- PONKE price rises 10% with Binance Futures listing
- Binance recently listed perpetual contracts for several meme coins, including GOAT.
As of 12:30 UTC on November 4, Binance announced the listing of the PONKEUSDT perpetual contract, which will allow traders to gain up to 75x leverage.
Solana’s meme coin PONKE, which has been receiving a lot of community attention amid the market resurgence, soared more than 10% after the news broke. PONKE’s price was trading near $0.46 early on Monday, but rose vertically to near $0.55 as traders reacted to the Binance Futures news.
Last week, the price of meme coin Goateus Maximus also surged as Binance added a perpetual contract for GOAT.
Ponke price surges 10%
The rise in the PONKE meme coin comes as most cryptocurrencies look to bounce back after this weekend’s decline.
Ponke had the biggest 24-hour gain among the top 500 stocks by market capitalization, according to data from CoinMarketCap. PolitiFi tokens MAGA and TRUMP gained the most as polls suggested Donald Trump was ahead of Kamala Harris in the race for the White House.
Binance has not announced spot trading support for Ponke, but the community is very excited about the visibility and traction that perpetual contract listings bring.
Notably, this comes amid social media commentary on token listings on Binance and Coinbase.
In a post on X, Coinbase CEO Brian Armstrong noted that the US-based cryptocurrency exchange charges a $0 fee for listing tokens. This was in response to another post claiming that Binance had requested millions of dollars to register top projects.
However, Fantom co-founder Andre Cronje refuted Armstrong’s claims, pointing out that Coinbase demanded millions of dollars in listing fees while Binance did not. Tron founder Justin Sun also supported Cronje’s claims.
Binance charged us $0.
To boost performance, Coinbase paid 500 million TRX (equivalent to $80 million) and required $250 million in BTC deposited into Coinbase Custody.
Much respect. But this is not true. https://t.co/faEgtGLLhW
— HE Justin Sun🌞(Recruitment) (@justinsuntron) November 4, 2024
Meanwhile, Binance co-founder Yi He visited X to dismiss the FUD and clarify the exchange’s listing policy.