MEDIA took a nosedive in the present day, dropping over 60% after Coinbase formally delisted the token from all its platforms.
Media Network (MEDIA) sank to as little as $1.68 on April 16, reducing its market cap from over $1 million to round $430,000. Buying and selling quantity additionally plunged practically 85% within the final 24 hours as customers rushed to exit.
Coinbase pulled the plug on MEDIA on April 15, 2025, at round 2:00 PM ET, halting buying and selling throughout a number of providers, together with Coinbase.com (each Easy and Superior Commerce), Coinbase Change, and Coinbase Prime. Whereas customers can not commerce MEDIA on Coinbase, they will nonetheless withdraw their tokens to exterior wallets.
In accordance with Coinbase, the delisting adopted a routine asset evaluate meant to make sure all tokens met its itemizing requirements. Whereas no particular purpose was given, tasks typically get delisted as a result of low buying and selling exercise, slowed growth, or attainable regulatory issues.
Coinbase first introduced plans to drop MEDIA on April 1, and since then, the token has dropped by 84.5%. From its all-time excessive of $312.25, MEDIA has misplaced greater than 99% of its worth per CoinGecko.
Additional, the venture’s lack of progress has additionally raised purple flags. Its official X account, @Media_FDN, has been inactive since August 2024, and there have been no significant updates concerning the Media Network mainnet launch for practically a 12 months.
MEDIA went reside on Base in March 2024, however builders have since didn’t share any developments or interact with the neighborhood. Annoyed customers have criticized the workforce for disappearing post-launch, with many blaming the extended silence for the token’s downfall.
In the meantime, MEDIA isn’t the one token affected by a current delisting, as Coinbase additionally suspended buying and selling for Floki, GIGA, and Turbo a day earlier, particularly for New York State residents, all memecoins that noticed large features following Donald Trump’s election win final 12 months.
These delistings come throughout a shaky time available in the market. Trump’s new tariff insurance policies towards main commerce companions have raised fears of a worldwide commerce battle, resulting in cautious investor conduct and shrinking liquidity throughout each crypto and conventional markets.
What’s Media Network?
Launched in 2021, Media Network was a blockchain-based venture that aimed to decentralize how on-line content material is delivered. It lets customers share their web bandwidth in change for MEDIA tokens, creating an open, peer-to-peer system for content material supply.
The venture was reportedly backed by now-defunct Alameda Analysis, the crypto buying and selling agency based by Sam Bankman-Fried, in response to crypto fundraising tracker platform ChainBroker. Alameda was the one listed investor and supported a $1 million public token sale on Raydium’s AcceleRaytor platform at $10 per token.
All public sale tokens have been unlocked at launch, whereas tokens for the workforce and advisors had an 18-month lockup with gradual launch after that.
