EUL is working through a Phemex exchange delisting

, dipping roughly

↘3%

over the past 24 hours while monthly gains of

↗2.6%

still provide a cushion.

One exchange delisting creates pressure

The Phemex delisting

triggered selling over the past 24 hours, with blockchain data showing investors moving tokens to exchanges and offloading positions at a loss — though EUL remains available on other platforms.

Broader market headwinds weigh

Layer 2 tokens fell roughly

↘11%

over the past 24 hours as

and bond yields climbed, creating a tough environment across crypto.