Coinbase News: In a recent turn of events, Coinbase Global, the largest trading platform for digital assets in the U.S., announced that it would be suspending the trading of six major cryptocurrencies from its platform. This comes after a routine internal review was carried out by the exchange for the month of March.
In a recent tweet, Coinbase publicly stated that they periodically monitor the assets on the exchange to ensure they fulfill their listing standards. As a result of this assessment as well as subsequent reviews, the exchange has therefore come to the conclusion of suspending the trade of six altcoins which include Rally (RLY), DFI Money (YFII), Mirror (MIR), OMG Network (OMG), Loom Network (LOOM), & Augur (REP).
Read More: Top AI Crypto Coins To Buy Amid GPT-4 Release
According to the crypto exchange, trading will be suspended across all levels of trading, including basic and advanced levels, and across all platforms, including Coinbase Pro, Coinbase Exchange, and Coinbase Prime. Despite this, customers will continue to have access to the funds they have on deposit, and will be able to make withdrawals whenever they choose to. The date of March 29, 2023 has been selected as the exact moment when the suspension will take effect.
In response to the Coinbase delisting news, prices for all six cryptocurrencies experienced a substantial decline. Within a matter of minutes, Augur, which boasts a market cap of $91 million witnessed a sharp fall of 2%, and is currently trading at $8.2.
On the other hand, DFI Money and OMG Network suffered a similar drop of 1% and 1.12%, respectively, within the same time frame. Meanwhile, the native token of the Loom Network, LOOM, outperformed the other tokens by increasing 0.25% in the past half an hour.
Also Read: Bitcoin’s Price Raises Concern As Market Stands Divided On Upcoming Interest Rate Hike
In its Bitcoin buying spree, Strategy continues to attract new funds via its STRC preferred…
U.S. President Donald Trump has now diversified his financial footprint into crypto stocks from real…
Bhutan’s Bitcoin movements have come into the spotlight again. The scrutiny comes due to the…
Grayscale Investments has advanced its plans to launch a spot BNB ETF available in the…
The crypto market continued plunging after unfavorable macroeconomic data. It erased the gains that came…
Michael Saylor's Strategy, previously MicroStrategy, has announced plans for a major debt repurchase plan today…