SAN FRANCISCO–Saturday, July 20, 2024 – Cryptocurrency exchange Coinbase announced the addition of Stader (SD) to its coin listing roadmap, triggering a surge in the token’s value. Stader, the native token of the Stader Labs platform, serves governance and transaction purposes within its ecosystem.
Following the announcement, SD’s price more than doubled, reaching a high of $0.8507 before settling at $0.7296. This represents a 79.46% increase over 24 hours. Weekly performance also saw a gain of 15.38%. Trading activity spiked, with 24-hour volume reaching $6.6 million.
Coinbase’s influence extends beyond listings.
The company recently secured a $32.5 million contract with the U.S. Marshals Service for digital asset custody, reflecting growing government adoption of blockchain technology.
Additionally, Coinbase was also named custodian for VanEck’s HODL Bitcoin ETF, adding to its portfolio of eight other Spot Bitcoin ETF custodianships.
These developments solidify Coinbase’s position as a major player in the cryptocurrency market.
While SD is not yet listed for trading on Coinbase, its inclusion on the roadmap signals potential future availability and has demonstrably boosted investor interest.
