Coinbase announced plans to list Solana Network (SPL Token) asset Shadow Token (SHDW) on cryptocurrency exchanges.
Trading will begin at approximately 12:00 ET on April 10, 2024, subject to liquidity conditions being met. This move will allow Coinbase users to transfer and trade SHDW within regions where trading is permitted.
Coinbase lists Shadow Token (SHDW)
To ensure a smooth trading experience, Coinbase will initially launch trading for the SHDW-USD pair in stages once sufficient supply of the asset is available. However, users should note that they should not send SHDW over any network other than Solana. Doing so may result in loss of funds.
In line with its commitment to transparency and customer safety, Coinbase has assigned SHDW an “experimental label.” Coinbase applies this label to assets that are new to the platform or have relatively low trading volume compared to other cryptocurrencies. The experimental label is a warning to users. We highlight that these assets may be subject to significant price fluctuations and issues related to low liquidity, including canceled orders.
Read more: Coinbase vs. Coinbase Pro: Which is Right for You?
The Solana network contract address for the shadow token is SHDWyBxihqiCj6YekG2GUr7wqKLeLAMK1gHZck9pL6y. Coinbase recommends that users be aware of the risks of experimental asset trading and exercise caution when engaging in SHDW trading. Especially considering the surge in volatility SHDW has experienced since the announcement.
Coinbase’s decision to list SHDW represents its ongoing efforts to expand its cryptocurrency portfolio and offer users a variety of digital assets. However, some community members have raised concerns about the company’s strategy of supporting altcoins with low market capitalizations.
“(Coinbase) continues to extend support for failed centralized Steamware chains and continues to ignore far superior alternatives,” said one cryptocurrency enthusiast.
disclaimer
In compliance with Trust Project guidelines, BeInCrypto is committed to unbiased and transparent reporting. These news articles aim to provide accurate and timely information. However, before making any decisions based on this content, readers are encouraged to check the facts and consult with experts. Our Terms of Use, Privacy Policy and Disclaimer have been updated.