Coinbase Opens CT-USD Order Book in At Least 10-Minute Auction

Auction-mode listings are a standard mechanism to price discovery before continuous trading, but the detail that matters here is the guaranteed minimum window: at least ten minutes with no matching gives market makers and takers time to post limit orders and observe an indicative price before any trade prints. For Coinbase users, the practical effect is that an early limit order can be filled at the opening price once matching begins, and the indicative price is the only real signal available during the window. Whether the auction is extended beyond the minimum is the open question to watch.