bitbank will discontinue support for Enjin Coin (ENJ) at 10:00 a.m. on 16 October. The decision was made because the price divergence between ENJ on Ethereum and ENJ on its own chain has continued, making it impossible to maintain orderly price formation.
The cryptocurrency exchange bitbank announced that it will discontinue support for ENJ. Trading in the cryptocurrency ENJ is expected to end by 10:00 a.m. on 16 October.
The discontinuation follows continued price divergence between ENJ on Ethereum and ENJ on the Enjin Relays Chain. The company determined that price formation between the two markets was unstable and that maintaining a fair price would be difficult.
The company also explained that the collateral valuation ratio for margin trading will be changed to 0% on 30 September. Holdings left unattended will be automatically converted into Japanese yen.
Based on the official announcement issued on the same day, the article reports the specific timing of the discontinuation and the subsequent processing arrangements.