The cryptocurrency market entered the red zone today. Leading crypto Bitcoin lost the critical $70,000 support. With exceptions, many altcoins also witnessed sharp declines. However, there are also tokens that move in the opposite direction with the decline in the market. One of these was Shadow Token, which received good listing from Coinbase. Coinbase announced that it will add SHDW, the project’s native token, to its list. Following this development, the token price saw a vertical rise.
Coinbase announced it would list SHDW, the price skyrocketed!
cryptokoin.comAs you follow from , the color red dominates the market today. However, there are also cryptocurrencies that go in the opposite direction with the positive news they receive. In a recent development, leading cryptocurrency exchange Coinbase announced that it will add Solana-based Shadow Token (SHDW) to its list. Meanwhile, Coinbase stated that it would add support for SHDW with the ‘experimental label’. The stock exchange announced that trading will begin at 12:00 on April 10. In this context, Coinbase made the following announcement:
Coinbase will add support for Shadow Token (SHDW) on the Solana network (SPL token). Do not send this asset over other networks or your funds may be lost. Transfers for this asset are available on Coinbase and CoinbaseExch in regions where trading is supported.
According to the statement, once liquidity conditions are met, trading will begin on or around April 10 at 12:00 p.m. The exchange will gradually initiate trading in the SHDW-USD trading pair once sufficient supply of this asset is ensured. Following the Coinbase announcement, the altcoin price made a vertical breakout. SHDW price increased from $1.8 to $2.5 during the day. Although the token later lost ground, it continues to trade in contrast to the negative atmosphere in the market. At the time of writing, SHDW was changing hands at $2.21, up over 12% on a daily basis.
What is Shadow Token (SHDW)?
SHDW is the utility token that powers the Shadow dePIN ecosystem, providing its users with decentralized storage, compute, and network orchestration. Users use SHDW to pay for decentralized data storage, computing, and other utilities.
Powering the Shadow ecosystem is DAGGER: a scalable and bandwidth-efficient L1/L2 hybrid powered by a proprietary consensus mechanism designed to orchestrate distributed systems, manage large amounts of data stored in decentralized networks, and more.
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