{"id":42365,"date":"2024-11-29T16:34:21","date_gmt":"2024-11-29T16:34:21","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/celo-momentum-weakens-as-coinbase-declines-support-for-celos-migration-to-l2\/"},"modified":"2024-11-29T16:34:21","modified_gmt":"2024-11-29T16:34:21","slug":"celo-momentum-weakens-as-coinbase-declines-support-for-celos-migration-to-l2","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/celo-momentum-weakens-as-coinbase-declines-support-for-celos-migration-to-l2\/","title":{"rendered":"CELO momentum weakens as Coinbase declines support for Celo\u2019s migration to L2"},"content":{"rendered":"

(Originally posted on : Invezz )<\/b>
\n<\/p>\n

<\/div>\n

Layer 1 blockchain Celo (CELO) will migrate to layer 2 on 16 January 2025. <\/p>\n

The move, which has been ongoing for over a year, signals the increasing interest in L2 solutions to fight efficiency and scalability issues.<\/p>\n

Meanwhile, Coinbase\u2019s latest announcement to clients ahead of the transition has triggered conversations within the cryptocurrency community.<\/p>\n

The leading crypto exchange confirmed that it will not support the migration. <\/p>\n

The trading platform urged clients to cash out their Celo L1 coins by 13 January 2025 \u201cto prevent funds becoming inaccessible.\u201d <\/p>\n

\n
\n
\n
<\/p>\n
\"Coinbase<\/div>\n
\n
<\/div>\n<\/div>\n

<\/a><\/p>\n

<\/p>\n
Coinbase Assets \ud83d\udee1\ufe0f<\/span><\/div>\n
<\/div>\n

<\/a><\/p>\n

@CoinbaseAssets<\/span><\/a><\/p>\n
\u00b7<\/span>Follow<\/a><\/div>\n<\/div>\n<\/div>\n

<\/a><\/div>\n

The Celo L1 blockchain (Coinbase ticker: CGLD) is migrating to Celo L2 on January 16, 2025.
\nCoinbase will not support the migration. Due to migration by hard fork, customers must withdraw CGLD from Coinbase by January 13, 2025 to prevent funds becoming inaccessible.
\n\ud83e\uddf5 \u2b07\ufe0f<\/span><\/p>\n

8:01 PM \u00b7 Nov 27, 2024<\/a><\/a><\/div>\n
<\/p>\n
<\/div>\n

263<\/span><\/a><\/p>\n

<\/div>\n

Reply<\/span><\/a>