The announcement from Binance seems to have caused some excitement in the market as PEPE saw an increase of over 40%, while FLOKI increased by over 60%.
Binance, the world’s largest cryptocurrency exchange, has Certain Inclusion of Floki Inu (FLOKI) and PEPE in the innovation area of its platform. According to the company, a 0 BNB registration fee applies to trading pairs that include the FLOKI and PEPE binary.
According to a published statement, Binance also confirmed that by the later part of the day, the exchange was going to open trading for spot pairs such as FLOKI/USDT, FLOKI/TUSD, PEPE/USDT, and PEPE/TUSD.
Thus, users are encouraged to start depositing either or both of the Memcoins in anticipation of the trade. FLOKI and PEPE deposits will be possible from today but users will not be allowed to withdraw until May 6th.
Changpeng ‘CZ’ Zhao, CEO (CEO) of Binance previously hinted that the exchange was skeptical about PEPE’s listing citing the fact that the meme coin lacks transparency and has a high-risk nature. During one of the “Ask Me Anything” sessions, CZ showed his Shiba Inu approval on the PEPE meme coin featuring the cartoon.
“We don’t like coins that have a very small circulating supply…but they have a large total reserve,” he said at Twitter Spaces held earlier this month, adding that “with a little bit of circulating supply, some coins are popular and people want them.” Because the price is really going up. But as more supply goes into circulation, the price could go down, and it’s more likely to go down or at least have a higher risk of going down. We try to avoid it.”
At the same time, he also indicated that he was not directly involved in the lists.
“We already have strict policies that even if we’re talking to the project team, we forbid them to disclose anything about listings, etc,” Zhao added.
FLOKI, PEPE, and other Memecoin are getting attention
Given the previous position of Czechoslovakia, it came as a surprise when the exchange confirmed the listings. Approximately 48 hours after listing launch, FLOKI and PEPE will be added as new borrowable assets on secluded margins along with new margin pairs FLOKI/USDT and PEPE/USDT.
The announcement appears to have caused some excitement in the market as PEPE saw an increase of over 40%, while FLOKI increased by over 60%.
FLOKI has been on other top cryptocurrency exchanges before now but listing with Binance has been expected for a very long time. In March, KoinBX, a leading cryptocurrency exchange, announced plans to list FLOKI for trading with the USDT and INR trading pairs. In general, there has been rave about FLOKI and many other memecoins
The platform behind memecoin Floki has proven its usefulness over time with various solutions such as crypto debit card, non-fongable token (NFT) based game, and various NFT combinations.
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Benjamin Godfrey is a blockchain enthusiast and journalist who enjoys writing about real-world applications of blockchain technology and innovations to drive public acceptance and global integration of the emerging technology. His desires to educate people about cryptocurrencies have inspired his contributions to popular blockchain-based media and websites. Benjamin Godfrey is a fan of sports and farming.