SKATE Token Jumps 33% Pre-Market as Binance Alpha Fuels Listing Frenzy

Another day, another crypto moonshot—this time it's SKATE Token rocketing a third of its value before the opening bell. Binance Alpha's listing announcement lit the fuse, proving once again that exchange listings remain the crypto world's version of a magic bean.

Pre-market traders piled in like it was a Black Friday doorbuster, ignoring the fact that fundamentals haven't changed. The surge mirrors the classic pattern: whisper of exchange listing → speculative frenzy → inevitable correction. But who cares about cycles when there are Lambos to dream about?

While the SKATE team high-fives over their sudden paper gains, seasoned traders watch with knowing smirks. After all, in crypto, what goes up must come down—unless you're Bitcoin, in which case Wall Street will find a way to short it anyway.

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.