Ponke Price Surges 10% as Binance Lists Perpetual Contract

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

Binance to List Ponke Perpetual Contract at 75x Leverage As crypto markets continue to see a wave of meme coins, Binance has announced the listing of the PONKEUSDT perpetual contract.

The move comes after traders had expressed interest in having perpetual contracts for meme coins listed on the exchange.

Binance will be offering traders up to 75x leverage on the PONKE perpetual contract, which will launch on Nov. 4 at 12:30 UTC.

Ponke price surges 10% following Binance announcement

PONKE, a meme coin on Solana, saw a surge of more than 10% after Binance announced the listing of its perpetual contract.

According to data from CoinMarketCap, PONKE was trading near $0.46 early Monday. However, following the news of the Binance Futures listing, the price of PONKE went vertical to near $0.55.

As traders reacted to the development, the price of PONKE soared by more than 10% from the early Monday price.

Last week, Binance also added a perpetual contract for GOAT, which saw the price of the meme coin skyrocket.

Ponke perpetual contract listing brings visibility

The gains for the PONKE meme coin came as most cryptocurrencies were eyeing an upward bounce following a dip over the weekend.

According to 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 yet announced support for Ponke spot trading, but the community is excited at the visibility and traction that the perpetual contract listing brings.

The development comes amid 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 fee but Binance hadn’t. Tron founder Justin Sun also supported Cronje’s assertion.

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