Solana’s Shadow Token (SHDW) and Neon (NEON) are soaring: Here’s why

• Solana tokens Shadow Token and Neon rose sharply on Wednesday, hitting highs of $2.49 and $1.96 respectively.
• Coinbase announced it will list SHDW and NEON tokens.

Solana tokens Shadow Token (SHDW) and Neon (NEON) are among those to post huge upside moves in the past 24 hours. SHDW has spiked more than 50% while NEON added more than 21% as the Solana ecosystem continues to experience greater growth.

At the time of writing, Shadow Token price was at $2.09, slightly lower from the intraday high of $2.49 reached earlier.

Meanwhile, NEON changed hands at $1.78. The token had earlier jumped to highs of $1.96 as the market reacted to Coinbase related news.

Coinbase to list SHDW and NEON

Leading US-based crypto exchange has announced that two Solana-based tokens – Shadow Token and NEON EVM are now added to its listing roadmap. This is a formal communication from the Coinbase team that they will be listing the given token(s).

Assets added to the roadmap today: Shadow Token (SHDW) and Neon EVM (NEON) https://t.co/rRB9d3hSr2

— Coinbase Assets 🛡️📞 (@CoinbaseAssets) March 27, 2024

In this case, an official announcement is yet to be made. However, the exchange has confirmed plans to list SHDW and NEON.

SHDW is the native utility token of Shadow, a decentralised physical infrastructure network (dePIN). The project provides for blockchain-based storage and compute capabilities. The SHDW powers this ecosystem, allowing users to pay for services including decentralised data storage and compute.

NEON is the utility token of the Neon EVM platform. Developers can tap into the Ethereum Virtual Machine (EVM)-compatible network to build and deploy Ethereum-native decentralised applications (dApps) on Solana.