Shadow Token (SHDW), the native cryptocurrency of ShdwDrive, has experienced a 20% surge. This increase comes on the heels of an announcement that the token will be listed on Coinbase, the largest crypto exchange in the U.S.
What Happened: Coinbase has plans to list Shadow Token (SHDW), provided liquidity conditions are met. The listing is slated to go live tomorrow. Following the announcement, Shadow Token saw an immediate 20% surge in value, marking an overall increase of nearly 80% in a month.
Shadow Token (SHDW) will be supported on the Solana network by Coinbase. The exchange has cautioned users against sending this asset over other networks to prevent potential loss of funds. Transfers for this asset are now available on Coinbase and CoinbaseExch in regions where trading is supported.
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In the past month, Shadow Token has been listed by several major centralized exchanges, including Crypto.com and Gate.io. This has led to a consistent increase in the token’s daily trading volume, which surged over 290% today.
Launched in January 2022, Shadow Token has garnered significant attention due to its advanced on-chain events, which confirm the continued integrity and existence of stored data. This is a major advancement over previous attempts by other Web3 storage providers to integrate with Solana.
Price Action: At present, SHDW has seen a 20% surge followed by a subsequent drop of nearly 12%, now trading at $1.95. Within the past 24 hours, it hit a peak of $2.49. Notably, over the last year, the coin has skyrocketed by an impressive 1483.22%, according to the data from Benzinga Pro.
Why It Matters: The recent surge in Shadow Token’s value is indicative of the growing interest in cryptocurrencies.
Today, Shiba Inu‘s (SHIB) daily transactions spiked by 1,082% despite a price dip. Similarly, Bitcoin BTC/USD was down 4% ahead of the U.S. Consumer Price Index (CPI) data release, but analysts remained optimistic about its long-term prospects. These trends highlight the volatile yet promising nature of the crypto market.
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