Pons (PONS) reached a record $0.52 on Thursday, after Binance Alpha opened trading in the token. PONS last traded near $0.50, up 21.87% over 24 hours.

The move lifted the Robinhood Chain launchpad token to a market value near $362 million. PONS now ranks 118th by market capitalization.

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Binance Alpha Listing Lands in a Softer Market

Binance Wallet said on September 2 that PONS and another meme coin, FLORK, were added to Binance Alpha. PONS trades on Alpha 1.0 only, through market and limit orders.

The double-digit advance stands against a weaker backdrop. The total crypto market capitalization dropped over 2% to $2.26 trillion. Bitcoin (BTC) and Ethereum (ETH) both traded lower.

FLORK drew speculative money as well. According to Wu Blockchain, the meme coin climbed about 293% and added more than 80% after entering Binance Alpha. Its market value briefly reached roughly $17.5 million.

Pons Ranks Among Robinhood Chain’s Busiest Tokens

Trading activity backs the price move. PONS logged 95,969 trades from 8,014 wallets over the past day, according to a Dune dashboard tracking Robinhood Chain.

That activity produced $64.94 million in daily turnover. Therefore, PONS ranked among the three most-traded assets on the network over the period.

Lifetime figures are larger. The token has cleared $702.12 million in cumulative volume across more than 2.1 million trades and 66,422 unique traders. BeInCrypto previously reported that the launchpad cleared $4.54 billion in volume on Robinhood Chain. 

PONS now trades about 3% below its peak. Whether the listing bid holds may depend on how long it holds the trader’s attention.

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Source: BeInCrypto