Two Solana-Based Tokens Surge After Coinbase Announces Surprise Roadmap Listing

Two Solana (SOL)-based altcoins surged in price after Coinbase announced they could soon be trading on its platform.

On Tuesday, the top US crypto exchange added Shadow Token (SHDW) and Neon EVM (NEON) to its listing roadmap, which alerts customers that the company could soon add support for certain assets.

Shadow Token is a cryptocurrency designed for the sustainability and security of decentralized data storage infrastructure. It serves as the native token for the ShdwDrive network, a high-performance cloud storage platform.

SHDW, the 241st-ranked crypto asset by market cap, is trading at $2.11 at time of writing and is up more than 53% in the past 24 hours. The Singapore-based exchange Crypto.com also rolled out trading support for SHDW on its app on Wednesday.

Neon EVM is an Ethereum Virtual Machine (EVM) that aims to enable developers to build and deploy DApps from EVM chains to Solana. NEON serves as the project’s utility token for gas fees and governance.

NEON is trading at $1.70 at time of writing. The 527th-ranked crypto asset by market cap is up 21.5% in the past 24 hours.

Coinbase created its listing roadmap in 2022 to increase transparency and reduce the possibility of investors front-running new trading support announcements.

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