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Media Network (MEDIA) experienced a significant crash today, plunging over 60% following its official delisting from Coinbase. The token’s price dropped to a low of $1.68 on April 16, cutting its market capitalization from over $1 million to approximately $430,000. Trading volume also decreased sharply, falling nearly 85% in the last 24 hours as investors rushed to exit their positions.

Coinbase Delists MEDIA

On April 15, 2025, at around 2:00 PM ET, Coinbase halted trading of MEDIA across all its platforms, including Coinbase.com (both Simple and Advanced Trade), Coinbase Exchange, and Coinbase Prime. While trading has ceased, users can still withdraw MEDIA tokens to external wallets.

According to Coinbase, the delisting was the result of a routine asset review aimed at ensuring all listed tokens meet the platform’s standards. Although no specific reason was provided, delistings are often linked to factors such as low trading activity, limited development progress, or potential regulatory concerns.

Steep Decline in MEDIA’s Value

Since Coinbase first announced plans to delist MEDIA on April 1, the token has dropped by 84.5%. From its all-time high of $312.25, MEDIA has now lost over 99% of its value, according to data from CoinGecko.

Key Factors Behind MEDIA’s Decline

  • Lack of Development: The project’s official X (formerly Twitter) account, @Media_FDN, has been inactive since August 2024, raising concerns about the team’s commitment to the project. Additionally, there have been no meaningful updates about the Media Network mainnet launch for nearly a year.
  • Community Frustration: Many users have expressed dissatisfaction with the project’s prolonged silence. The lack of communication and updates has fueled criticism, with some referring to the project as a “scam.”
  • Market Sentiment: MEDIA’s inactivity and failure to deliver on its promises have contributed to waning investor confidence, further exacerbating its downward spiral.

Other Tokens Facing Delistings

MEDIA isn’t the only cryptocurrency impacted by recent delistings. A day earlier, Coinbase suspended trading for other tokens, including Floki, GIGA, and Turbo, specifically for New York State residents. These tokens, primarily memecoins, had surged in popularity following political developments such as Donald Trump’s election victory last year.

The broader market has also been facing challenges. Concerns over potential global trade wars, driven by new tariff policies introduced by Trump, have led to cautious investor behavior and reduced liquidity across both cryptocurrency and traditional financial markets.

What is Media Network?

Launched in 2021, Media Network was a blockchain-based project designed to decentralize content delivery. The platform allowed users to share their internet bandwidth in exchange for MEDIA tokens, creating a peer-to-peer system for content distribution.

The project was reportedly supported by now-defunct Alameda Research, a crypto trading firm founded by Sam Bankman-Fried. According to reports, Alameda participated in a $1 million public token sale hosted on Raydium’s AcceleRaytor platform at $10 per token. All public sale tokens were unlocked at launch, while tokens allocated to the team and advisors were subject to an 18-month lockup with a gradual release schedule.

What’s Next for MEDIA?

With its delisting from Coinbase, Media Network faces an uncertain future. The lack of updates from its development team, coupled with growing frustration from its community, raises questions about the project’s viability. For investors, this serves as a reminder to conduct thorough research and stay informed about the projects they support.

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