Just-In: Binance Expands Support For PEPE and FLOKI, Price To Rally?
The world’s largest crypto exchange Binance on Tuesday expanded support for newly listed meme coins PEPE and FLOKI.
Binance listed both PEPE and FLOKI in the Innovation Zone on May 5, but surprisingly adding PEPE and FLOKI to all products and services it offers.
Binance Adds PEPE and FLOKI on Cross Margin and Loanable Assets
According to an official announcement on May 9, Binance has added PEPE and FLOKI as borrowable assets on Cross Margin. It will allow users to trade PEPE and FLOKI in cross-margin trading, with applicable specific limits, collateral ratio, and rates.
The crypto exchange has added FLOKI/USDT and PEPE/USDT as the new cross-margin pairs. USDT pair accounts for the major trading volume for both meme coins.
In addition, Binance has added PEPE and FLOKI as new loanable assets under the Binance Flexible Loan product. It is an isolated, overcollateralized, open-term loan product offered by Binance. Users can keep their PEPE and FLOKI positions open indefinitely until the loaned and collateral digital assets, and the relevant Loan-to-Value (LTV) ratios are not exceeded.
Along with PEPE and FLOKI, the exchange added ALCX, IDEX, IMX, LQTY, PERP, REQ, RPL, and WING cryptocurrencies to the Binance Flexible Loan.
On Monday, Binance added SUI, FLOKI, and PEPE to Binance Convert, making users trade immediately against BTC, USDT, and other supported cryptocurrencies at zero fees. However, the crypto exchange suspended market order functions for cryptocurrencies including Shiba Inu (SHIB), FLOKI, and PEPE.
Also Read: Here’s Why A Market Crash Is Looming?
PEPE and FLOKI Price To Rally Again
Binance trading volume has jumped significantly after listing PEPE and FLOKI tokens. As per popular crypto analyst Michael van de Poppe predicts PEPE price will continue to decline to support levels $0.00000168 and $0.00000148 before starting to rally again. In fact, the price has recovered from support and moving higher.
PEPE price fell 17% in the last 24 hours, with the price currently trading at $0.00000192. The 24-hour low and high are $0.00000159 and $0.00000235, respectively. Furthermore, the trading volume has increased in the last 24 hours, indicating an interest among traders.
Meanwhile, FLOKI price trades at $0.0000343, down 7% in the last 24hrs and up 10% in a week. The 24-hour low and high are $0.000033 and $0.000037, respectively.
Also Read: Coinbase Legal Chief Sends Letter To US SEC On “Misguided” Rulemaking
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