Coinbase announced it will suspend futures trading for three altcoins.
According to the company’s announcement, TRIA-PERP, NEO-PERP, and IMX-PERP trading will be suspended on June 4th at approximately 13:00 UTC (16:00 UTC+3).
It was stated that all open positions on the exchange would be automatically closed at the time of trading halt. The final settlement price will be calculated based on the average index price during the 60-minute period prior to the trading halt.
Coinbase also announced that the funding rate would be set to zero for the last funding period prior to the final settlement.
All of the altcoins in question, except for Neo (NEO), are already traded on the spot market on Coinbase. NEO was once a popular altcoin, nicknamed the “Chinese Ethereum.” However, its price is currently trading 98% lower than its all-time high of $196 reached in 2018.
Although TRIA is a relatively new altcoin, IMX, another altcoin that was delisted, was one of the altcoins that experienced the most growth during the 2021 DeFi bull run.
*This is not investment advice.
