Coinbase, one of the largest cryptocurrency exchanges, made a delist announcement at night. According to the announcement, processes will be suspended for four altcoins. Here are the details…
Coinbase made a delist announcement
Koindeks.com As we have also reported, Coinbase, the largest stock exchange in the USA, gave the delist news for four altcoins. According to his statement at night, mStable (MUSD), Rari Governance Token (RGT), Tribe (TRIBE) and Pawtocol (UPI) are delisted. These cryptocurrencies will be delisted from 4 November 2022, 19:00 CEST. Processes will be suspended. Even though the buy and sell processes will be stopped, the deposit and withdrawal processes will not be affected.
At the time of writing, MUSD, which is actually a US dollar-pegged stablecoin, is changing hands at $1, down 0.1 percent. Rari Governance fell to $1.51, a 22.6 percent loss. The cryptocurrency had fallen from $1.97 to $1.25 during the day. Behind this decline, Coinbase’s delist announcement may be.
TRIBE, on the other hand, has lost 1.6 percent in the last 24 hours. The cryptocurrency is changing hands at $0.212. It dropped from the daily high of $0.215 to $0.209. Finally, Pawtocol, like RGT, lost more than 20 percent in value. The cryptocurrency fell from $0.00995 to $0.0072.
Exchange plans to grow USDC stablecoin
Meanwhile, Coinbase announced that it has opened board trading for non-USD fiat currency purchasers of USDC to increase its use outside of the US. San Francisco-based exchange Coinbase is building services for USDC access outside the US in an effort to “increase economic freedom in the world.” The exchange wants to reduce the obstacles to the use of stablecoins by establishing global parity for all users.
This means that Coinbase will remove committee prices when customers buy or sell USDC via any non-USD fiat currency on Coinbase. This will help expand the presence of UDSC, which is already a strong stablecoin in the market. Coinbase states that unlike other fiat currencies, the dollar is purchased at three times the amount of USDC. They concluded that the associated process prices were the factor preventing the stablecoin from being used more frequently.
Coinbase is working hard to build a more global presence while competing with platforms like Binance. The exchange has recently acquired a crypto license in Singapore, which will allow them to operate in the country. USDC has quickly become a strong stablecoin in the market and now competes with UDST. The CEO of Circle, behind USDC, also said that the stablecoin is in its strongest financial position ever.