In the dynamic landscape of cryptocurrency markets, a notable shift has occurred from the cautious delisting of altcoins to the proactive listing of new assets. Coinbase, a leading crypto exchange, has revealed its plans to list Shadow Token (SHDW), signaling increased positivity in what is termed a bull market phase. This move contrasts the previous bear market where exchanges delisted assets to cut costs and reduce market-making expenses.
Shadow Token Enters the Spotlight
Shadow Token’s proposed listing on Coinbase has already had a significant impact on its market performance. Following the announcement, SHDW’s price soared by over 30%, pushing its value beyond the $2.35 mark. This promising altcoin, with a market capitalization of under $300 million and a daily trading volume hovering around $2.2 million, shows potential for further ascent, powered by the listing’s momentum. Access COINTURK FINANCE to get the latest financial and business news.
Price Surge and Investor Caution
Despite the current surge, history suggests that a “sell the news” scenario could manifest post-listing, a trend frequently observed with Coinbase listings. At the time of reporting, Shadow Token’s price has breached the $3 threshold, reflecting the heightened investor interest and speculative trading surrounding the listing news.
Points to Take into Account
- Shadow Token’s price rally could be temporary, influenced by the Coinbase listing announcement.
- Post-listing price corrections are common and should be factored in by investors.
- Market capitalization and trading volume may indicate the potential for growth or volatility.
While Coinbase’s announcement brings Shadow Token into the limelight, investors are advised to approach with caution, considering the likelihood of post-listing price adjustments and the token’s current market indicators.