% in the last 24 hours.
In mid-February last year, Binance announced that it was delisting 5 projects due to a list of reasons such as level and quality of development activity, level of public communication, the commitment of the team and more. The 5 projects included CloakCoin (CLOAK), Modum (MOD), Substratum (SUB), WINGS and Salt (SALT).
Immediate Response by the SALT team After the Delisting
After the announcement, the team at SALT, went on to assure the Salt Community that all was well despite being delisted on Binance. In their official Medium blog, the Salt team explained that Binance had not given them a chance to defend the token from being delisted. The team promised to continue with their commitment to the project through the following statement.
SALT would like to take the opportunity to reaffirm our commitment to you, our products, and the blockchain industry…
SALT is a team of over 70 passionate, dedicated employees and professionals around the globe. We are proud to have the best customer support team in the business responding to phone, email and social media requests around the clock.
One Year After Delisting
It has now been over a year since the event and the team at SALT has kept its promise and continued to develop the platform. Some noteworthy achievements in the last 12 months include:
- Addition of the following digital assets as collateral for loans on the platform: TrueUSD, DASH, PAX, Bitcoin Cash, PAX Gold, SALT and XRP in addition to Bitcoin, Ethereum and Litecoin.
- Mobile app release.
- Adding a 100% crime insurance policy for assets held in their cold storage.
- Partnership with Uphold allowing users of the latter platform to secure loans through SALT in less than 24 hours.
Brief Market Analysis of SALT/USD
Further checking Coinmarketcap.com, we find that SALT is currently up 11% in the last 24 hours. The token is currently valued at $0.0768. The entire crypto market is in the green thus providing relief from the market turmoil as a result of the global economic effects of the Coronavirus.
More About SALT
Founded in 2016 by a group of Bitcoin enthusiasts, SALT brings asset-backed lending to the cryptocurrency industry. The name SALT was chosen for the known common asset has long served mankind through the millennia through its. Salt has long being used as a currency and condiment through the ages. The team sees the platform as offering a continuation of this through the various products and services.
(Feature image courtesy of Aron Visuals on Unsplash.)
Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Crypto Gazette or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.
