Coinbase puts DATA-USD into auction mode after Story token migration

Photo: Rafael Minguet Delgado / Pexels

The newly renamed DATA token opens on Coinbase with a 10-minute auction designed to find a fair starting price before any trades match

by Vivian Nguyen

Thu 8 Oct 2026 · 12:21 EDT 3 min read

In Finance

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 Markets has placed the DATA-USD trading pair into auction mode. For at least 10 minutes, orders can stack up, but none of them can match until an opening price is set.

The move follows the token’s migration from Story (IP) to its new DATA ticker.

How the DATA-USD auction works

Coinbase announced on October 8, 2026, that DATA-USD would enter auction mode. The auction runs for a minimum of 10 minutes.

During that window, the order book accepts only limit orders. These are orders that name a specific price a trader is willing to pay or accept.

According to the auction rules, those limit orders must carry the “allow taker” flag. That setting means an order is permitted to execute against existing orders on the book once matching switches back on.

Nothing executes while the auction is live. Buyers and sellers submit their intentions, and the exchange holds them until the window closes.

Throughout the auction, Coinbase displays an indicative opening price. This figure shows roughly where buy and sell interest is meeting as orders arrive.

Once the auction concludes and an opening price is determined, regular trading begins. Orders then match normally, as they would on any active pair.

The Story to DATA migration

Story, which previously traded under the IP ticker, has become DATA.

Coinbase disabled all trading for the old Story (IP) token effective October 5, 2026. That froze the market ahead of the switch.

The migration itself was completed by October 7, 2026. Holders received DATA at a 1:1 ratio, meaning one old token converted into one new token.

No fees were charged for the conversion.

Trading for DATA was set to begin after October 7. The auction on October 8 marks the moment the new ticker actually gets its first price.

Why exchanges bother with auctions

Coinbase uses auction mode as part of an established framework for new listings and rebranded assets. The stated goal is to manage volatility when trading first switches on.

By collecting limit orders over a set period, the exchange gathers a broader picture of supply and demand. The opening price then reflects many participants instead of whoever clicked fastest.

This is not a one-off for DATA. Coinbase previously ran the same process for the CT-USD pair for Concrete on September 30, 2026.

What this means for traders and token holders

For former Story holders, the practical impact is straightforward. Their balances carried over at 1:1 with no fees, and the auction determines where those balances get valued once trading resumes.

Because only limit orders are accepted, traders must name their price in advance. Anyone hoping to buy at any price with a market order has to wait until the auction ends.

The indicative price is the key number to watch during the window. It updates as orders come in, giving a running sense of where the market may open.

Traders should keep in mind that the indicative price is a moving estimate, not a guarantee. It can shift right up until the auction closes and the official opening price is set.

There are trade-offs. A minimum 10-minute pause means traders cannot react instantly to news during that window, and some may prefer the immediacy of a continuous market.

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

More in Finance

See all

Previous storyAptos Foundation locks 210M APT, shifting to staking rewards

Menu

Crypto sections