Coinbase announced on Nov. 24, 2025, the addition of Fluid (FLUID) and World Mobile Token (WMTX) to its spot operations, with trading set to begin on Nov. 25. The listing arrives in the middle of a bear market — with Bitcoin stuck in the mid-$80,000 range — and signals a deliberate bet on utility-driven assets rather than short-term hype.
A listing strategy built around real utility
FLUID is described as a DeFi protocol that integrates lending, borrowing, and trading into a unified liquidity system, while WMTX powers a decentralized telecom network built on physical wireless nodes. This pairing highlights Coinbase’s preference for infrastructure-first projects over speculative tokens.
Spot trading for Fluid (FLUID) and World Mobile Token (WMTX) will go live on 25 November 2025. The opening of our FLUID-USD and WMTX-USD trading pairs will begin on or after 9AM PT, if liquidity conditions are met, in regions where trading is supported. pic.twitter.com/niDFzmMxay
— Coinbase Markets 🛡️ (@CoinbaseMarkets) November 24, 2025
Coinbase tied the move to its recent relaunch of public token sales — the platform that listed Monad (MON) from Nov. 17 to 22 — which uses a “fill-from-the-bottom” algorithm. The model aims to broaden distribution, prevent concentration, and discourage fast exits, aligning listings with long-term participation.
In the hours following the announcement, both tokens saw modest rebounds. Although small, this reaction suggests demand driven by fundamentals rather than the explosive spikes of past cycles.
At the strategic level, listing utility-oriented tokens during a downturn reinforces Coinbase’s role as a curator, not merely a venue chasing volume. This approach also pressures competitors to raise their listing standards during periods of market stress.
Regulatory considerations also influenced selection. By prioritizing tokens with tangible use cases — especially those in DePIN — Coinbase aims to reduce the risk of assets being viewed as unregistered securities, while emphasizing real-world value instead of speculative activity.
The listings send a clear message to builders: projects focused on infrastructure, interoperability, and real-world applications may gain better access to major exchanges. This could shift resources toward teams working on foundational layers rather than short-term trends.
Coinbase’s approach seeks to cultivate long-term users. The restrained price action, paired with distribution mechanics designed to avoid pump-and-dump cycles, aims to build a more stable and committed community around these assets.