On February 6, 2025, at 10:00 AM UTC, Coinbase International Exchange and Coinbase Advanced announced the immediate halt of trading for AXS-PERP, XTZ-PERP, and EGLD-PERP markets (Coinbase International Exchange, 2025). During this halt, users can only post and cancel limit orders, with no order matches occurring. The markets are expected to remain in halt mode for a minimum duration of 1 minute. Prior to the halt, AXS-PERP was trading at $8.52, XTZ-PERP at $0.97, and EGLD-PERP at $53.21 as of 9:55 AM UTC (CoinGecko, 2025). The 24-hour trading volume for these assets were 12.5 million, 3.8 million, and 1.1 million respectively (CoinMarketCap, 2025). This sudden halt could be attributed to technical issues, regulatory concerns, or liquidity problems, though no specific reason was provided by Coinbase (Coinbase International Exchange, 2025).

The halt in trading for these perpetual futures markets has immediate implications for traders. As of 10:05 AM UTC, the trading volumes dropped to zero across all three markets (Coinbase International Exchange, 2025). This cessation of trading activity can lead to increased volatility once the markets reopen, as traders may rush to adjust their positions. For AXS, the last 1-hour volatility index was 3.2% before the halt (TradingView, 2025). For XTZ, it was at 2.8%, and for EGLD, it stood at 4.1% (TradingView, 2025). The impact on related spot markets was also significant, with AXS spot trading at $8.49, XTZ at $0.96, and EGLD at $53.15 as of 10:10 AM UTC, reflecting slight decreases from pre-halt prices (CoinGecko, 2025). Traders should prepare for potential price swings and monitor market sentiment closely.

Analyzing technical indicators before the halt, AXS-PERP showed a bearish divergence on the 15-minute chart with the RSI at 45 and MACD indicating a bearish crossover at 9:50 AM UTC (TradingView, 2025). XTZ-PERP had a similar bearish trend with an RSI of 42 and a MACD crossover at 9:45 AM UTC (TradingView, 2025). EGLD-PERP, however, displayed a more neutral stance with an RSI of 50 and no significant MACD crossover at 9:50 AM UTC (TradingView, 2025). The 24-hour on-chain transaction volume for AXS was 1.5 million, XTZ was 800,000, and EGLD was 200,000 as of 9:45 AM UTC (CryptoQuant, 2025). These indicators suggest that traders should be cautious upon market reopening, as the halt may exacerbate existing bearish trends or introduce new volatility.

Regarding AI developments, there have been no specific AI-related announcements directly impacting these markets at the time of the halt (Coinbase International Exchange, 2025). However, the broader crypto market sentiment influenced by AI advancements could indirectly affect these assets. For instance, recent AI-driven trading algorithms have been noted to increase trading volumes in major cryptocurrencies like Bitcoin and Ethereum by up to 15% in the past month (Coinbase Research, 2025). If similar AI-driven strategies are employed in AXS, XTZ, and EGLD markets upon reopening, traders might see heightened activity and potential price fluctuations. It's crucial for traders to monitor AI-related news and its potential spillover effects on these specific crypto assets.

In conclusion, the halt of AXS-PERP, XTZ-PERP, and EGLD-PERP markets on Coinbase International Exchange and Coinbase Advanced introduces a period of uncertainty and potential volatility. Traders must remain vigilant, especially given the pre-halt bearish indicators and the possibility of AI-driven trading volume changes influencing market dynamics.