Coinbase Restricts GRASS-USD Trading to Limit-Only Mode

Coinbase has restricted trading on its platform for the GRASS-USD pair by placing it in limit-only mode, blocking market orders and only allowing limit orders. This change was implemented on August 26, just as spot trading for Grass went live on Coinbase.

The limit-only mode is a controlled approach used by Coinbase to stabilize the order book before transitioning to full trading with market orders enabled. The process typically begins with an initial auction phase, followed by a limit-only period, and finally ends with full trading capabilities.

Grass is the native token of a decentralized physical infrastructure network built on the Solana blockchain. It incentivizes users to share their unused internet bandwidth, effectively turning idle connectivity into a resource that others can tap into. Coinbase listed GRASS on its roadmap on August 21 and officially added it to the platform after meeting liquidity conditions.

The limit-only mode introduces execution risk for traders who want to buy or sell quickly with market orders. If the market moves away from their set price, their order won't fill. This phase is expected to be temporary, as Coinbase usually transitions trading pairs through a progression: auction, limit-only, and eventually full trading.