Coinbase Axes IoTeX Trading Amid Market Collapse

Coinbase has suspended trading for IoTeX (IOTX), a blockchain project focused on decentralized physical infrastructure. The exchange disabled IOTX trading after announcing the suspension in late August.

According to Coinbase, customers are not losing access to their tokens and can still withdraw them. However, the decision to suspend trading follows a significant market collapse for IOTX, with its value down around 85% over the past year.

The IoTeX team has attempted to reassure holders that their IOTX remains accessible and can be withdrawn. The project also announced a 1:1 conversion route for holders of legacy ERC-20 IOTX on Coinbase who want to move to native IOTX.