Sonic Chain’s SHADOW Token Rallies After Binance Alpha Listing, Surging Above $40

Sonic Chain’s first major token, SHADOW, has launched on Binance Alpha, and crypto users have observed an impressive rally in the digital asset's price.

Sonic Chain's first major token, SHADOW, has launched on Binance Alpha, and crypto users observed an impressive rally in the digital asset's price.

CoinGecko's data showed that SHADOW surged on Thursday, May 1, increasing from below $27 to over $44 in less than one hour. The token is the native cryptocurrency of Shadow Exchange, a concentrated liquidity layer built on the Sonic (Formerly Fantom) blockchain. Following the sudden rally in SHADOW's price and value, crypto analysts highlighted the launch on Binance Alpha as a significant event. This launch would expose the innovative cryptocurrency to the widespread Binance community for increased adoption.

Many crypto users noted that SHADOW's underlying qualities appear to play a notable role in the adoption process, especially amid a struggling cryptocurrency market. For instance, many crypto users found Shadow Exchange more fluid and accessible than alternatives, and that accessibility attracts more users to the platform. Increased platform use, in turn, creates demand for the SHADOW native cryptocurrency.

It is worth noting that SHADOW's flexibility allows users to convert the crypto asset to xSHADOW. This conversion positions users for 100% earning potential on protocol fees, and is an incentive that boosts SHADOW's adoption. Additionally, the crypto asset affords its holders voting incentives and rebates from its native platform.

Sonic is renowned for transaction speed. This core blockchain quality gives Shadow Exchange a positive reputation, and this speed specifically fascinates users seeking fast transactions. Sonic's speed also contributes significantly to making Shadow Exchange one of the hottest ecosystems on Sonic. This popularity is clearly reflected in the impressive growth of the platform's native crypto, SHADOW.

According to CoinGecko's data, SHADOW traded for $39.56 at the time of writing, reflecting a 54.2% surge in less than two hours. The digital asset's recent growth has captured crypto users' attention, including an impressive surge in value that saw SHADOW's market cap rise from around $9.75 million to about $16.14 million in a couple of hours.