Media Network (MEDIA) plummeted to $1.58 on April 16, slashing its market capitalization from over $1 million to approximately $430,000. This sharp decline was accompanied by an 85% drop in trading volume within 24 hours, as investors rushed to exit their positions.
The downturn followed Coinbase’s decision to officially delist MEDIA on April 15, 2025, at around 2:00 PM ET. Trading was suspended across all Coinbase platforms, including Coinbase.com (Simple and Advanced Trade), Coinbase Exchange, and Coinbase Prime. While users can no longer trade MEDIA on the platform, withdrawals to external wallets remain available.
Coinbase explained that the delisting was the result of a routine asset review conducted to ensure that all tokens continue to meet its listing standards. Although the exchange did not provide a specific reason for MEDIA’s removal, such decisions are often linked to low trading activity, a lack of ongoing development, or potential regulatory concerns.
We have disabled trading for Media Network (MEDIA). Your funds will remain accessible to you, and you will continue to have the ability to withdraw your funds at any time. https://t.co/gynzbthAep
— Coinbase Assets ????️ (@CoinbaseAssets) April 15, 2025
The delisting wasn’t a surprise for some, as Coinbase had already announced its intention to drop MEDIA on April 1. The announcement sparked a steep sell-off, with the token crashing by 84.5% since then. According to CoinGecko data, MEDIA has now lost over 99% of its value from its all-time high of $312.25.
The token’s downward spiral was further compounded by the lack of communication from its development team. Despite launching on the Base network in March 2024, MEDIA quickly lost steam as developers failed to deliver updates or engage with the community. Many users have expressed frustration over the radio silence, blaming the team’s disappearance for the token’s collapse.
While winding down MEDIA support, Coinbase is also looking to broaden its product suite. The exchange has filed with the U.S. Commodity Futures Trading Commission (CFTC) to offer futures contracts for Ripple’s XRP token. This move aims to provide a regulated path for traders seeking exposure to one of the crypto market’s most liquid digital assets.
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