Coinbase To Delist Five Tokens Due to System Upgrades

Coinbase, a leading crypto exchange known for its strict compliance and user protection , has announced plans to delist some tokens from its platform. These affected tokens include Galxe (GAL), Litentry (LIT), Mines of Dalarnia (DAR), Orion Protocol (ORN), and PARSIQ (PRQ). The trading suspension for these selected tokens will begin on May 16, 2025. As revealed, this change will apply across all Coinbase services, including Coinbase.com, Coinbase Exchange, and Prime. Coinbase To Remove Outdated Tokens Unlike past delistings triggered by poor performance or security concerns , Coinbase’s decision is based on token upgrades. According to the exchange, each project has launched a new version of its token. The tokens listed on the trading platform are outdated and no longer meet the platform’s listing standards. The crypto exchange wants to ensure it only supports active and up-to-date tokens that work correctly on its platform. The old version might stop working when a token gets a significant upgrade or changes its smart contract. This can lead to technical problems and affect trading accuracy, especially when users try to trade or move them. As a result, the company is taking steps to maintain a smooth and secure trading environment. Like Coinbase, popular crypto exchanges like Binance and Uphold regularly delist crypto tokens. This is part of their approach to maintaining a robust and compliant platform. Limiting Trading for Outdated Tokens Coinbase has already taken an early step to help users prepare for the change. The five tokens have been moved to l imit-only mode, a temporary change that allows users to place or cancel limit orders. Some trades might still go through, but more complex trading options, like market orders or advanced tools, are no longer available for these tokens. This change is meant to give users time to manage their holdings before the full suspension takes effect. Coinbase Urges Users To Take Action The crypto exchange advised its users holding outdated tokens to act appropriately before the May 16 deadline. After this date, trading for these tokens will no longer be supported on the platform. Users can withdraw their tokens to an external wallet supporting the updated versions or convert them into other supported assets. While the outdated tokens will still appear in users’ Coinbase wallets, they will no longer be tradable following the suspension. The post Coinbase To Delist Five Tokens Due to System Upgrades appeared first on TheCoinrise.com .

Source: The Coin Rise