Cryptocurrency exchange Coinbase announced in its statement that it will not support the transition of the Metal DAO (MTL) altcoin to its layer-2 blockchain network and will stop trading for this altcoin on its platform on June 14.
Metal DAO (MTL) announced that it would abandon the Ethereum blockchain and migrate to its own layer-2 blockchain, Metal L2, via an airdrop.
The exchange announced that the tokens in question will continue to be withdrawn by users despite the delisting process. However, users need to perform some procedures to switch to the new network by receiving an airdrop from the Layer-2 network.
According to the statement made by Coinbase, the token holders in question must move their MTL tokens on the exchange to cold wallets by June 23 in order to be eligible for the new token airdrop. According to the statement, users who do not move their assets to cold wallets will not be able to access their assets in the new network.
*This is not investment advice.