Coinbase switches BLUECHIP-USD trading pair to limit-only mode

Photo: Tima Miroshnichenko / Pexels

The exchange is using its standard phased onboarding approach for the memecoin, restricting market orders while liquidity builds.

by Editorial Team

Wed 16 Sep 2026 · 14:25 EDT 2 min read

In Technology

Coinbase Global, Inc. (COIN) price

Full chart and stats

Loading chart…

Last close: $161
Close-to-close change: +0.9%
Market cap: $42.5B (shares as of 2026-06-30)
P/E (trailing): Not meaningful: trailing loss. Diluted EPS −3.79 for 2025-07-01 to 2026-06-30, rolled from reported annual and year-to-date EPS (approximate) SEC filing
Annual revenue: $7.2B USD (FY ended 2025-12-31) 10-K
Annual revenue growth: +9.4% (FY ended 2025-12-31 vs FY ended 2024-12-31) 10-K
Annual net income: 1,260,327,000 USD (FY ended 2025-12-31, attributable to the company) 10-K
Annual operating margin: 20.0% (FY ended 2025-12-31)
Forward P/E: Unavailable: no dated forecast source

Gloria daily close for session Oct 27, 2026. Market cap and trailing P/E use this close with the SEC share total and trailing diluted earnings, each dated next to its figure. Annual revenue, revenue growth, net income and margin show their own fiscal period and link the 10-K. Current context may postdate this article.

Coinbase Global, Inc. and its peers

Company	Price	Market cap	P/E (trailing)	Forward P/E	Annual revenue (USD)	Annual revenue growth	Annual net income (USD)	Operating margin
Coinbase Global, Inc. COIN · Price dated Oct 27, 2026 · tokenized COINx	$161	$42.5B	Not meaningfulLoss, diluted EPS −3.79 to 2026-06-30 · SEC filing	Unavailable	$7.2BFY ended 2025-12-31 · 10-K	+9.4%FY ended 2025-12-31 vs 2024-12-31 · 10-K	1,260,327,000FY ended 2025-12-31, attributable to the company · 10-K	20.0%FY ended 2025-12-31
Strategy Inc MSTR · Price dated Oct 27, 2026 · tokenized MSTRx	$141	Unavailable	Not meaningfulLoss, diluted EPS −96.98 to 2026-06-30 · SEC filing	Unavailable	$477.2MFY ended 2025-12-31 · 10-K	+3.0%FY ended 2025-12-31 vs 2024-12-31 · 10-K	−3,848,152,000FY ended 2025-12-31, attributable to the company · 10-K	−1,140.8%FY ended 2025-12-31
Circle Internet Group, Inc. CRCL · Price dated Oct 27, 2026 · tokenized CRCLx	$82	Unavailable	16.3	Unavailable	$2.7BFY ended 2025-12-31 · 10-K	+63.9%FY ended 2025-12-31 vs 2024-12-31 · 10-K	−69,508,000FY ended 2025-12-31, attributable to the company · 10-K	−3.5%FY ended 2025-12-31
Bitmine Immersion Technologies, Inc. BMNR · Price dated Oct 27, 2026 · tokenized BMNRx	$22	$13.0B	Not meaningfulLoss, diluted EPS −4.50 to 2026-05-31 · SEC filing	Unavailable	$6.1MFY ended 2025-08-31 · 10-K	+84.1%FY ended 2025-08-31 vs 2024-08-31 · 10-K	348,577,000FY ended 2025-08-31, attributable to the company · 10-K	7,288.1%FY ended 2025-08-31

Missing figures stay unavailable. Forward P/E requires a dated source. Annual revenue, revenue growth, net income and margin come from each company's own 10-K, in US dollars, and each row shows that fiscal year. Revenue growth compares the fiscal year with the prior year stated in the same 10-K. Net income is the full year amount attributable to the company, or available to common stockholders where the filing states only that, or consolidated net income. Each row names its basis. Trailing P/E reads "Not meaningful" when the dated trailing diluted EPS is a loss or zero. An operating margin appears only when the filing states both the operating income and the revenue for the same year.

Sources: SEC filings, Gloria daily closes and CoinGecko. Oldest record refresh: Oct 28, 2026, 4:41 PM EDT. Refresh is not a price or filing date. Each row shows its price date and its annual fiscal period. Peers use industry code and company size, or editorial selection. Market cap multiplies that row price by the company share total the latest SEC filing states for every share class together. Trailing P/E divides it by trailing diluted earnings from SEC filings. Rolled earnings per share are approximate because share counts can change between periods. Both appear only when the SEC data carries its date, so they are estimates at one price date, not synchronized filing valuations. Not investment advice.

Coinbase has moved the BLUECHIP-USD trading pair into limit-only mode on both Coinbase Exchange and Coinbase Advanced, a familiar throttling mechanism the exchange deploys when onboarding newer, lower-cap tokens.

In practical terms, this means traders can place, cancel, and have their limit orders matched, but market orders are completely disabled.

What limit-only mode actually does

By restricting activity to limit orders, Coinbase forces both sides of the trade to name their price. Buyers set the maximum they’re willing to pay. Sellers set the minimum they’ll accept. Orders only fill when those numbers overlap.

This isn’t a permanent state. Coinbase typically transitions tokens from limit-only to full trading once the order book develops enough depth. The exchange has used this exact playbook with other recent listings, including GRASS-USD and GROVE-USD, both of which went through the same phased rollout before graduating to unrestricted trading.

BLUECHIP: the memecoin that named itself after the top shelf

BLUECHIP bills itself as “the bluechip of all memecoins.” The token has built its primary trading presence on the Base blockchain, Coinbase’s own Layer 2 network, which makes the listing on Coinbase’s centralized exchange a logical next step in its distribution story.

Why the phased approach matters for traders

The limit-only period creates a specific set of conditions that traders should understand before jumping in. Liquidity during this phase tends to be thinner than during full trading, which means bid-ask spreads can be wider than what you’d see on a mature trading pair. If you’re placing a limit buy at a price that seems reasonable based on other venues, there’s no guarantee a seller will show up to match it quickly.

This also means that the prices visible on Coinbase during limit-only mode may not perfectly reflect prices on decentralized exchanges or other platforms where BLUECHIP is already trading.

Traders watching this pair should pay attention to the spread between the highest bid and lowest ask during the limit-only phase. A narrowing spread suggests growing market maker participation and a healthier order book. A persistently wide spread signals that demand on at least one side of the trade isn’t showing up.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.

More in Technology

See all

Previous storyBinance schedules system upgrade for September 22, 2026

Menu

Crypto sections