Binance Alpha Listing Drives SKATE Token Price Up by 33%

Binance, the world’s leading cryptocurrency exchange, has announced the listing of Skate (SKATE) on its Alpha platform. 

Alongside this, Binance Futures will launch the SKATEUSDT perpetual contract, offering traders up to 50x leverage. This announcement triggered a double-digit rise in the price of altcoin during pre-market trading.

Binance Alpha Announces SKATE Listing

SKATE is the native utility and governance token that powers Skate’s multi-VM infrastructure. The total supply is capped at 1 billion tokens, with 10% allocated for the initial airdrop. This distribution will reward early participants who contributed to the platform’s adoption.

According to Binance’s official announcement, SKATE trading will commence on June 9, 2025, at 10:00 UTC on Binance Alpha. Furthermore, futures trading will begin at 10:30 UTC on the same day.

“Binance is the first platform to feature and open trading for Skate (SKATE) on Binance Alpha and Binance Futures,” the exchange wrote.

Along with the listing, the exchange is also rolling out an exclusive airdrop for eligible users. Starting June 9, 2025, at 10:00 UTC, Binance users will have the opportunity to claim their share of SKATE tokens by using Binance Alpha Points. The airdrop event will be available for 24 hours, concluding on June 10, 2025, at 10:00 UTC. 

“Eligible users need to use Binance Alpha Points to claim their airdrop on the Alpha event page, which will be published on June 9 with the activity rules,” Binance noted.

This dual listing marks a significant milestone for SKATE’s debut. It offers traders access to spot and leveraged futures trading, and is expected to boost market participation and liquidity for the new token.

Notably, the announcement also impacted SKATE’s price. The altcoin rose by 33.3%, reaching $0.20 in pre-market trading on MEXC. This surge reflects strong early demand for the token.

Crypto exchange MEXC launched SKATE pre-market trading on June 4, 2025, at 06:00 UTC. This over-the-counter (OTC) service essentially allows traders to buy and sell SKATE tokens ahead of their official market launch.

Meanwhile, besides Binance, Bybit will also support SKATE trading starting June 9. Moreover, the exchange has kicked off a Megadrop event. 

Users can stake Mantle (MNT) and Tether (USDT) to earn from a 10,000,000 SKATE token pool. The event started on June 3, 12:00 PM UTC, and will run until June 7, 2025, 11:59 PM UTC, with random snapshots taken during this period. This further amplifies the project’s visibility.