Coinbase will list Shadow Token, the native cryptocurrency of the ShdwDrive, a high-performance decentralized data storage network.
The largest crypto exchange in the U.S. announced that Shadow Token (SHDW) will be live on the platform from tomorrow if liquidity conditions are met.
Following the announcement, Shadow Token immediately surged by 20%. The token has been up nearly 80% in a month.
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 & @CoinbaseExch in the regions where trading is supported.
— Coinbase Assets 🛡️📞 (@CoinbaseAssets) April 9, 2024
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Since last month, SHDW has been listed by several major centralized exchanges, including Crypto.com and Gate.io. As a result, the token’s daily trading volume has consistently increased, surging over 200% today.
Shadow Token gained notable attention following its inclusion in Coinbase’s listing roadmap, leading to a significant price surge. With the recent surge in Solana’s network activity, utility tokens like SHDW have seen major interest, as developer engagement has increased across the platforms.
Launched in January 2022, Shadow Token allows for on-chain events to confirm the continued integrity and existence of stored data, a significant advancement over previous attempts by other web3 storage providers to integrate with Solana, which had limited success. The network supports various use cases, including web hosting, archival and backup services, social media applications, datasets, and personal storage solutions.
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