The post Coinbase Halts Trading for Enjin Coin (ENJ), Ensuring Fund Withdrawals Remain Open appeared on BitcoinEthereumNews.com.

Coinbase, one of the leading cryptocurrency exchanges, has revealed the cessation of trading for Metal DAO (MTL) and Enjin Coin (ENJ) on its platform. Despite this suspension, users retain access to their funds and can withdraw them anytime. Enjin Coin trading was halted as part of Coinbase’s routine asset evaluation process to ensure compliance with its listing criteria. Coinbase halts MTL and ENJ trading; user funds remain secure and withdrawable. Coinbase Ceases Trading for Metal DAO and Enjin Coin Coinbase has taken a significant step by disabling the trading of Metal DAO (MTL) and Enjin Coin (ENJ) across its range of platforms. This technological move ensures users can no longer execute trades involving MTL and ENJ on Coinbase, although their funds will continue to be safely accessible. This decision is part of Coinbase’s frequent evaluations conducted to ascertain that all listed assets satisfy its rigorous standards. The Findings from Coinbase’s Recent Asset Review As part of its continuous monitoring and evaluation processes, Coinbase determined that Enjin Coin no longer met the criteria required to be traded on its platform. Consequently, trading of ENJ has been suspended on all Coinbase services including Simple and Advanced Trade, Coinbase Exchange, Prime, and Native DEX, effective from June 14, 2024. Metal DAO’s trading was similarly halted following the strategic realignment announced through MIP-00 for transitioning MTL to Metal L2, operating on the Optimism Superchain. Strategic Implications for Metal DAO Token Holders Metal DAO token holders have been advised by Coinbase regarding the implications of the suspension. To be eligible for the MTL V2 token airdrop, holders must move their tokens to a compatible self-custodial wallet by June 23. This step is crucial for ensuring access to the new V2 tokens, as Coinbase will not support the airdrop service directly. Such transitions align with broader…

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Filed under: News - @ June 16, 2024 5:28 pm