The SHADOW token rose by 54% after its debut on Binance Alpha, jumping from $27 to over $44 in just one hour.
The market capitalization of SHADOW on the Sonic blockchain increased by $6 million due to the rapid adoption of Shadow Exchange.
The launch of SHADOW draws attention to the dynamics of the DeFi market of Sonic Chain, despite the overall market volatility.
The first major token of Sonic Chain, SHADOW, was launched on Binance Alpha, and cryptocurrency users observed an impressive increase in the price of the digital asset. CoinGecko data shows that SHADOW sharply rose on Thursday, May 1, 2025, jumping from a level below $27 to over $44 in less than an hour.
According to the token description, SHADOW acts as the native cryptocurrency of Shadow Exchange, a concentrated layer of liquidity built on the Sonic blockchain (formerly Fantom).
After the sudden price and value increase of SHADOW, crypto analysts consider the launch on Binance Alpha a significant event and an opportunity to introduce an innovative cryptocurrency to the broader Binance community for wider adoption.
Core features drive adoption
Meanwhile, the core qualities of SHADOW seem to play a notable role in the adoption process considering its impressive performance amidst the troubled cryptocurrency market. For instance, many cryptocurrency users find Shadow Exchange more flexible and accessible than alternatives, and this accessibility attracts more users to the platform. The increased usage of the platform, in turn, creates demand for the SHADOW cryptocurrency.
It is worth noting that the flexibility of SHADOW allows users to convert their crypto asset into xSHADOW. This conversion positions users for a 100% potential income from protocol fees and serves as an incentive that drives SHADOW adoption. Additionally, the crypto asset provides its holders with voting rewards and discounts from its native platform.
Utilizing the speed of the Sonic blockchain
Sonic is renowned for its transaction speed. This core quality of the blockchain gives Shadow Exchange a positive reputation, and this speed particularly fascinates users looking for fast transactions.
The speed of Sonic also significantly contributes to Shadow Exchange becoming one of the hottest ecosystems on Sonic. This popularity is vividly reflected in the impressive growth of the platform's native cryptocurrency, SHADOW.
Latest price and market data for $SHADOW
According to CoinGecko, at the time of writing, SHADOW was trading at $39.56, reflecting a 54.2% increase in less than two hours.
The recent growth of this digital asset has attracted the attention of cryptocurrency users, including an impressive spike in value that resulted in SHADOW's market capitalization rising from approximately $9.75 million to about $16.14 million in just a couple of hours.