An Ethereum-based (ETH) altcoin has gone into free fall after the largest US-based crypto exchange platform by volume announced it was delisted. Cross-chain token trading platform starting next week as it fails to meet listing standards, Coinbase announced in a new announcement. stargate announced that it will delist Finance V1 (STG).
“We regularly monitor assets on our exchange to make sure they meet our listing standards. Based on our most recent reviews coinbaseTrading for Stargate Finance will be suspended on March 14, 2023.
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Stablecoin-focused Stargate, which uses a “Layer Zero” protocol to quickly facilitate cross-chain token exchanges, will soon move to its next iteration, which Coinbase says will not be supported at this time.
“On March 15, 2023, Stargate Finance will launch Stargate Finance V2 with a new contract address. Coinbase will not support any airdrop of Stargate Finance (V1 or V2). Coinbase will not facilitate any upgrades from Stargate Finance V1 to Stargate Finance V2 at this time.”
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Koinfinans.com As we reported, Coinbase updated its listing policy in 2021 to ensure that the digital assets they list are secure and comply with all laws. They did not mention what part of the policy Stargate Finance failed to meet.
The news of his removal from the list collapsed STG. The digital asset fell 32% from a seven-day high of $1.04 to as low as $0.706. It has stabilized since then. It is moving to $0.716 at the time of writing.