Binance Lists PEPE Coin Into Its Innovation Zone

Sahana Kiran
Source – Outlook India

The cryptocurrency industry witnesses the launch of new digital tokens regularly. Off late, meme coins inspired by the success of Dogecoin [DOGE] and Shiba Inu [SHIB] have been taking the front stage. PEPE, a recently launched meme coin rose to fame in no time and has claimed a listing on several exchanges across the industry. Yet, the asset’s credibility has been questioned since it is new to the ecosystem.

This notion could soon be changing as the world’s largest cryptocurrency exchange, Binance revealed that it was onboarding PEPE. Another prominent meme coin, Floki Inu [FLOKI] also joined PEPE. However, it should be noted that both these assets were included in Binance’s innovation zone.

The Innovation Zone is an exclusive trading area where users can trade newly launched and potentially volatile tokens that may carry higher risks compared to other tokens.

Binance has announced that PEPE and FLOKI will be listed on their platform starting from May 5, 2023, at 16:00 [UTC]. Although trading is not available yet, users can deposit funds to prepare for trading. The trading pairs for the meme coin are PEPE/USDT and PEPE/TUSD. Furthermore, Binance plans to include FLOKI and PEPE as new assets that can be borrowed through Isolated Margins. The new margin pairs will become available within 48 hours. While this is certainly great news for the newly launched meme coin, the exchange goes on to suggest that PEPE has no utility.

PEPE’s market cap hits $1 billion

Amidst the news of this latest listing, the meme coin’s market cap witnessed a significant pump. At press time, the asset market cap remained around $1,264,145,312. Subsequently, the price of the meme coin also increased. PEPE was priced at $0.00000285 following a 75.8% daily surge. Additionally, just a while ago the cryptocurrency hit an all-time high of $0.00000302. This uptrend could persist as more exchanges are bound to list the token now that Binance has listed it.