Binance, the world’s largest cryptocurrency exchange, expanded support for newly launched meme currencies PEPE and FLOKI on Tuesday. On May 5, Binance included PEPE and FLOKI in the Innovation Zone but shockingly added PEPE and FLOKI to all its products and services.
Binance Now Supports PEPE And FLOKI For Cross Margin And Loanable Assets
Binance has announced PEPE and FLOKI as borrowable assets on Cross Margin, according to an official release made on May 9. Users can trade PEPE and FLOKI in cross-margin trading, with particular limitations, collateral ratios, and rates.
FLOKI/USDT and PEPE/USDT have been introduced as additional cross-margin pairings to the crypto exchange. The USDT pair has the most trading volume for both meme currencies.
Binance has added PEPE and FLOKI as loanable assets to its Binance Flexible Loan offering. Exchange offers an isolated, overcollateralized, open-term loan product. Users can keep their PEPE and FLOKI positions open forever if the borrower and collateral digital assets do not exceed the necessary Loan-to-Value (LTV) ratios.
Along with PEPE and FLOKI, the exchange introduced the cryptocurrencies ALCX, IDEX, IMX, LQTY, PERP, REQ, RPL, and WING to the Flexible Loan.
Binance launched SUI, FLOKI, and PEPE to Binance Convert on Monday, allowing users to trade for zero costs against BTC, USDT, and other supported cryptocurrencies. The crypto exchange, however, has stopped market order operations for cryptocurrencies such as Shiba Inu (SHIB), FLOKI, and PEPE.
PEPE and FLOKI Prices Expected to Rally Once Again
Binance’s trading volume increased dramatically with the addition of the PEPE and FLOKI coins. According to prominent crypto expert Michael van de Poppe, the PEPE price will continue to fall to support levels of $0.00000168 and $0.00000148 before beginning to rise again. Indeed, the price has recovered from support and is rising.
The price of PEPE has dropped 17% in the last 24 hours, and it is currently trading at $0.00000192. The 24-hour low and high are $0.00000159 and $0.00000235, respectively. Furthermore, trading volume has surged in the recent 24 hours, showing greater interest among traders.
Meanwhile, the FLOKI price is $0.0000343, down 7% in the past 24 hours and up 10% in the last week. The 24-hour low and high are $0.000033 and $0.000037, respectively.
Overall, Binance’s expanded support for PEPE and FLOKI is expected to contribute to another price rally for these meme currencies. However, as with any cryptocurrency investment, traders should exercise caution and research before making decisions.
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