The cryptocurrency market entered the red zone today. The leading crypto Bitcoin lost its critical $70,000 support. With no exceptions, many altcoins also witnessed sharp declines. However, there are tokens that are moving in the opposite direction to the decline in the market. One of these was the Shadow Token, which was the list herald from Coinbase. Coinbase announced that it will add SHDW, the native token of the project, to its list. Following this development, the token price saw a vertical rise.

Coinbase announces to list SHDW, price skyrockets!

Cryptocoin.comAs you have been following the market, the red color dominates the market today. However, there are also cryptocurrencies that are going in the opposite direction with the positive news they receive. In a recent development, leading cryptocurrency exchange Coinbase announced that it will add the Solana-based Shadow Token (SHDW) to its list. Meanwhile, Coinbase stated that it will add support for SHDW with an ‘experimental tag’. The 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 through other networks, otherwise 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, trading will begin on or around 12:00 on April 10 when liquidity conditions are met. The exchange will launch trading in the SHDW-USD trading pair in phases once there is sufficient supply of this asset. Following the Coinbase announcement, the altcoin price made a vertical ascent. The SHDW price rose from its intraday levels of $1.8 to $2.5. Although the token then lost altitude, it continues to be traded in contrast to the negative mood in the market. At the time of writing, SHDW was changing hands at $2.21, up more than 12% on a daily basis.

SHDW daily price chart. Source: CoinMarketCap