Coinbase Listings Do they still matter? TLDR: Yes. 1. Attention - CB listings spark an attention cycle which tends to be top 2-3 for most tokens in their early lifetimes, with the other being launch. Both tend to be short-term boosts, but still can be quite impactful, because attention is upstream of volume which is upstream of market cap. Many projects only get 1 or 2 attention cycles before they die, but if you can get 3 or 4 the 5th and 6th become more likely, in my opinion, so each one is very valuable to get. 2. Legitimacy - CB listed tokens are viewed as more legit than they were prior to listing because they have received the relatively rarely given stamp of approval from Coinbase. Unless formal CB listings become significantly less scarce or non-existent, this will remain the case. There are millions of tokens and a CB listing still separates a few hundred from the pack to basically top 0.01%. 3. Functionality - only tokens which are listed on Coinbase can be converted to and from other cryptocurrencies or deposited into your Coinbase account from another crypto wallet. All others can only be bought with USDC/$ or sold for USDC/$ and cannot be received, so they don’t have full functionality compared to listed Coinbase tokens. All of the above are benefits that come with listing which do not come with the DEX integration, though that did reduce the importance of Coinbase listings to some degree. Namely, a vastly larger number of people outside of crypto-natives can now buy “unlisted” coins in their Coinbase accounts, which is great. To be clear, the fact that Coinbase listings still matter does not mean that the DEX integration was not good or worthwhile. I would say it was both. Thanks to @six, who I tend to agree with more often than not, for the unintentional prompt.