Starting January 24, 2025, at approximately 10:30 a.m. UTC, Coinbase International Exchange, the international arm of major cryptocurrency exchange Coinbase, has planned to halt trading for the FTM–PERP pair due to a delisting decision announced on X.
On January 24, 2025, trading for FTM-PERP is set to halt on both Coinbase International Exchange and Coinbase Pro around 10:30 AM Coordinated Universal Time (UTC).
— Coinbase International Exchange 🛡️ (@CoinbaseIntExch) January 10, 2025
The choice impacts both Coinbase International Exchange and Coinbase Pro, signifying a substantial shift for traders involved in the Fantom perpetual futures agreement.
Coinbase announced that the closing price for FTM-PERP will be determined by averaging the market price during the last hour before trading stops. Furthermore, the funding rate will be made zero during the final funding interval before the final settlement.
Any unoccupied roles within the FTM-PERP market will be automatically filled when operations are suspended. Therefore, it’s recommended that traders wrap up their positions prior to the suspension to prevent automatic fills. This measure is being taken since Fantom is transitioning to a new chain named Sonic.
In August, Fantom officially changed its name to Sonic Labs for the Sonic chain. Although separate from the Fantom Opera network, token holders of FTM will be able to swap their tokens for S tokens, which is Sonic’s native token, once the network goes live on a 1:1 basis.
In March 2024, Sonic was initially unveiled, with significant technical aspects and plans for the upcoming network being gradually disclosed over the subsequent months. This culminated in the September debut of the Sonic testnet. Notably, the Sonic Protocol was eventually launched on the mainnet in December.
Other Coinbase news
Previously, it was announced that Coinbase would halt transactions involving Dypius (DYP) on January 17, 2025, approximately at 2:00 P.M. Eastern Time. This move is due to the fact that Dypius will be upgrading to DYP V2, a version which Coinbase does not currently support.
To kick off the week, Coinbase revealed that they’ve temporarily halted trades for BitDAO (BIT). This is because BitDAO has moved to a new platform called Mantle (MNT), which at this point, isn’t compatible with our system.
Additionally, it’s been reported that Coinbase has made Kusama (KSM), Illuvium (ILV), Oasis (ROSE), Gnosis (GNO) and Metis (METIS) accessible to New York residents through their platform and mobile apps (iOS & Android). This means that customers can now easily trade, exchange, send, receive, or store these digital assets on Coinbase.
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2025-01-10 18:19