Solana’s Shadow Rallies 55% & Neon Soars 22% Amid Coinbase Listing

Coinbase, the leading cryptocurrency exchange, has added two new assets to its roadmap today. The newly listed assets are Solana ecosystem’s Shadow Token (SHDW) and Neon EVM (NEON), both of which are SLP tokens. Moreover, the SHDW and NEON prices skyrocketed after the latest announcement.

Coinbase Lists Shadow & Neon

Shadow Token is described as the utility token powering the Shadow dePIN ecosystem. Furthermore, it aims to revolutionize the way transactions are conducted within its ecosystem. On the other hand, Neon EVM is a smart contract operating on the Solana blockchain, offering innovative solutions within the decentralized finance (DeFi) space.

Following the announcement of their addition to Coinbase’s roadmap, both SHDW and NEON experienced a remarkable surge in their prices. This reflects the market’s enthusiasm for these new listings, especially amid the Solana community.

In a recent blog post, Coinbase reaffirmed its commitment to expanding its asset offerings while maintaining rigorous standards for legal, compliance, and technical security. The exchange emphasized that its evaluation criteria do not consider factors such as market capitalization or project popularity. Instead, Coinbase focuses on ensuring that listed assets meet stringent requirements to safeguard users’ funds and uphold the integrity of its platform.

However, Coinbase also noted that not all projects meet its standards. This indicates that there are assets that have been excluded from listing at this time due to regulatory concerns or other reasons. Hence, the addition of SHDW and NEON to Coinbase’s roadmap represents a significant milestone for both projects, providing them with increased exposure and credibility within the cryptocurrency ecosystem.

Also Read: Coinbase To Store Users’ USDC Balances On Base Network

Shadow & Neon Price Rally

The Shadow Token price propelled toward a new all-time high after the Coinbase announcement. As of writing, the Shadow price skyrocketed by 55.39% to $2.26 on Wednesday, March 27. In addition, its market cap surged to $362.25 million. Moreover, the SHDW 24-hour trade volume spiked by a whopping 1241.52% to $21.41 million.

Whilst, the Solana ecosystem’s Neon crypto price surged 21.94% to $1.78 today. Furthermore, the crypto’s market valuation soared to $102.92 million. Additionally, the trading volume for Neon jumped by a staggering 638.25% to $35.54 million in the past 24 hours. However, the peak of $1.79 attained during the rally was still 53.62% short of its all-time high of $3.86.

Also Read: Bitcoin Exchange Supply Hits All-Time Low With 58K BTC Pulled Out Of Coinbase

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.