Necessary crypto switch Coinbase has announced the disabling of trading for Metal DAO (MTL) and Enjin Coin (ENJ) on its platform. This motion implies that customers might merely no longer be in a situation to commerce MTL and ENJ on the Coinbase platform.
Whereas trading for Metal DAO (MTL) and Enjin Coin (ENJ) is disabled on the Coinbase platform, particular person funds will dwell accessible to them, and they’ll proceed to bear the flexibility to withdraw their funds at any time.
Coinbase’s high-tail to terminate trading for Enjin coin follows a fresh review in which the cryptocurrency switch in most cases evaluations the belongings on its platform to fabricate optimistic that they fulfill its itemizing requirements.
Coinbase suspended trading on June 14 for Enjin Coin (ENJ) right thru all of its platforms, along side Coinbase Easy and Evolved Trade, Coinbase Trade, Coinbase Top and Native DEX.
We bear disabled trading for Enjin Coin (ENJ). Your funds will dwell accessible to you, and likewise you will proceed to bear the flexibility to withdraw your funds at any time. https://t.co/OJQboPjoEh
— Coinbase Resources 🛡️ (@CoinbaseAssets) June 14, 2024
On June 4, Metal DAO successfully handed MIP-00, a proposal outlining its transition to Metal L2, which operates on the Optimism Superchain, just like Harmful. MTL will likely be migrated from the Ethereum mainnet to the Metal L2 thru airdrop.
Coinbase has mentioned that this won’t be supporting the token airdrop and, hence, ceased trading for Metal DAO (MTL) on June 14. The stoppage of trading impacts all Coinbase platforms: Easy and Evolved Trade, Coinbase Trade, Coinbase Top and Native DEX.
In a in point of fact distinguished advisory to MTL holders, Coinbase acknowledged that to be eligible for the airdrop of the V2 MTL token, they must transfer their MTL belongings to a self-custodial pockets that helps MTL V2 by June 23 to fabricate optimistic that pick up admission to to the airdropped belongings.
The impact of the Coinbase announcement used to be evident, with each MTL and ENJ witnessing a 24-hour designate lower, aided by the fresh market dip. On the time of writing, Enjin Coin used to be down 3.21%, trading at $0.2196, whereas Metal DAO used to be down 4.31%, to $1.25.
