Kraken has stopped supporting namecoin from their exchange on May 23, 2016 while reassessing which coins were worth keeping and which would be worth the additional effort to maintain.
The San Francisco based company said that those clients with Namecoin balances should withdraw their funds as soon as possible as it is no longer possible to deposit or trade Namecoin on the exchange. This decision came as a result of namecoin’s low trading volume on the exchange.
Kraken has been long supporting Namecoin in various ways, including merged mining, finding a fatal flaw and encouraging people to trade with near 0 fees for a prolonged period of time. They have even supported it through merged mining on Maxbtc.com which is Payward’s old mining pool, but the trading volumes didn’t seem to increase.
Unfortunately, their efforts were not enough to acquire the loyalty of the Namecoin trading community. As a result, the revenues from trading Namecoin, and the interest from our clients, have not been sufficient to justify the continued support.
The current market cap of Namecoin(NMC) is $ 5,076,643
Kraken founded in 2011 is the world’s largest global bitcoin exchange in euro volume and liquidity. Kraken’s clients also trade US dollars, Canadian dollars, British pounds, Japanese yen and other digital currencies on a platform consistently rated the best and most secure bitcoin exchange by independent news media.
