News
Coinbase Adds Stader (SD) to Listing Roadmap, Token Soars 100%
Coinbase, a major player in the cryptocurrency exchange market, recently announced its plan to add Stader (SD) to its coin listing roadmap. This news has caused quite a stir in the cryptocurrency community, demonstrating the significant impact that listings on major exchanges can have on digital assets.
Stader Price Increase and Market Performance
Cryptocurrency exchange giant Monetary base announced the inclusion of Stader (SD) in its coin listing roadmap, triggering a significant increase in the token’s value. Stader (SD) is the main cryptocurrency of the Stader Labs platform, used for governance and settlement of transactions within the ecosystem.
Following Coinbase’s announcement, Stader (SD) saw a significant price increase. token the value has more than doubled, reaching a high of $0.8507 before settling at $0.7296. Even at this slightly lower price, Stader still saw an impressive increase of 79.46% in a 24-hour period. The token’s weekly performance has also shown strength, with the price appreciating by 15.38% over the past seven days.
The news triggered a surge in trading activity for Stader, with its 24-hour trading volume reaching $6.6 million. With a circulating supply of 41 million SD tokens, Stader’s market cap is $30,843,216. These figures reflect the significant impact of Coinbase’s announcement on Stader’s market performance and investor interest.
Read also: U.S. House expected to uphold Biden’s veto of SAB 121
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 deal with United States Marshals Service (USMS)
for the 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 confidence in digital currencies.
Additionally, Coinbase has been appointed as an additional custodian for VanEck Bitcoin HODL ETF. This agreement, announced on June 28, outlined specific terms to protect 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 BlackRock, Bitwise, and Grayscale. These developments further solidify Coinbase’s position as a trusted and influential player in the cryptocurrency ecosystem.
Read also: YieldMax Introduces FIAT ETF to Protect Itself from Coinbase