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Coinbase Limits WMTX-USD Trading to Limit Orders Amid Liquidity Concerns
Coinbase has announced that the WMTX-USD trading pair will now operate in limit-only mode on both Coinbase Exchange and Coinbase Advanced. This change means that traders can only place limit orders, which allow them to specify the exact price they are willing to buy or sell at, rather than market orders that execute immediately at the current market price.
The decision to restrict the WMTX-USD pair to limit orders is aimed at managing liquidity on Coinbase's order book. This mechanism has been previously implemented for other lower-volume trading pairs, such as GRASS-USD and BLUECHIP-USD. Typically, Coinbase introduces new trading pairs in phases, starting with deposits, followed by limit-only trading, and eventually full trading if the order book can support it without excessive price fluctuations.
WMTX is the utility token for World Mobile Chain, a project focused on creating a decentralized mobile network in underserved areas. The token was added to Coinbase's listing roadmap in November 2025, with spot trading commencing shortly thereafter. Currently, WMTX is trading in the range of $0.02 to $0.03, reflecting a significant decline from its previous highs and placing its market capitalization in the low tens of millions.
The shift to limit-only trading alters the strategy for traders holding or considering WMTX, as they can no longer quickly enter or exit positions at market prices. The future of the WMTX-USD pair on Coinbase will depend on whether trading volume and order book depth improve, as continued low activity could lead to delisting.
Source: KLEA News