Main crypto trade Coinbase has introduced the disabling of buying and selling for Steel DAO (MTL) and Enjin Coin (ENJ) on its platform. This motion implies that customers might not be capable of commerce MTL and ENJ on the Coinbase platform.
Whereas buying and selling for Steel DAO (MTL) and Enjin Coin (ENJ) is disabled on the Coinbase platform, person funds will stay accessible to them, and they’ll proceed to have the flexibility to withdraw their funds at any time.
Coinbase’s transfer to halt buying and selling for Enjin coin follows a latest evaluation by which the cryptocurrency trade incessantly opinions the belongings on its platform to make sure they fulfill its itemizing requirements.
Coinbase suspended buying and selling on June 14 for Enjin Coin (ENJ) throughout all of its platforms, together with Coinbase Easy and Superior Commerce, Coinbase Change, Coinbase Prime and Native DEX.
We’ve disabled buying and selling for Enjin Coin (ENJ). Your funds will stay accessible to you, and you’ll proceed to have the flexibility to withdraw your funds at any time. https://t.co/OJQboPjoEh
— Coinbase Property 🛡️ (@CoinbaseAssets) June 14, 2024
On June 4, Steel DAO efficiently handed MIP-00, a proposal outlining its transition to Steel L2, which operates on the Optimism Superchain, much like Base. MTL shall be migrated from the Ethereum mainnet to the Steel L2 through airdrop.
Coinbase has mentioned that it’s going to not be supporting the token airdrop and, therefore, ceased buying and selling for Steel DAO (MTL) on June 14. The stoppage of buying and selling impacts all Coinbase platforms: Easy and Superior Commerce, Coinbase Change, Coinbase Prime and Native DEX.
In an important advisory to MTL holders, Coinbase acknowledged that to be eligible for the airdrop of the V2 MTL token, they need to switch their MTL belongings to a self-custodial pockets that helps MTL V2 by June 23 to make sure entry to the airdropped belongings.
The influence of the Coinbase announcement was evident, with each MTL and ENJ witnessing a 24-hour worth lower, aided by the present market dip. On the time of writing, Enjin Coin was down 3.21%, buying and selling at $0.2196, whereas Steel DAO was down 4.31%, to $1.25.
