Leading cryptocurrency exchange Coinbase recently announced the addition of Stader (SD) to its coin listing roadmap. This news caused a stir in the community, demonstrating the significant impact that listings on major exchanges can have on cryptocurrencies. The announcement led to a dramatic increase in altcoin price and visibility. This emphasized the impact of exchange listings on cryptocurrency prices.
Coinbase adds Stader (SD) to its roadmap, token price skyrockets!
Crypto exchange Coinbase announced the addition of Stader (SD) to its coin listing roadmap. This important news led to a significant increase in the token’s value. Stader (SD) is the primary cryptocurrency of the Stader Labs platform used for governance and transaction payments within the ecosystem.
Stader (SD) experienced a significant price increase following Coinbase’s announcement. The token’s value more than doubled in a short time, reaching a high of $0.8507. However, the token subsequently lost altitude on a sell-off. However, despite this, SD is still flying high. At the time of writing, the token was trading at $0.614, up over 51% on a daily basis.
The news triggered increased trading activity for Stader, with 24-hour trading volume reaching $9.87 million, a massive 643% increase. With a circulating supply of 41 million SD tokens, Stader’s market capitalization is approximately $25 million. These figures reflect the significant impact Coinbase’s announcement had on Stader’s market performance and investor interest.
Stader is leveling up in the DeFi game!
As you have been following on Kriptokoin.com, Stader’s ETHx became a liquid staking token (LST) accepted for restake on EigenLayer on December 2023. From December 18, 2023, users will be able to restake their ETHx. These options aim to maximize rewards for ETHx holders and enhance the staking experience. Stader also integrated the Chainlink CCIP into the Ethereum and Arbitrum mainnets in June. Stader facilitates cross-chain secure transfers of ETHx by leveraging CCIP’s Simplified Token Transfer features. Stader is sponsoring the ETHx/ETH Chainlink Price Feed on Ethereum to increase ETHx adoption across DeFi.
According to Token Terminal data, Stader’s current total locked value (TVL) is $474.74 million. This represents a decline from its year-high of $706.84 million on March 13. However, Stader’s recent inclusion on Coinbase’s roadmap signals a vote of confidence in its potential, promising further growth and adoption in the crypto community.
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