Coinbase activated auction mode for the ALIGN-USD pair between August 19 and 20, 2026, marking the penultimate step before full trading of Aligned's native $ALIGN token. During this phase, limit orders are accepted for a minimum of 10 minutes with no matches executed. At the end of the window, all resting orders clear at a single opening price. This mechanism has been used by Coinbase since at least 2021 across new and restarted order books, including MON-USD and USDC-BRL. Deposits for ALIGN opened shortly before the auction mode activation. The Aligned project is a full-stack Ethereum infrastructure platform based in Montevideo, Uruguay, that enables fintechs, institutions, and enterprises to build financial products on Ethereum through one-click solutions for wallets, rollups, interoperability, and zero-knowledge services. Less than one percent of the world’s assets are onchain, most of that activity sitting on Ethereum in the form of stablecoins, tokenized treasuries, and wrapped assets. $ALIGN is a utility token with a fixed total supply of 10 billion tokens and an initial circulating supply of approximately 16 percent, available as an ERC-20 on Ethereum with contract address 0x53f39e5C53EE40bbc3Da97C3B47BD2968d110a8D and also on Base. The indicative price emerging from the auction will signal market agreement on the project's value, with wide spreads indicating disagreement and tight clustering indicating consensus. Coinbase applies the same process to all qualifying new assets.