Plume’s price jumps 11% to $0.0634 after Binance confirms PLUME for HODLer Airdrops, fueling hype for a potential spot listing.
The price experienced an increase following Binance’s confirmation that the token would be included in its HODLer Airdrops program. The announcement resulted in an 11% increase in the token’s value and is now scheduled for spot listing.
Plume Prices Increase Concurrent with the Binance Airdrop Announcement
The price of Plume has increased by more than 11%, from $0.09 to $0.102. The action was initiated in response to Binance’s declaration to disseminate 150 million tokens.
Additionally, the token experienced an immediate increase in trading activity. The volume of derivatives has increased by 367% to nearly $100 million, according to data from Coinglass. This indicates a surge in speculative wagers that occurred before Binance’s listing. Even though the broader crypto sector experienced a decline of over 3%, PLUME’s daily trading volume increased by 283% on the spot market.
In addition to the airdrop hoopla, technical indicators bolstered the argument for Plume’s current rally. The token emerged from a consolidation range of $0.09–$0.11 and surpassed its 30-day moving average at $0.101, which is currently serving as short-term support. Analysts say the subsequent resistance is $0.115, as indicated by Fibonacci retracement levels.
Momentum indicators also indicate additional potential for Plume to climb in price. The RSI is currently below the overbought level, suggesting the possibility of further growth. The broader market backdrop renders the surge all the more remarkable. In 24 hours, the Altcoin Season Index experienced an 8.5% decline, while Bitcoin experienced a 3% decline.
Binance Introduces PLUME on the HODLer Airdrops Platform
In a recent post, Binance announced the introduction of PLUME on its HODLer platform. Investors would receive 150 million tokens from the exchange. This is equivalent to 1.5% of the total supply. It would be distributed among customers who subscribed to BNB to Simple Earn and On-Chain Yields between July 24 and July 27. Rewards will be deposited into eligible spot accounts shortly before the official listing’s launch.
Trading for the token will be formally launched on Binance on August 18 at 15:00 UTC, with pairs against USDT, USDC, BNB, FDUSD, and TRY. The “seed tag” is a label that Binance reserves for newer, higher-risk projects, and deposits initiated earlier in the day will be associated with the token.
Furthermore, the circulating supply will be 2.65 billion tokens at launch, 26.5% of the total 10 billion token limit. Binance has allocated 25 million tokens for liquidity and marketing incentives post-listing, in addition to the initial 150 million PLUME tokens airdropped. An additional 100 million tokens will be activated in six months.
Additionally, it is important to note that Galaxy Ventures is the token’s backing entity. Odisea operates an accelerator program that Plume recently implemented to assist emerging businesses within the RWA ecosystem. Centrifuge, Anchorage Digital, and OKX Ventures are among the prominent companies that have participated in the program, indicating the increasing institutional interest.
Plume is on the brink of a remarkable spot trading debut due to this Binance listing. The exchange’s HODLer Airdrops program has become increasingly influential in shaping the early momentum of tokens, as evidenced by the most recent increase in Plume’s price.
