PONKE spikes 10% after Binance announces perpetual contract listing

• PONKE price jumps 10% amid Binance Futures listing
• Binance has recently listed perpetual contracts for several meme coins, including GOAT

Binance has announced the listing of the PONKEUSDT perpetual contract, with traders getting up to 75x leverage as of November 4 at 12:30 UTC.

PONKE, a meme coin on Solana that has seen significant community interest amid market resurgence, surged more than 10% after the news. The price of PONKE had traded near $0.46 early Monday, but went vertical to near $0.55 as traders reacted to the Binance Futures news.

Last week, the price of meme coin Goateus Maximus also rocketed as Binance added a perpetual contract for GOAT.

Ponke price surges 10%

Gains for the PONKE meme coin come as most cryptocurrencies eye upward bounce following this weekend’s dip.

Per data from CoinMarketCap, Ponke was among the largest 24-hour gainers in the top 500 by market cap. PolitiFi tokens MAGA and TRUMP were seeing the most gains as polls suggested Donald Trump is leading Kamala Harris in the race for White House.

Binance has not announced spot trading support for Ponke, but the community is excited at the visibility and traction that the perpetual contract listing brings.

Notably, this comes amid the social media commentary around token listing on Binance and Coinbase.

In a post on X, Coinbase CEO Brian Armstrong noted that the US-based crypto exchange charges $0 fees to token listing. This was in response to another post that claimed Binance had asked for millions of dollars to list a top tier project.

However, Fantom co-founder Andre Cronje refuted Armstrong’s claims, noting that Coinbase had asked for millions in listing fees, but Binance hadn’t. Tron founder Justin Sun also supported Cronje’s assertion.

Binance charged us $0.

Coinbase required us to pay 500 million TRX (worth $80 million) and demanded a $250 million BTC deposit in Coinbase Custody to boost their performance.

Lots of respect. But this is simply not true. https://t.co/faEgtGLLhW

— H.E. Justin Sun🌞(hiring) (@justinsuntron) November 4, 2024

Meanwhile, Binance co-founder Yi He, took to X to dismiss the FUD and to clarify the exchange’s listing policy.