In a stunning move that would make even the most seasoned crypto investor raise an eyebrow, Coinbase has decided to delist 25 perpetual futures contracts. It’s not random, of course-this is a calculated, sector-driven culling of tokens that once danced in the spotlight but now find themselves on the chopping block. The exchange settled all open positions using a 60-minute average index price, which sounds thrillingly bureaucratic, like a financial version of a slow-motion car crash.
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Among the casualties are tokens tied to the AI and data economy, a sector that once buzzed with the energy of a caffeine-fueled conference. IO, GRASS, PROVE, and PROMPT-tokens with names as ambitious as their futures-were all part of the pack. They soared during the 2025 AI rally, but now they’re just ghosts in the machine, their derivatives liquidity as thin as a blockchain’s patience.
DePIN and infrastructure plays also took a hit. HNT, which promises decentralized wireless networks, and AR, which claims to store data forever, are still around, but their markets have the excitement of a spreadsheet. It’s like watching a toddler build a sandcastle only to have the tide roll in and erase it all.
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Gaming and meme tokens are also feeling the pinch. HMSTR, DEGEN, MEW, and GIGA-names that evoke the chaos of a cryptocurrency convention-were once the life of the party. But derivatives volume? A fleeting spark, like a firework in a thunderstorm. Exchanges like Coinbase are now playing the role of strict parent, saying, “No more sugar for you.”
As previously announced, we have suspended trading for the following perpetual futures. Any remaining open positions have been settled automatically using the final settlement noted.
• EDGE-PERP – $0.092411 USDC
• PROMPT-PERP – $0.04328 USDC
• 1000SATS-PERP – $0.000011 USDC…– Coinbase Markets 🛡️ (@CoinbaseMarkets) February 20, 2026
Layer-2 and modular tokens like BLAST, DYM, and ZETA also faced the axe. These are the ones that promised to scale the blockchain Everest but failed to meet Coinbase’s liquidity requirements. It’s a reminder that even the most ambitious projects need a solid foundation-or, in this case, a decent amount of trading volume.
Smaller infrastructure names like FLOW, CRO, CGLD, and RSR were also dumped. It’s a tough world for tokens that don’t have a spot presence, even if they’re well-known. Coinbase is basically saying, “Show me the money, or I’ll show you the door.”
The takeaway? Coinbase is now focusing on derivatives that cater to long-term institutional players, not the short-lived hype cycles of crypto’s wilder days. If this trend continues, the crypto world might finally start to resemble a proper market-assuming “proper” means “less chaotic and more predictable.”
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2026-02-20 20:36