Coinbase and OKX Coordinate Concrete Token Launch with Auction Modes

Coinbase has put the CT-USD trading pair into auction mode as Concrete token debuts on both Coinbase and OKX. This move gives traders at least 10 minutes to establish an opening price through limit orders only before continuous trading kicks off.

The auction phase allows only limit orders with an 'Allow Taker' designation, shutting out market orders and post-only orders entirely. The system collects these limit orders over a minimum 10-minute window, displaying an indicative price throughout the process.

OKX is taking a similar approach but with a slightly longer order collection period of one hour before continuous spot trading begins at 10:00 UTC. Even after the auction concludes, OKX restricts market orders for an additional five minutes to add another buffer against early volatility.

Coinbase has used this same auction-mode process before, applying identical restrictions on order types during the pre-trading window when listing CTR-USD in May 2026.