Pons Skyrockets to New High After Binance Alpha Listing

Pons (PONS) reached a new all-time high of $0.52 on Thursday after listing on Binance Alpha, a platform that offers trading in new and emerging tokens.

The move lifted PONS to a market value of nearly $362 million, making it the 118th largest cryptocurrency by market capitalization.

Pons was added to Binance Alpha along with another meme coin called FLORK on September 2. PONS is only available for trading on Binance Alpha's version 1.0, using both market and limit orders.

The listing on Binance Alpha coincided with a weaker overall crypto market, as the total cryptocurrency market capitalization dropped over 2% to $2.26 trillion. Bitcoin (BTC) and Ethereum (ETH) also traded lower.