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PONKE spikes 10% after Binance announces perpetual contract listing

  • PONKE price has jumped 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 from Nov. 4 at 12:30 UTC.

PONKE, a meme coin on Solana that has recently 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 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 fee but Binance hadn’t. Tron founder Justin Sun also supported Cronje’s assertion.

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

The post PONKE spikes 10% after Binance announces perpetual contract listing appeared first on CoinJournal.

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Crypto fear and greed index dive as focus shifts to Vantard

The crypto fear and greed index continued falling, reaching its neutral zone of 56, as most coins retreated. 

Bitcoin moved to $68,000, much lower than this month’s high of $73,500. Similarly, Ethereum token fell to $2,400, while the total market cap of all cryptocurrencies dropped to $2.28 trillion. 

Some of the worst-performing coins were Grass, Solana, Goat, and Sui, which have dropped by almost 10% in the past few months. In most periods, cryptocurrencies drop when the fear and greed index moves to the fear zone.

Trump odds fall

These coins have dropped as investors anticipate for the upcoming US general election, which could determine regulations in the coming years.

Most cryptocurrency investors favor a Donald Trump victory because he is one of them. He owns a crypto portfolio worth over $6 million and has pledged to become a crypto-friendly president. Polls show that the election is close in most swing states, making it more difficult to predict. 

Polymarket, the biggest player in the prediction market, shows that Donald Trump has higher chance of winning the election, with a 55% chance. While this is a big number, it is also lower than last week’s high of 67%, meaning that his odds are falling.

Therefore, the ongoing crypto weakness is a sign that investors are afraid that Harris could win the election. This also explains why the Trump Media & Technology (DJT) stock has plummeted in the past few days. Similarly, Trump-themed coins like MAGA, TRUMP, and DJT have plunged by double-digits.

In addition to the US election, cryptocurrencies will react to the upcoming Federal Reserve interest rate decision, in which officials are expected to cut interest rates by 0.25% after it slashed them by 0.50% in the last meeting. In most periods, cryptocurrencies do well when the Fed is cutting rates.

Read more: Traders turn to this first-of-its-kind Meme Portfolio as markets falter ahead of US elections

Vantard coin offering is doing well

Not all cryptocurrencies are struggling. Vantard, a Vanguard-inspired project is firing on all cylinders as its token sale accelerates. 

The project has already raised over $304,000 from investors, and could become the best-performing ICO of this year.

Vantard is doing well because of its promise to create a meme coin index fund. Historically, while most meme coins don’t have any utility, they have a long record of beating popular coins like Chainlink, Solana, and Binance Coin. 

Some of the most popular meme coins to watch are the likes of Popcat, Dogwifhat, GOAT, and Brett have done well this year. They have soared by more than 1,000% this year, which has brought their total market cap to over $60 billion.

Vantard is inspired by Vanguard, a company that has become an eight-trillion juggernaut, mostly because of its ETFs and mutual funds. For example, the Vanguard S&P 500 index (VOO) has accumulated over $500 billion in assets, a figure that has continued growing in the past few months. 

Vantard’s top tokens will be $VTARD, which will be made of a basket of popular cryptocurrencies. Holders of the tokens will be able to redeem it against the Treasury. 

Therefore, the Vantard token could continue doing well when the Federal Reserve continue cutting interest rates in the coming months. It will also benefit from the stability brought with the end of the election and the Santa Claus Rally. Find more on Vantard here.

The post Crypto fear and greed index dive as focus shifts to Vantard appeared first on CoinJournal.

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Tether CEO: we’re not launching a blockchain as “neutrality is very important” to us

  • Paolo Ardoino said that it’s not launching a Tether chain at the moment because “neutrality is very important”
  • Tether’s focus right now is partnering with businesses and communities rather than “trying to centralize everything”
  • Tether had another record-breaking quarter, resulting in $7.7 billion in profit over nine months

The CEO of Tether has ended rumors about a Tether Chain, stating that it’s “not planning to build an official blockchain at this time.”

Paolo Ardoino took to X to post his message, adding that “different independent L2 solutions are working to support $USDt for gas fees.”

In a follow-up tweet, Ardoino explained that one of the main reasons that Tether won’t launch a chain anytime soon is because “neutrality is very important.”

According to Ardoino, the company’s interest lies in teaming up with businesses and communities rather than “trying to centralize everything.” When asked if Tether is planning to launch a chain in the medium-long term future, Ardoino responded with “don’t think we will, but still it’s fair to not exclude any possibility.”

Another impressive quarter

At the end of October, Tether published its Attestation Report for Q3 2024. Reporting a “strong performance,” the stablecoin issuer noted that the latest quarter marked another “record-breaking milestone for Tether” resulting in $7.7 billion in profit over nine months.

Additionally, Tether’s stablecoin issuing companies managing reserves now hold more than $105 billion in cash and cash equivalents, with $102.5 billion in direct and indirect exposures to US treasuries. According to Tether, if it was classified as a country, it would be among the top 18, above Germany, Australia, and the UAE.

Speaking on this, Ardoino said:

“Reaching the $120 billion USD₮ milestone and reporting $102.5 billion in U.S. Treasury exposure highlights the company’s unparalleled financial strength. By increasing our reserve buffer to over $6 billion and maintaining a focus on strategic investments, Tether is once again setting the standard for stability in the financial space.”

Turning Tether’s attention to Q4 2024, Ardoino said the outlook is “very positive” with the growth of on-chain wallets per quarter rising to more than 35 million new addresses. For Ardoino, this is significant as the use of Tether is predominantly used in developing countries and emerging markets.

Ardoino claims that while the Western world has talked about boosting financial inclusion in the 21st century, little has been achieved, in what’s called “Financial Inclusion washing.”

With Tether, Ardoino said, they have created a product “that truly serves the underserved, the last mile, the normal people, the ones that don’t have access to the tens of different payment options that richer countries have to offer…”

The post Tether CEO: we’re not launching a blockchain as “neutrality is very important” to us appeared first on CoinJournal.