Coinbase, the leading US crypto exchange valued at a little over $67 billion, is being roundly mocked online for its introduction of a four-hour trading candle on its price charts.
The firm’s Coinbase Advanced branch announced the feature on Wednesday and teased that weekly and monthly price candles are in the works. “You asked, we shipped,” it said.
However, the post quickly attracted backlash from X users unimpressed at the idea of a prominent exchange only just deciding to add what they regard as rather basic features.
Read more: Coinbase claims the token Base just launched isn’t actually a token at all
One user joked, “Holy moly impressive. What is next, full screen mode?” Another, sarcastically, said, “Revolutionary stuff.”
Others asked, “Who approved this post,” and reasoned, “This must be a joke.”
Some expressed their surprise that the multi-billion dollar market cap firm hadn’t already implemented one-week and one-month candles.
Coinbase’s S&P 500 arrival didn’t help candle discourse
Yesterday, Coinbase became the first crypto company to join the S&P 500, a database that tracks the stock prices of roughly 500 top-performing companies trading on US stock exchanges.
However, this proved to be even funnier for some.
One user posted, “[Coinbase] Deserves its place in the S&P with all other dinos who take 6 months to add a button,” while another said, “It’s always important to celebrate small wins, even for an S&P 500 company 😂.”
Coinbase CEO Brian Armstrong likely isn’t bothered by the candle backlash as he’s busy lobbying lawmakers in the US to vote through a stablecoin bill.
The GENIUS Act failed to garner enough votes last week to progress to the next stage and drew criticism from Democrats who are concerned over President Donald Trump’s crypto ventures, such as his recently launched stablecoin.
