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Home»BLOCKCHAIN NEWS»Shadow Token has surged 20% since its listing on Coinbase.
BLOCKCHAIN NEWS

Shadow Token has surged 20% since its listing on Coinbase.

By Crypto FlexsApril 9, 20242 Mins Read
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Shadow Token has surged 20% since its listing on Coinbase.
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Coinbase plans to list Shadow Token, the native cryptocurrency of ShdwDrive, a high-performance decentralized data storage network.

The largest US cryptocurrency exchange announced that Shadow Tokens (SHDW) will be launched on its platform starting tomorrow once liquidity conditions are met.

next presentation, Shadow Token immediately surged 20%. The token rose nearly 80% in one month.

Coinbase is adding support for shadow tokens (SHDW) to the Solana network (SPL tokens). Please do not send this asset over any other network. Otherwise, you may lose your funds. Transfer of this asset is possible at: @Coinbase & @CoinbaseExch In regions where trading is supported.

โ€” Coinbase Assets ๐Ÿ›ก๏ธ๐Ÿ“ž (@CoinbaseAssets) April 9, 2024

Since last month, SHDW has been listed on several major central exchanges, including Crypto.com and Gate.io. As a result, the token’s daily trading volume has steadily increased and is currently skyrocketing by over 200%.

Shadow Tokens gained attention after being included in Coinbase’s listing roadmap, resulting in a significant price surge. With the recent surge in network activity on Solana, utility tokens like SHDW have received a lot of attention as developer participation increases across the platform.

Launched in January 2022, shadow tokens can verify the ongoing integrity and existence of stored data through on-chain events. This represents a significant advance over previous attempts by other web3 storage providers to integrate with Solana, but met with limited success. The network supports a variety of use cases, including web hosting, archiving and backup services, social media applications, datasets, and personal storage solutions.

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