PONKE’s price rises 19% after Binance offers support with a futures listing and up to 75x leverage.
The Solana-based meme coin Ponke (PONKE) saw a 19% price surge following Binance’s announcement of a USDⓈ-Margined PONKEUSDT Perpetual Contract.
Set to launch on November 4, 2024, the contract will offer up to 75x leverage, presenting new trading opportunities and boosting enthusiasm among PONKE supporters.
PONKE Price Soars with Major Support from Binance
As per Binance’s official announcement, the PONKEUSDT perpetual contract will be available starting November 4 at 12:30 UTC, featuring 75x leverage and round-the-clock trading.
Notable elements include a tick size of 0.00001 and a maximum funding rate of ±2.00%, with fees settled every four hours.
Binance’s Multi-Assets Mode also enables BTC as collateral, adding flexibility to margin trading.
The exchange reserves the right to adjust contract details, including funding fees, leverage, and tick size, based on market conditions to align with risk levels.
Built on Solana, PONKE benefits from the blockchain’s fast and low-cost transactions, appealing to traders and gaming enthusiasts.
Its community-driven model, unique tokenomics, and accessibility on major exchanges boost its market appeal.
The active #ponkyarmy community further drives engagement with governance roles and a strong social media presence.
Will the Rally Continue?
Since the Binance listing announcement, PONKE’s price rose by 19%, trading at $0.49, with a 24-hour low of $0.43 and a high of $0.56.
Its trading volume reached $77 million in the past 24 hours, signaling strong interest. PONKE, with a market cap of $274 million, continues to attract meme coin fans.
Recent data from Coinglass also shows increased open interest in PONKE, suggesting optimism for further price growth.
Since its launch in late 2023 with a total supply of 555 million tokens, PONKE has reached an all-time high of $0.70 four months ago.
With its deflationary burn mechanism and community-driven model, PONKE is well-positioned in the Solana ecosystem, attracting meme coin enthusiasts and investors looking for Solana-based asset growth.
