Coinbase Will Suspend Trading of Five Tokens, Including GAL, LIT, and DAR, on May 16

Coinbase, a trusted and regulated cryptocurrency exchange, is suspending trading for five tokens: Galxe (GAL), Litentry (LIT), Mines of Dalarnia (DAR), Orion Protocol (ORN), and PARSIQ (PRQ).

The trading halt will begin on May 16 at approximately 2 PM ET across all Coinbase platforms, including Coinbase.com, Coinbase Exchange, and Coinbase Prime.

The affected token pairs are:

• BTC

• ETH

• LIT

• ORN

As Coinbase explains in a blog post, this decision isn’t due to poor performance or security issues. Instead, it has to do with token versions. Each of these projects has released new versions of their tokens.

“This means that the original versions listed on Coinbase are now considered outdated and no longer meet our listing standards,” the exchange said.

Coinbase is committed to providing a safe, reliable, and transparent environment for its users. When tokens undergo major upgrades or migrate to new contracts, the older versions can create complications or cease to function optimally.

Therefore, Coinbase is removing these older tokens from trading to prevent any potential problems and maintain a seamless user experience.

Coinbase has already moved all five token pairs to limit-only mode in anticipation of the suspension. In this mode, users can still place or cancel limit orders, and trades may occur. However, market orders and advanced trading types are not supported.

Coinbase is advising users who hold any of these five tokens to withdraw or convert them before May 16. Following the suspension, users will no longer be able to trade these tokens on Coinbase.