Coinbase lists BLUECHIP token with limit-only trading mode

Coinbase has added the BLUECHIP and Ritual (RITUAL) tokens to its listing roadmap. Shortly after the initial announcement, the exchange enabled spot trading for BLUECHIP across Coinbase.com, the Coinbase mobile app, Coinbase Advanced, and Coinbase Exchange for institutional investors.

To manage the onboarding of the new token, Coinbase has placed the BLUECHIP-USD trading pair into limit-only mode on both Coinbase Exchange and Coinbase Advanced. This mechanism restricts trading to limit orders, requiring both buyers and sellers to specify prices, while disabling market orders. This phased rollout is a standard procedure used by the exchange to allow order book depth to develop before transitioning to unrestricted trading.

BLUECHIP, which operates primarily on Coinbase’s Base blockchain, is currently subject to these restrictions, which may result in thinner liquidity and wider bid-ask spreads compared to mature trading pairs. Meanwhile, Ritual (RITUAL) remains on the roadmap with no specific trading launch date announced.