Stader (SD) Price Skyrockets 100% After Coinbase Lists It on Its Coin Listing Roadmap
- WBOYOriginal
- 2024-07-16 12:17:25823browse
Coinbase's recent announcement regarding the inclusion of Stader (SD) on its coin listing roadmap has had a profound impact on the cryptocurrency's market dynamics.
Coinbase adding Stader (SD) to its coin listing roadmap has had a significant impact on the cryptocurrency, leading to a massive price increase.
According to CoinGecko data, SD saw an impressive price increase of around 100% in just four hours of the announcement. The token started the day at $0.417695 and surged to a peak of $0.8507.
At the time of writing, SD is trading at $0.7217, still showing a substantial gain of around 75%. The token’s weekly performance was also noteworthy, with a 17.9% price increase in the last seven days.
Following the announcement, Stader (SD) saw a surge in trading activity, with its 24-hour trading volume reaching $12 million. The token has a circulating supply of 41 million SD tokens, giving it a market capitalization of $29,868,535.
These numbers indicate a major impact on Stader’s market performance and investor interest due to Coinbase’s announcement.
Coinbase’s influence in the cryptocurrency market extends beyond token listings. The firm recently secured a $32.5 million contract with the U.S. Marshals Service (USMS) for the custody and administration of large-cap digital assets.
This agreement marks a significant step in the government’s use of blockchain technology for asset management and showcases the public’s growing trust in virtual currencies.
Furthermore, Coinbase was also named as an additional custodian for VanEck’s HODL Bitcoin ETF. Announced on June 28, the agreement outlines specific conditions for safeguarding the Bitcoin assets of the ETF issuer.
Coinbase already serves as the custodian for eight other Spot Bitcoin ETFs, including those from major market players like BlackRock, Bitwise, and Grayscale. This appointment adds to Coinbase’s already impressive portfolio of custodianships.
These developments solidify Coinbase’s position as a trusted and prominent player in the cryptocurrency market.
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