Coinbase Announces Suspension of Trading for Five Altcoins, Citing Token Upgrades
04.05.2025 00:42
3 sources
negative
Coinbase, a leading cryptocurrency exchange, revealed it will suspend trading for five altcoins: Galxe (GAL), Litentry (LIT), Mines of Dalarnia (DAR), Orion Protocol (ORN), and PARSIQ (PRQ). The stated reason is the existence of new versions of these tokens, although details are unclear and it's unknown if the updated tokens will remain listed. The announcement has created uncertainty among investors and users of these coins. Coinbase stated that further details will be provided as more information becomes available.
Suspension likely triggers sell pressure and short-term price drop due to uncertainty. Longer-term effects depend on relisting of new version and user clarity.
Negative sentiment and uncertainty likely drive price down in the short term; long-term outlook depends on Coinbase's future actions regarding the token.
Immediate drop expected as users react to delisting; potential recovery hinges on communication about the new token version and possible relisting.
Trading halt and unclear future on Coinbase prompt negative pressure; price may rebound if a re-listing occurs or details clarify.
Short-term volatility and bearish sentiment expected due to trading suspension; outcome depends on update clarity and Coinbase reconsideration.
Sources
Coinbase to Delist Five Tokens on May 16
bitcoininfonews.com
03.05.2025 17:49
Coinbase Names 5 Cryptocurrencies to Be Delisted: Details
u.today
03.05.2025 10:38
BREAKING: Coinbase Makes Confusing Delisting Announcement for 5 Altcoins
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02.05.2025 16:31
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