Coinbase is set to list Shadow Token, the native cryptocurrency of the ShdwDrive decentralized data storage network. The announcement by the largest crypto exchange in the U.S. has caused a surge in Shadow Token’s value, with a 20% increase immediately following the news. Over the past month, the token has seen an overall increase of nearly 80%.

Shadow Token (SHDW) will be supported on the Solana network as an SPL token. It is important to note that this asset should not be sent over other networks to avoid potential loss of funds. Trading of SHDW will be available on Coinbase and Coinbase Exchange in regions where trading is supported.

Since its launch in January 2022, Shadow Token has gained significant traction, especially after being listed on major centralized exchanges such as Crypto.com and Gate.io. This has led to a substantial increase in daily trading volume, with a surge of over 200% today alone.

The inclusion of Shadow Token in Coinbase’s listing roadmap has further boosted its popularity and price. As developer engagement on the Solana network continues to rise, utility tokens like SHDW are garnering more interest across various platforms.

Shadow Token offers unique features such as on-chain events to verify the integrity and existence of stored data, setting it apart from other web3 storage providers. The network caters to a wide range of use cases including web hosting, archival services, social media applications, datasets, and personal storage solutions.

For more information on the latest developments in the cryptocurrency world, be sure to explore Global Crypto News.

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