Binance, the world’s largest cryptocurrency exchange, announced that SUI, FLOKI, and PEPE would be added to Binance Convert. It will let users instantly trade these newly added tokens against BTC, USDT, and other cryptocurrencies Binance Convert supports.
Binance Convert is a tool that permits users to immediately purchase or sell cryptocurrencies without having to place orders on the exchange’s trading interface. Users prefer Binance Convert over Spot trading because it offers advantages like zero fees, cost-effectiveness, fast rates during large transactions, a minimum order size, and an adequate supply of liquidity.
Binance Convert Welcomes SUI, FLOKI, And PEPE To Its Instant Trading Platform
Binance Convert now supports SUI, FLOKI, and PEPE, according to an official announcement made on May 8. Users may now use Binance Convert to trade Sui Network’s native token SUI and meme currencies FLOKI and PEPE against BTC, USDT, and other tokens. Users can transfer their crypto to another crypto or fiat currency at zero fees.
Following a community request, Binance added SUI, FLOKI, and PEPE to its cryptocurrency exchange. PEPE and FLOKI saw huge buying from whales and investors, driving prices to rise dramatically. However, the PEPE and FLOKI excitement has subsided owing to profit booking, with some whales holding billions of tokens.
Users can visit the Binance website and choose Binance Convert from the Trade menu. Mobile users may launch the App, hit Trade, and then click Convert from the top menu to immediately convert crypto or fiat assets at any time with a live price based on current market circumstances and no fees.
Binance recently suspended market order functions for cryptocurrencies such as Shiba Inu (SHIB), FLOKI, and PEPE. The limits are most likely the result of volatility and hazards associated with trading meme coins.
PEPE is now trading at $0.00000231, down 11% from its last high. Meanwhile, FLOKI is down 4% in the last 24 hours, with the price presently trading at $0.0000374.
PEPE Token Soars, Marking An Unprecedented Surge
Although the PEPE price has grown dramatically in the three weeks since its launch, the probability of a sustained price increase in the coming days and weeks remains uncertain.
Although there are speculations that the listing of PEPE on Binance may have resulted in a local peak, experienced trader Bob Loukas thinks such an idea could be humorous.
PEPE’S Price Drops 42% Days After All-Time High
PEPE has seen a sharp decline of over 42% in its price within a few days of reaching its all-time high on May 6. This sudden fall has led to significant losses for some investors, with at least one recording paper loss worth hundreds of thousands of dollars.
On May 5, a cryptocurrency “whale” acquired 962.3 billion Pepe tokens for an average price of $0.000003122, using 70 Wrapped Bitcoin (WBTC) and 470 Ether (ETH), as per the data provided by the blockchain analytics service Lookonchain.
According to CoinGecko, PEPE has fallen 42% from its all-time high since then. The crypto investor’s PEPE assets are now estimated to be worth $2.4 million, representing a $600,000 unrealized loss.
Despite the recent price drop, Pepe still has a market value of slightly more than $1 billion, ranking it 45th in total worth.
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