An Ethereum-based (ETH) altcoin is free-falling as the largest US-based crypto exchange platform by volume announces its delisting.
In a new announcement, Coinbase says that it’s going to be delisting cross-chain token trading platform Stargate Finance V1 (STG) starting next week as it has failed to live up to listing standards.
“We regularly monitor the assets on our exchange to ensure they meet our listing standards. Based on our most recent reviews, Coinbase will suspend trading for Stargate Finance on March 14, 2023, on or around 12pm Eastern.”
Stablecoin-focused Stargate, which uses a “LayerZero” protocol to quickly facilitate cross-chain token exchanges, is going to be upgrading to its next iteration soon, which Coinbase says will not be supported at this time.
“On March 15, 2023, Stargate Finance [will be] issuing Stargate Finance V2 with a new contract address. Coinbase will not be supporting any airdrop of Stargate Finance (V1 or V2). Coinbase will not be facilitating any upgrade from Stargate Finance V1 to Stargate Finance V2 at this time.”
Coinbase updated its listing policy in 2021 to ensure that the digital assets they’re listing are safe and in compliance with all laws. They did not mention which part of the policy Stargate Finance has failed to live up to.
News of the delisting sent STG crashing. The digital asset went from a seven-day high of $1.04 all the way down to $0.706, a 32% dip. It has since stabilized and is moving for $0.716 at time of writing.
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/YesVideo/INelson
Click Here to Read the Full Original Article at The Daily Hodl…
