Share this article
Stargate Finance Token Down 8% on Coinbase Delisting
The cross-chain bridge protocol is migrating to a new smart contract on March 15.
Updated May 9, 2023, 4:09 a.m. Published Mar 8, 2023, 2:16 p.m.
The token (STG) underlying cross-chain bridge protocol Stargate Finance will be delisted by Coinbase (COIN) ahead of the platform's migration to version 2 (v2).
STG is down 7.9% over the past 24 hours, according to Cryptowatch.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
In an email to clients, Coinbase said all trading will be suspended on March 14 at 12 p.m. ET. For now, said the email, STG trading has been moved to limit-only mode, which means that users can't market buy or market sell – they can only add orders to the book.
The decision to delist Stargate Finance, which is built by LayerZero Labs, comes one week before the protocol is migrating the token to a new smart contract. Users holding STG in self-custodied wallets will be airdropped an equivalent amount of STG v2 tokens. Coinbase said that it will not airdrop its users the newly-issued token.
Today's decline adds to the trend lower over the past eight days, with STG now off 38.5% over that period to the current 71 cents. Prior to this bearish action, STG had made a sizable move higher in February, in part thanks to a tie-up with Avalanche-based decentralized exchange Trader Joe.
"I am once again looking for STG borrow $5MM+ it's that time of year again," an anonymous trading firm CEO remarked on Twitter during the February bull run when the price was at $1.09.
More For You
L1 tokens broadly underperformed in 2025 despite a backdrop of regulatory and institutional wins. Explore the key trends defining ten major blockchains below.
What to know:
2025 was defined by a stark divergence: structural progress collided with stagnant price action. Institutional milestones were reached and TVL increased across most major ecosystems, yet the majority of large-cap Layer-1 tokens finished the year with negative or flat returns.
This report analyzes the structural decoupling between network usage and token performance. We examine 10 major blockchain ecosystems, exploring protocol versus application revenues, key ecosystem narratives, mechanics driving institutional adoption, and the trends to watch as we head into 2026.
More For You
Coinbase agrees to buy The Clearing Company to deepen prediction markets push
The deal brings a team with specialized experience building event-based trading systems, including veterans from Polymarket and Kalshi.
What to know:
- Coinbase is acquiring The Clearing Company, a startup with experience in prediction markets, to help grow its newly introduced platform.
- The deal brings in a team with specialized experience building event-based trading systems, including veterans from Polymarket and Kalshi.
- The acquisition is part of Coinbase's plan to become an "Everything Exchange", offering a wide range of trading options, including novel cryptocurrencies, perpetual futures contracts, stocks, and prediction markets.
Top Stories
