Coinbase Assets has announced the suspension of trading for Galxe, Litentry, Mines of Dalarnia, Orion Protocol, and PARSIQ tokens on May 16, 2025. This follows the migration to new token versions.
Suspension of Token Trading
Coinbase has decided to suspend trading for the tokens GAL, LIT, DAR, ORN, and PRQ from May 16, 2025. This decision comes after these tokens were upgraded to new versions that no longer meet the exchange's listing criteria. This action reflects Coinbase's commitment to security and compliance.
Impact on Traders and Investors
The immediate implications involve a temporary disruption for traders holding the delisted tokens. Investors will need to transition to the latest token versions, which is standard practice during major blockchain migrations. There have been no official statements from project teams or influential industry figures regarding the delisting, suggesting that it is seen as routine.
Historical Data and Market Trends
In 2021, Coinbase delisted Enjin following its token upgrade, highlighting the platform's consistent alignment with protocols. According to CoinMarketCap, Galataasaray Token (GAL) is trading at $3.70 with significant trading volume growth, indicating a market rebound.
The suspension of trading tokens on Coinbase is part of the platform's efforts to maintain current listings and may impact market activities as investors adjust to the changes.
