Coinbase Unveil Listing Of New Token, Price Surges 100%
Highlights
- Coinbase's announcement of Stader (SD) listing causes the token's value to surge over 100%.
- Stader's market capitalization reaches $30.8 million with increased trading activity.
- Coinbase continues to expand its influence with significant partnerships and custody agreements.
Coinbase, a major player in the cryptocurrency exchange market, has recently announced its plan to add Stader (SD) to its coin listing roadmap. This news has caused quite a stir in the crypto community, demonstrating the significant impact that listings on major exchanges can have on digital assets. .
Stader’s Price Surge and Market Performance
Cryptocurrency exchange giant Coinbase has announced the inclusion of Stader (SD) in its coin listing roadmap, sparking a notable surge in the token’s value. Stader (SD) is the primary cryptocurrency of the Stader Labs platform, utilized for governance and transaction payments within the ecosystem.
Following Coinbase’s announcement, Stader (SD) experienced a remarkable price surge. The token’s value more than doubled, reaching a high of $0.8507 before settling at $0.7296. Even at this slightly lower price, Stader still recorded an impressive 79.46% increase over a 24-hour period. The token’s weekly performance also showed strength, with a 15.38% price appreciation over the past seven days.
The news sparked increased trading activity for Stader, with its 24-hour trading volume hitting $6.6 million. With a circulating supply of 41 million SD tokens, Stader’s market capitalization stands at $30,843,216. These figures reflect the significant impact of Coinbase’s announcement on Stader’s market performance and investor interest.
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Coinbase’s Growing Influence and Partnerships
Coinbase’s influence in the cryptocurrency space extends beyond token listings. The company recently secured a $32.5 million contract with the U.S. Marshals Service (USMS) for custody and management of large-cap digital assets. This partnership marks a significant step in government adoption of blockchain technology for asset management, indicating growing trust in digital currencies.
Furthermore, Coinbase was named as an additional custodian for VanEck’s HODL Bitcoin ETF. This agreement, announced on June 28, outlined specific terms for securing the ETF issuer’s Bitcoin holdings. This appointment adds to Coinbase’s impressive portfolio, as the company already serves as custodian for eight other Spot Bitcoin ETFs, including those from industry leaders like BlackRock, Bitwise, and Grayscale. These developments further cement Coinbase’s position as a trusted and influential player in the cryptocurrency ecosystem.
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