Cryptocurrency exchange Coinbase has announced its decision to remove the Polymath (POLY) altcoin from its platform. The delisting comes as a result of Coinbase's continuous evaluation of cryptocurrencies to ensure they adhere to listing standards while being traded on their platform.
Furthermore, Coinbase disclosed that the POLY token will be transitioning from the Ethereum network to its proprietary network called Polymesh Network (POLYX). Importantly, they emphasized that they currently have no intentions of supporting the POLYX network, citing it as a primary reason for the delisting.
Following this announcement, the market value of the altcoin, which stands at a significant $183 million, experienced a decline.
