Plume gained traction on Monday after Binance confirmed its inclusion in the HODLer Airdrops program, sparking a surge in spot and derivatives activity ahead of the token’s trading debut.
Summary
- Plume joins Binance’s HODLer Airdrops program, boosting interest ahead of trading launch.
- Spot volumes and derivatives activity surged as traders positioned early.
- The listing follows a series of ecosystem updates aimed at expanding adoption.
PLUME surged over 10% in the past 24 hours, trading at $0.1054 at press time, driven by Binance’s announcement of its inclusion in the HODLer Airdrops program.
Market activity has been notable with spot trading volume jumping 175% to $46.55 million. Futures open interest climbed 22.8% to $46.6 million and derivatives volume surged 367.5% to nearly $99.4 million, according to Coinglass data.
Binance listing ignites PLUME rally
Binance announced on Aug. 18 that it will distribute 150 million PLUME tokens, equal to 1.5% of supply, to users who subscribed BNB (BNB) through Simple Earn and On-Chain Yields between July 24 and 27. The exchange said rewards will be distributed ahead of the token’s spot listing, which opens later during the Aug. 18 listing day.
This catalyst spurred immediate buying interest, with trading and futures activity nearly eclipsing the token’s entire weekly average in a few hours. Following the listing, Binance will designate 25,000,000 PLUME tokens for marketing and liquidity initiatives. The listing is taking place just two months after Plume launched its mainnet.
Plume’s rally comes at a time when Binance is actively expanding its HODLer Airdrops initiative, which recently included smaller tokens like LISTA and ETHFI. The program has become a major liquidity driver for early-stage assets, often triggering rapid spikes in trading volume after listings.
PLUME technical analysis
The impact of the listing news is reflected in the price chart. After trading in a narrow band between $0.09 and $0.11 the previous week, Plume surged sharply, breaking through the middle Bollinger band. The price is gaining momentum toward recent highs near $0.1103.
In addition, the relative strength index increased, crossing over 60, indicating strong buying pressure but allowing for some room before overbought levels are reached.
If the token breaks through the resistance at $0.11, short-term momentum might move it toward the $0.12 range. Support would be around $0.095 if current levels are not maintained, and a deeper pullback towards $0.089 might also happen if sentiment weakens.
