Binance Announces SKATE Token Listing: Pre-Market Surge Signals Strong Demand

Binance has revealed plans to list SKATE, a new altcoin designed to power a multi-VM blockchain infrastructure, on its launchpad platform. The token is set to debut on June 9 at 10:00 UTC, with futures trading starting shortly afterward. Following the announcement, SKATE's price experienced a significant 33% surge in pre-market trading, highlighting robust investor interest. The SKATE token functions as both a governance and utility token for a blockchain project aimed at unifying decentralized applications (dApps) across multiple VIRTUAL machines (VMs). This listing underscores Binance's continued commitment to supporting innovative blockchain projects and providing early access to promising digital assets. The pre-market price movement suggests strong market confidence in SKATE's potential, making it one of the most anticipated token launches of the month. Investors and traders are closely monitoring the official trading launch, expecting heightened volatility and trading activity around the debut.

Binance Lists SKATE Token: Price Soars 33% Before Launch

Binance has announced the listing of SKATE, a new altcoin powering a multi-VM blockchain infrastructure, on its launchpad platform. The token will debut on June 9 at 10:00 UTC, with futures trading commencing shortly after. SKATE's price surged 33% in pre-market trading following the announcement, signaling strong investor interest.

The SKATE token serves as the governance and utility token for a blockchain aiming to unify decentralized applications across multiple virtual machines, including ethereum VM and Solana VM. With a total supply of 1 billion tokens, 10% has been reserved for an airdrop to early supporters.

Binance Alpha, the platform's launchpad for early-stage tokens, will host SKATE's initial listing before it moves to the main exchange. The futures offering, set to launch at 10:30 UTC, will provide Leveraged trading opportunities for speculators.

Binance Coin (BNB) Breaks Key Support at $640, Eyes Critical $600 Level

Binance Coin (BNB) has tumbled below a crucial support level, trading at $634.85 amid a 4.30% decline. The breach of the $640 threshold signals mounting bearish pressure, with the cryptocurrency now testing the $625.92–$600 support zone. A failure to hold this range could precipitate further downside.

Technical indicators underscore the deteriorating momentum. BNB trades below the lower Bollinger Band, reflecting heightened volatility and selling activity. Resistance NEAR $697.84 remains formidable, while the 9-period DEMA at $648.29 has flipped to resistance, reinforcing the short-term bearish outlook.

The market's rejection at $697.84 highlights persistent selling pressure. Traders now watch the $625.92 level closely—a decisive break below this support could accelerate losses toward $600.

US DoJ Moves to Seize $7.7M Linked to North Korean Crypto Laundering Case

The US Department of Justice has filed a complaint to forfeit $7.74 million in cryptocurrency tied to North Korean money laundering operations. The funds were allegedly raised by North Korean IT workers using fraudulent identities to infiltrate international companies, including blockchain firms.

Sim Hyon Sop, a representative of North Korea’s Foreign Trade Bank, facilitated the transfer of illicit proceeds before US authorities intercepted the funds during a laundering attempt. The seized assets include crypto and NFTs held in self-custody wallets and Binance accounts.

"This action underscores North Korea's exploitation of cryptocurrency to finance illegal activities," said Matthew R Galeotti of the DoJ's Criminal Division. The case highlights ongoing regulatory scrutiny of digital assets in national security contexts.

BNB Accumulation Signals Strength Amid Range Trading

Binance Coin (BNB) demonstrates robust accumulation patterns since March 2025, with steady buying pressure underscoring bullish sentiment. Despite trading between $531 and $725 since December 2024, the token's resilience hints at underlying strength. Range-bound action reflects a tug-of-war between buyers and sellers, delaying a decisive breakout but offering strategic entry points.

Binance Smart Chain (BSC) records a surge in decentralized exchange activity, with May's DEX volume hitting $178 billion. This growth reinforces BNB's utility in transactions, fees, and governance—a fundamental tailwind. Technical analysis suggests accumulation phases often precede breakouts, though patience remains key amid prolonged consolidation.