Binance Announces Launch of Skate ($SKATE) Trading and Futures with 50x Leverage
Binance is set to list Skate ($SKATE) on its Alpha platform, marking a significant milestone for the cryptocurrency. Spot trading will begin on June 9, 2025, at 10:00 UTC, followed by perpetual futures trading for the SKATE/USDT pair at 10:30 UTC, offering leverage of up to 50x. This dual rollout—spot and derivatives—highlights strong institutional backing for $SKATE and is expected to enhance market liquidity through arbitrage opportunities. The launch underscores Binance's commitment to expanding its offerings and supporting emerging digital assets.
Binance to Launch Skate ($SKATE) Trading and Futures on June 9
Binance will list Skate ($SKATE) on its Alpha platform, with spot trading commencing June 9, 2025, at 10:00 UTC. Perpetual futures for SKATE/USDT pairs follow at 10:30 UTC, featuring leverage up to 50x.
The dual rollout—spot and derivatives—signals strong institutional support for the new asset. Market makers anticipate heightened liquidity as arbitrage opportunities emerge between both products.
Cardano Faces Critical Support Test Amid Weakening Trader Sentiment
Cardano (ADA) teeters on the edge of a breakdown as its $0.63 support level shows signs of faltering. The cryptocurrency has traded sideways for days, caught between descending resistance and horizontal support—a compression that typically precedes volatility. Despite maintaining a historically bullish stance, ADA's momentum is waning.
Funding rate data reveals a subtle but telling shift: bullish leverage traders are scaling back positions, with rates dipping to +0.0017%. This erosion of confidence coincides with imbalanced positioning on major exchanges like Binance, where sell pressure appears to be mounting. The market's unusual calm masks growing tension between buyers and sellers.
Unlike broader crypto market swings, ADA's price action has remained eerily stagnant—often a precursor to sharp moves. Traders now watch for a decisive break below $0.63, which could trigger cascading liquidations. "Markets sleepwalk before they sleep plunge," observes one derivatives trader, noting the quiet before potential storm.
Maker (MKR) Dips 5% Despite Whale Staking and Bullish Breakout
Maker (MKR), the governance token of MakerDAO, fell 5% despite bullish signals, including whale staking and a technical breakout. The decline confounded investors, especially as two newly created wallets staked 1,502 MKR tokens—worth $2.67 million—sourced from Binance. Such moves typically indicate long-term confidence, reducing circulating supply and potentially supporting price growth.
The token recently broke above a key descending trendline on weekly charts, a resistance level holding since early 2024. This technical shift, coupled with MakerDAO's rebranding to SKY and new staking features, suggested upward momentum. Yet the price drop underscores lingering market skepticism or profit-taking amid broader crypto volatility.
