Coinbase opens full PONS-USD trading with limit, market, and stop orders

Trading Details

Coinbase has switched on the PONS-USD trading pair, and traders can now use limit, market, and stop orders on both Coinbase Exchange and Coinbase Advanced.

Background

The new pair supports three order types, each serving a different kind of trader. A limit order lets you name your price and wait for the market to come to you. A market order fills right away at whatever price is available. A stop order sits dormant until the price hits a trigger level, then activates.

Market Conditions

Trading on the pair is still subject to liquidity conditions and regional restrictions. Not everyone, everywhere, will see the same access. Thin order books on a new listing can also mean wider spreads and choppier fills.

Token Details

PONS is a permissionless, non-custodial token launchpad built on Robinhood Chain. The token itself is young, launching between July 15 and July 28, 2026. It climbed to an all-time high of approximately $0.97 in September 2026.

Burn Announcement

The Coinbase news coincided with a supply change from the project. On or around October 6, 2026, PONS announced a 32% token supply burn. A burn permanently removes tokens from circulation, usually by sending them to an address nobody can access.

Impact on Traders

For traders, the clearest change is access. A token that once lived mainly on its native chain is now reachable through a major exchange with a USD pair. That cuts out much of the friction of bridging assets, managing wallets, and swapping on-chain.

Launchpad Market

The burn adds a second variable. Removing 32% of supply is a significant cut. PONS enters this phase well below its September high of approximately $0.97, trading around $0.38 to $0.40 in early October.

Regional and Liquidity Limits

Regional and liquidity limits on the pair also deserve attention. Order types like stops are only as reliable as the order book behind them. In a thin market, a stop order can fill well below its trigger price during a fast move. Traders using the new tools should account for that, especially in the early days of a listing.