Binance, the world's leading cryptocurrency exchange, announced the listing of Skate (SKATE) on its Alpha platform.
Additionally, the Binance Futures platform will launch the perpetual SKATEUSDT contract, providing traders with up to 50x leverage. This announcement led to the altcoin price rising by over 10% during pre-market trading.
Binance Alpha announced the listing of SKATE
SKATE is the native service and governance token that powers the multi-virtual machine infrastructure of Skate. The total supply is one billion tokens, with 10% allocated for the initial distribution. This distribution will reward early users who contributed to the platform's adoption.
According to the official announcement from Binance, SKATE trading will begin on June 9, 2025, at 10:00 UTC on Binance Alpha. Futures trading will also start at 10:30 UTC on the same day.
Binance is the first platform to offer and open trading on Skate (SKATE) on Binance Alpha and Binance Futures," wrote the exchange.
Along with the listing, the platform is also launching an exclusive airdrop for eligible users. Starting June 9, 2025, at 10:00 UTC, Binance users will be able to receive their share of SKATE tokens using Binance Alpha points.
The airdrop event will be available for 24 hours, ending on June 10, 2025, at 10:00 UTC.
"Eligible users must use Binance Alpha points to claim their airdrop on the Alpha event page, which will be published on June 9 with event rules," Binance noted.
This dual listing represents a significant milestone in the launch of SKATE. It allows traders to engage in spot trading and leveraged futures, and is expected to boost the market share and liquidity of the new token.
It is worth noting that this announcement also affected the price of SKATE. The altcoin rose by 33.3%, reaching $0.20 in pre-market trading on the MEXC platform. This increase reflects strong initial demand for the token.
The MEXC cryptocurrency exchange launched SKATE trading before its public offering on June 4, 2025, at 6:00 UTC. This service, offered over-the-counter (OTC), allows traders to buy and sell SKATE tokens before they are officially launched in the market.
In the meantime, in addition to Binance, Bybit will also support SKATE trading starting June 9. The exchange also launched the Megadrop event.
Users can stake Mantle (MNT) and Tether (USDT) to win from among 10,000,000 SKATE tokens. The event started on June 3 at 12:00 PM UTC and continues until June 7, 2025, at 11:59 PM UTC, with random snapshots taken during this period. This enhances the project's visibility.