The MEDIA crypto token experienced a sharp decline, losing over 60% of its value after prominent crypto exchange Coinbase halted all trading activities for the digital asset.
Media Network (MEDIA) saw its price fall to a low of $1.68 on April 16. This collapse slashed its market capitalization from above $1 million down to approximately $430,000. Concurrently, trading volume decreased by nearly 85% within 24 hours as investors moved quickly to liquidate their holdings.
Coinbase ceased trading for MEDIA on April 15, 2025, around 2:00 PM ET. The suspension impacted Coinbase.com (Simple and Advanced Trade), Coinbase Exchange, and Coinbase Prime services. While trading is no longer possible on the platform, users retain the ability to move their MEDIA tokens to an external best crypto wallet.
According to a statement from Coinbase, the decision came after a standard review process to ensure listed assets meet platform requirements. Although Coinbase didn’t specify the exact cause, common reasons for delisting include insufficient trading volume, stalled project development, or potential regulatory issues.
The exchange had initially signaled its intent to delist MEDIA on April 1. Since that announcement, the token’s value has fallen by 84.5%. Data from CoinGecko shows MEDIA has depreciated by over 99% from its peak price of $312.25, highlighting the significant risks in volatile altcoin markets.
Concerns were amplified by the project’s apparent lack of progress. The official X account (@Media_FDN) hasn’t shown activity since August 2024. Furthermore, significant updates regarding the anticipated Media Network mainnet launch have been absent for almost a year.
MEDIA debuted on the Base blockchain in March 2024. However, the development team has faced criticism for limited communication and engagement post-launch. Disappointed users point to this prolonged silence as a major factor contributing to the token’s sharp downturn, with some labeling the project negatively online.
This delisting isn’t an isolated event for Coinbase. The exchange recently suspended trading for Floki, GIGA, and Turbo for residents of New York State. These memecoins had previously seen substantial gains following Donald Trump’s election victory last year.
These actions occur amidst broader market instability. Concerns over potential global trade conflicts sparked by new U.S. tariff policies have led to increased investor caution, impacting liquidity in both cryptocurrency and traditional financial markets.
Understanding Media Network
Launched in 2021, Media Network aimed to build a decentralized content delivery network (dCDN). The blockchain project intended for users to contribute bandwidth in return for MEDIA tokens, fostering a peer-to-peer ecosystem.
Crypto fundraising tracker ChainBroker indicated that the project received backing from Alameda Research, the now-bankrupt trading firm associated with Sam Bankman-Fried. Alameda was noted as the sole listed investor, supporting a $1 million public token sale on Raydium at $10 per MEDIA token.
Tokens from the public sale were fully unlocked upon launch. In contrast, tokens allocated to the team and advisors were subject to an 18-month lockup period followed by a phased release.