Coinbase plans to open spot and perpetual futures trading for $PEARL on Friday, November 13, at or after 12:00 UTC, its listings account, @CoinbaseAssets, announced. Trading will be available only in select jurisdictions.
Following the announcement, $PEARL rose to $1.59, gaining 9.02% over 24 hours.
From Roadmap Addition to Trading Date
The launch comes after Coinbase added Pearl to its asset listing roadmap on October 19, alongside Axis Labs (AXIS) and Stable (STABLE). Crypto Briefing reported that Coinbase linked trading for all three assets to market-making support and technical readiness, and said it would announce launch dates separately after those conditions were met.
Pearl drew trading interest in the weeks following the roadmap announcement. Yahoo Finance reported that the token reached $2.27 as listing expectations and the project’s AI-computing narrative attracted attention. CoinGecko data put its market capitalisation at close to $800 million. Coinbase’s price page lists the token’s all-time high as $2.46, leaving its current price of $1.59 well below that level.
Perpetual futures can magnify price movements in either direction. Yahoo Finance noted that traders may be watching to see whether leveraged positioning grows faster than spot demand.
What Pearl Does
Pearl (@prlnet) is a Bitcoin-style chain on which miners earn coins by performing matrix multiplication on GPUs, a type of computing also used by AI models. KuCoin’s explainer says the Layer-1 network launched its mainnet on April 27, 2026, and uses matrix multiplication instead of conventional hash-based proof-of-work. The project calls this mechanism Proof-of-Useful-Work.
The design has prompted questions about how useful the work is in practice. A June 2026 preprint, "The Usefulness Gap in Proof-of-Useful-Work", examined 8,012 workers and concluded that the dominant mining software contained no inference code, according to the same KuCoin explainer. Yahoo Finance has also reported that much of the initial mining rush involved inference that no one requested or paid for.
Coinbase has not said whether it will add other markets for the token beyond the spot and perpetual futures listings announced for Friday.
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