Bitbank to end ENJ support on October 16 over price divergence
- —From October 16, Bitbank will halt ENJ deposits and withdrawals, new orders and recurring purchases
- —From September 30, ENJ's collateral valuation in margin trading will be cut from 50% to 0%
- —The exchange will sell remaining ENJ at market and credit JPY within a month
- —If a sale is impossible, ENJ will be held for 5 years with the right to return on request
Why it matters: The delisting of ENJ on a major Japanese exchange pressures the token's liquidity and price, and signals problems with cross-chain versions of the asset.
Source: CoinPost