TL;DR
- Coinbase will add support for Shadow token (SHDW) on the Solana network (SPL token).
- Users are warned not to send this asset over other networks to avoid loss of funds.
- SHDW trading will begin on April 10, 2024, subject to liquidity conditions, with SHDW-USD trading pairs.
Coinbase will add support for Shadow token (SHDW) on the Solana network (SPL token).
Users are warned not to send this asset over other networks to avoid loss of funds.
Coinbase will add support for Shadow Token (SHDW) on the Solana network (SPL token). Do not send this asset over other networks or your funds may be lost. Transfers for this asset are available on @Coinbase & @CoinbaseExch in the regions where trading is supported.
— Coinbase Assets 🛡️📞 (@CoinbaseAssets) April 9, 2024
SHDW trading will begin on April 10, 2024, subject to liquidity conditions, with SHDW-USD trading pairs.
This move represents a significant step in the expansion of Coinbase’s cryptocurrency offering and provides users with the opportunity to access an emerging asset within the Solana ecosystem.
The addition of SHDW on Coinbase is scheduled for April 10, 2024, with trading beginning around 12 pm ET, provided the necessary liquidity conditions are met.
Coinbase emphasizes the importance of using the Solana contract and network address specifically designated for SHDW, whose address is provided as SHDWyBxihqiCj6YekG2GUr7wqKLeLAMK1gHZck9pL6y.
This measure seeks to protect Coinbase users and guarantee the security of their assets during transactions.
The process of launching Shadow token (SHDW) trading on Coinbase will be carried out in several phases to ensure a secure and efficient integration into the platform.
In the first phase, which marks the beginning of this process, trading of SHDW against the US dollar (SHDW-USD) will be allowed.
This means that users will be able to buy and sell SHDW using dollars as the reference currency.
During the early stages of trading, Coinbase will be keeping an eye on demand for the SHDW token and overall market stability.
This initial evaluation is crucial to understanding how users react to the new asset, how prices fluctuate, and how transactions generally develop.
Based on the assessment of market demand and stability, Coinbase may consider expanding SHDW trading to other trading pairs.
This could include enabling the exchange of SHDW for other popular cryptocurrencies on the platform, such as Bitcoin (BTC) or Ethereum (ETH), providing users with more options to diversify their investments and participate in different markets.
It is important to note that the availability of support for SHDW may be restricted in some jurisdictions supported by Coinbase, so users should check availability in their region.
SHDW‘s listing on Coinbase underscores the platform’s continued commitment to innovation and adoption of new technologies within the cryptocurrency space.
While cautioning against the high volatility associated with newly introduced and less- traded assets, Coinbase seeks to provide its users with access to a diverse range of digital assets, while emphasizing the importance of trading prudently in a dynamic and evolving market.
