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Coinbase suspends trading of these two cryptocurrencies, prices fell by 15%
Crypto exchange Coinbase in a surprising move, announced on Friday the suspension of trading of Enjin Coin (ENJ) from mid-June. As a result, the price of ENJ fell by 10% in a matter of hours, with the decline extending to over 13% in the last 24 hours. The crypto exchange also announced a suspension of metal trading (MTL), causing prices to drop by more than 8%.
Coinbase announces suspension of ENJ and MTL exchanges
In the latest articles on X on May 31, Coinbase announced that it would suspend trading in Enjin Coin (ENJ) based on recent reviews. Users will not be able to trade Enjin Coin (ENJ) starting around 2 p.m. ET on June 14.
“We regularly monitor assets on our exchange to ensure they meet our listing standards,” Coinbase said, citing the reasons for the suspension.
Notably, trading will be suspended on Coinbase Simple and Advanced Trade, Coinbase Exchange, Coinbase Prime and Native DEX. This indicates a global withdrawal of Enjin Coin from the crypto exchange, raising concerns among ENJ holders as they panic sell their tokens.
Coinbase also said it has moved ENJ order books to limit-only mode. This would allow limit orders to be placed and canceled, and matches could take place.
ENJ price has fallen by over 15% in the last 24 hours, with the price currently trading at $0.3101.
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Metal Dao (MTL) price plunges 9%
Coinbase asked users to transfer their MTL tokens to a self-custodial wallet which will support MTL V2 by June 23 at 11 p.m. ET to ensure access to airdropped assets. “If you do not transfer your MTL assets before this date, you will not be able to access V2 assets,” the exchange claims.
Coinbase will not support MTL token airdrops. It will suspend trading in Metal DAO (MTL) at 2 p.m. ET on June 14. Exchanges have moved MTL order books to limit-only mode, similar to Enjin Coin (ENJ).
The price of MTL has fallen by 9% in the last 24 hours, with the price currently trading at $1.77. The 24-hour low and high are $1.76 and $1.92, respectively. Furthermore, trading volume decreased by 42% in the last 24 hours, indicating a decline in trader interest.
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