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AI 
AXS 
BLUR 
MEME 
SAND 
SPX 
ZRO 
ZORA Coinbase News: Coinbase will suspend perpetual futures trading
Ten tokens are about to lose their leveraged trading capabilities overnight, and traders are not waiting for the situation to develop. According to Coinbase's official announcement, the exchange confirmed that it will suspend perpetual futures trading around 13:00 UTC on August 26, cutting off the leveraged trading rights of MEME, SAND, BIRB, BLUR, KAT, SPX, ZORA, AXS, AI and ZRO at one time. Within hours of the news release, the relevant charts began to fluctuate.
What happened
Coinbase's announcement was short and direct: Ten perpetual futures contracts will be removed on a fixed date. This latest message does not set a warning level or a buffer period for phasing out. It only stipulates a hard termination at 13:00 UTC on August 26. For an exchange of the size of Coinbase, it is rare to cut so many perpetual contracts in the same announcement at once. Most removal actions are carried out step by step one or two, but this time it is a whole batch process.
Ten contracts listed on the list
The following is the list of suspended contracts released by Coinbase itself:
Memecoin (MEME-PERP)
The Sandbox (SAND-PERP)
Moonbirds (BIRB-PERP)
Blur (BLUR-PERP)
Katana (KAT-PERP)
SPX6900 (SPX-PERP)
ZORA (ZORA-PERP)
Axie Infinity (AXS-PERP)
Gensyn (AI-PERP)
LayerZero (ZRO-PERP)
On closer inspection, there is no clear thematic connection between these contracts. Established NFT-era projects such as Moonbirds and Axie Infinity are tied with newer infrastructure projects such as LayerZero and Katana, and the SPX6900 with meme attributes is also among them. This is not Coinbase targeting a specific area, but more like an extensive cleanup of the perpetual contract product line.
How to deal with open positions
If you hold one of the ten contracts above, the following is crucial: According to Coinbase messages, all open positions will be automatically settled at the time of suspension. The final settlement price is not a single snapshot, but the average index price for the 60 minutes before the deadline-a mechanism Coinbase designed to smooth out price fluctuations near the closing. Funding rates for this period will be reset to zero, so no one will need to pay or collect funding fees. Another detail worth noting: Coinbase reserves the right to suspend or adjust settlement prices in advance if there is chaos in the market. This gives exchanges room to respond if there is market chaos before the deadline.
Why prices have started to fluctuate
This is the interesting thing. Although today's Coinbase news will not take effect until two weeks later, within hours of the announcement, four affected tokens have fallen.
Token Name- 24-Hour Price Change-Market Value- 24-Hour Volume Change
Axie Infinity (AXS) - -5.12% -US$150 million- -7.28%
LayerZero (ZRO) - -4% -US$296.54 million- +4.74%
Katana (KAT) - -5.17% -US$13.36 million-+3.93%
Memecoin (MEME) - -2.54% -US$31.4 million- -5.72%
Note a pattern: the price fell, but the volume remained high or even increased in some tokens. This is not because the market is calming down, but because traders are actively unwinding leveraged positions before the exit channel narrows. Losing the perpetual futures market means the real leverage demand for tokens disappears, and the market seems to have decided to factor this factor into the price until August 26.
What should holders do before August 26
If you hold any of the ten contracts above, time is running out. Letting the pause automatically settle your positions means you will accept the 60-minute average index price, regardless of how the market moves during that period. If you manually close your positions in advance, you can independently control the exit price. In addition, it is worth paying attention to whether these tokens will survive after August 26, because the suspension of perpetual contracts does not automatically mean that spot trading disappears. Two weeks may seem like enough time to plan for this Coinbase news, but judging from the speed of fluctuations that have appeared in these charts, it may not be so abundant.
This content covers the "Your Money, Your Life"(YMYL) theme, including cryptocurrency prices and capital flows. For reference only and does not constitute financial, investment, tax or legal advice. The crypto market is highly volatile and historical performance does not represent future results. Be sure to research and consult a licensed financial adviser before making an investment decision.
