Coinbase Delists Enjin Coin and Metal DAO, Trading Halted

• Coinbase, the largest cryptocurrency exchange in the United States, has officially delisted two altcoins.
• The exchange had previously announced its plan to remove Enjin Coin (ENJ) and Metal DAO (MTL) from its trading platform.
• Coinbase confirmed the delisting via Twitter, stating that trading for both altcoins has been disabled.

Coinbase has officially delisted Enjin Coin and Metal DAO, impacting their market prices and causing a notable reaction among cryptocurrency enthusiasts.

Enjin Coin and Metal DAO Delisted by Coinbase

Coinbase has enacted its plan to delist Enjin Coin (ENJ) and Metal DAO (MTL), a decision initially announced two weeks prior. The exchange clarified through a Twitter announcement on June 14 that trading for both ENJ and MTL has been completely disabled. Despite the delisting, users retain access to their funds and the ability to withdraw at any time.

Market Response and Price Impact

The removal of these altcoins from Coinbase has had a significant impact on their market value. According to CoinGecko data, Enjin Coin experienced a 4% decline in the past 24 hours, trading at $0.219. Similarly, Metal DAO saw a 4.3% drop, with its price falling to $1.24. These price movements suggest a bearish sentiment among investors following the delisting announcement.

Future Steps for Coinbase Users

Coinbase has assured its users that they will maintain access to their ENJ and MTL holdings and can withdraw their funds without any restrictions. However, the exchange has not provided a specific timeline for when users should complete their withdrawals. This ongoing uncertainty means that investors may need to stay vigilant for any further updates from Coinbase.

Conclusion

The delisting of Enjin Coin and Metal DAO by Coinbase marks a significant development in the cryptocurrency market. While users can still access and withdraw their funds, the immediate impact has been a downturn in the prices of both altcoins. Investors should monitor the situation closely for any additional announcements from Coinbase regarding the future handling of these assets.