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

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 ...