Coinbase has suspended trading for Ronin as the network begins its migration to a new Ethereum layer-2 (L2) network. The exchange confirmed that while RONIN trading is disabled, user funds remain accessible for withdrawal until the migration date is finalized. Users are responsible for transferring their tokens to a compatible self-custodial wallet, as Coinbase will not support the migration on their behalf.
The migration is part of Ronin's roadmap to transition from a gaming-focused Ethereum sidechain to a full-fledged L2 network, enhancing transaction speed and security. Despite the trading suspension, RONIN's price remained stable, trading around $0.0839 with a market cap of approximately $64.5 million, indicating the market had anticipated the transition.
Coinbase Halts Ronin Trading Amid Ethereum L2 Migration
Disclaimer: The content provided on Phemex News is for informational purposes only. We do not guarantee the quality, accuracy, or completeness of the information sourced from third-party articles. The content on this page does not constitute financial or investment advice. We strongly encourage you to conduct you own research and consult with a qualified financial advisor before making any investment decisions.
