One Solana (SOL)-based altcoin is hovering after touchdown a shock itemizing on Coinbase, the highest crypto alternate within the US.
In an announcement by way of the social media platform X, Coinbase says it’s including Shadow Token (SHDW) to its buying and selling platform.
Shadow Token is predicted to be obtainable on the platform beginning Wednesday, at midday Japanese Commonplace Time. Amid the itemizing information on Tuesday, Shadow Token shot up from the day’s low of $1.83 to a excessive of $2.17, a achieve of greater than 18%.
Shadow Token has since retraced barely, buying and selling at $1.95 at time of writing, up 7% within the final 24 hours.
Coinbase is tagging Shadow Token with the experimental asset label, a designation for digital belongings that pose sure dangers resembling worth swings.
Shadow Token is a cryptocurrency designed for the sustainability and safety of decentralized information storage infrastructure. It serves because the native token for the ShdwDrive community, a high-performance cloud storage platform.
Says the venture workforce,
“Community mechanisms resembling staking, halving, slashing and recycling – are rigorously designed to work collectively to make SHDW an efficient device for securing the community and driving worth. These mechanics, together with rewards and incentives, are designed to transform token holders into lively individuals who’re serving to to safe the community.”
Coinbase additionally simply announced one other Solana-based altcoin for buying and selling with the experimental asset label, Tensor (TNSR). Tensor is the preferred non-fungible token (NFT) platform on Solana.
At time of writing, TNSR is buying and selling for $1.60, down greater than 14% within the final 24 hours.
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Featured Picture: Shutterstock/Salamahin/Philipp Tur