Coinbase Halts Trading of Two Crypto Tokens: Here's Why

Coherent crypto marketplace Coinbase has revealed the devitalizing of trading for Metal DAO (MTL) and Enjin Coin (ENJ) on its system. This ordinance implies that borrowers can no much longer be able to trade MTL and ENJ on the Coinbase system.

While trading for Metal DAO (MTL) and Enjin Coin (ENJ) is paralyzed on the Coinbase system, user funds will certainly stick about readily accessible to them, and they will certainly continue to have the chance to withdraw their funds at any time.

Coinbase’s gliding to halt trading for Enjin coin complies with a recent swipe one more sift at in which the cryptocurrency marketplace sometimes revisits the assets on its system to ensure they satisfy its listing standards.

Coinbase suspended trading on June 14 for Enjin Coin (ENJ) across all of its lookouts, entailing Coinbase Humble and Evolved Profession, Coinbase Exchange, Coinbase Prime and Indigenous DEX.

On June 4, Metal DAO successfully passed MIP-00, a proposition clarifying its transition to Metal L2, which operates on the Optimism Superchain, tantamount to Underpinning. MTL will certainly be slid from the Ethereum mainnet to the Metal L2 through airdrop.

Coinbase has claimed that it will certainly not be affirming the token airdrop and, for this verification, stopped trading for Metal DAO (MTL) on June 14. The deduction of trading affects all Coinbase lookouts: Humble and Evolved Profession, Coinbase Exchange, Coinbase Prime and Indigenous DEX.

In a critical consultatory to MTL holders, Coinbase claimed that to be eligible for the airdrop of the V2 MTL token, they ought to send their MTL assets to a self-custodial budget that maintains MTL V2 by June 23 to ensure access to the airdropped assets.

The brunt of the Coinbase news was final alert, with both MTL and ENJ witnessing a 24-hour price subdue, aided by the present market dip. At the time of writing, Enjin Coin was down 3.21%, trading at $0.2196, while Metal DAO was down 4.31%, to $1.25.