Coinbase to Cease Perpetual Contracts for MEME, SAND, BIRB, and Eight Other Tokens

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MEME
$0.000484-0.2%
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SAND
$0.05286-2.81%
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BIRB
$0.0730139.46%
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Coinbase will cease perpetual futures trading for 10 tokens, including MEME, SAND, and BIRB, around August 26. Open positions will be settled at the 60-minute average index price, with final funding rates set to zero. This decision follows changing market sentiment, as reflected by increased volatility in the Fear & Greed Index. Traders are advised to adjust their positions before the deadline.

According to Huoxing Finance, on August 12, Coinbase will suspend trading for the following perpetual contracts around 21:00 on August 26: 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), and LayerZero (ZRO-PERP). All open positions at that time will be automatically settled, with the final settlement price determined as the average index price over the 60 minutes prior to trading suspension. The funding rate for the final funding period will be set to zero.

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