Succinct's native token PROVE experienced extreme volatility following its August 5 debut, initially plunging 55% to $0.61 before rallying 150% to a record $1.52 on August 6. The token stabilized at $1.31 with trading volume exploding 120,000% to over $1 billion in 24 hours, boosting its market cap beyond $253 million.
The surge followed simultaneous listings on Binance, Coinbase, Upbit, and Bitget alongside Succinct's mainnet launch. Binance further fueled momentum by distributing 15 million PROVE tokens through its HODLer Airdrop program to BNB stakers. Coinbase International amplified exposure by launching PROVE perpetual futures contracts on August 5 at 7 p.m. UTC, enabling leveraged trading without expiration dates.
PROVE's token generation event established a maximum supply of 1 billion tokens, with 195 million entering circulation initially. The Ethereum-based protocol provides a decentralized zero-knowledge proving network, supporting over 1,700 programs and securing $4 billion across 35 integrated protocols including Polygon and Celestia. Backed by Paradigm's $55 million Series A funding, PROVE facilitates payments, incentives, and governance within Succinct's ecosystem.