Coinbase will open spot trading for three tokens on February 11 - DeepBook (DEEP), Walrus (WAL), and RaveDAO (RAVE) - with USD pairs going live on or after 9 a.m. PT, subject to liquidity conditions.
The listings follow a week-long roadmap review that added DEEP and WAL on Feb. 3 and RAVE on Feb. 5.
Two of the three tokens belong to the Sui ecosystem, while RAVE operates on Coinbase's own Base network.
What's Being Listed
DeepBook is Sui's native on-chain central limit order book, providing liquidity infrastructure for decentralized trading. The protocol launched margin trading with up to 10x leverage in January.
Grayscale launched a single-asset DeepBook Trust for accredited investors in August 2025. DEEP traded around $0.03 to $0.035 as of early February.
Walrus is a decentralized storage protocol also built on Sui, backed by $140 million in funding from a16z and others. The token listed on Binance in October 2025, where it saw an initial price decline of roughly 50% before stabilizing. WAL was trading near $0.097 at the time of the roadmap announcement.
RaveDAO is a Web3 entertainment protocol that uses blockchain-based ticketing for electronic music events. Operating on Base, Ethereum (ETH), and BNB Chain (BNB), the project claims over 100,000 total event attendees since 2024. RAVE has a circulating supply of roughly 230 million tokens, with a market capitalization near $88 million.
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Why It Matters
Coinbase has been steadily expanding its altcoin listings, but the composition of this batch is worth noting. Two of three tokens are core Sui infrastructure projects, which comes as the exchange continues to deepen its relationship with that ecosystem. The third runs on Base, Coinbase's own Layer 2 chain.
For DEEP and WAL, the Coinbase listing adds a major U.S. on-ramp that could increase liquidity and accessibility for tokens that have so far traded primarily on Binance and smaller venues.
RaveDAO is notably smaller - a cultural protocol with limited trading history and daily volume in the low single-digit millions on existing exchanges, per CoinGecko data. As with most new Coinbase listings, sharp price volatility around the listing window is common.
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