Stader ($SD) Jumps 90% on Coinbase Listing News

The price of Stader ($SD) has jumped by a remarkable 90% after Coinbase announced it is considering listing the token. According to the announcement, $SD will be supported on the Ethereum network.

For context, $SD is the utility and governance token of Stader Labs, a non-custodial, multi-chain liquid staking platform that enables users to earn liquid staking rewards across multiple tokens, including ETH, BNB, and MATIC. $SD is an ERC-20 token with a total supply of 120 million coins across 16,350 holders.

Coinbase Considers Listing $SD

The addition of $SD to the Coinbase listing roadmap suggests that the token has met the exchange’s listing standards across legal, compliance, and technical security — adding a level of credibility to the project. However, this does not guarantee that the token will eventually be listed on Coinbase. An asset already considered for listing could be removed later due to several factors best known to exchange.

It is important to note that the transfer of this token is not supported on Coinbase until an actual listing is officially announced. Thus, investors are strongly advised not to deposit their $SD tokens to the exchange before an official listing announcement to avoid permanent loss of funds.

$SD Soars

Following Coinbase’s latest announcement of adding $SD to its listing roadmap, the token quickly surged to as high as 90% to hit a market cap of $31.5 million. 

This performance demonstrates the significant impact a listing on a major exchange like Coinbase can have on the value of a digital asset. Moreover, a listing on Coinbase will help attract a larger audience and trading volume to a project, potentially fueling further growth.

$SD traded at $0.6357 at press time, representing a 56% surge in the past 24 hours.