Reaching The 1 Billion Market Cap: Binance Adds PEPE as Meme Coin
After days loaded with excitement, PEPE, the meme coin, is now part of the well-renowned trading platform, Binance, stirring up additional interest in the token. Binance - the world's biggest trading market -has registered the meme coin, thus driving the already famous PEPE to even more fame. Being part of the exchange is another bonus that could contribute to a much wider scope of opinion about the cryptocurrency.
The realm of digital currency is expanding - with the leading exchange by trade volume just introducing two new tokens to the market, trading aficionados have been granted easy access to these burgeoning assets. Provocating diversity and originality, the infusion of these new options into the cryptocurrency field breathes new life into the sphere, resulting in a much greater selection of digital currency options.
Binance have rolled out their innovation zone which is accessible only to those who can provide accurate answers to two questions; what amount of at-risk financial loss is involved (more or less than 50%) and who should take responsibility for any "comprehensive loss" of funds. It's been set up in such a way to decrease the odds of possible risk and to make predictions more accurate. As part of this, the exchange has announced the listing of two new assets; Pepecoin (PEPE) and Floki Inu (FLOKI).
These tokens have seen immense success; FLOKI soared 57%, PEPE jumped 77%. The market value of the frog-themed crypto has broken through into the realm of the billion-dollar realm, despite both coins remainin' valued at just a fraction of a cent. While the rise sure is remarkable, it can't compare to the truly staggering amount of money involved--one billion dollars is a monumental sum.
The crypto-verse was aflutter upon Binance's announcement of a warning in relation to PEPE tokens. The crypto-monolith revealed that, presently, the digital tokens do not possess any use or value. This news was coupled with evidence that seemed to suggest that some individuals that were connected to the PEPE operation accquired 7% of the total amount of tokens that were available at the time of their intial distribution. The implication that the tokens were scooped up shortly after they hit the market being a cause of concern.
At 12pm ET, the trading of PEPE and the other meme coin is all set to begin. Those desiring to invest in either token will be able to employ leverage relative to the USD-stablecoin issued by Tether. Now, what is this meme coin PEPE? Well, the artwork of Matt Furie's Pepe the Frog has been stirring up a significant commotion within the crypto universe ever since its initiation. Therefore, PEPE has become a name to be reckoned with.
The token has been soaring to incredible heights – a one thousand percent increase in the last seven days, as Coingecko reported. Such a surge propelled the asset to the 45th ranking in terms of market capitalization, which is higher than even the FTM token of Fantom and The Sandbox's SAND token. Additionally, the hype has caused Ethereum gas fees to climb up to unknown highs in more than a year. This is certainly incredible news, and it's likely to continue to reverberate in the wider crypto world for some time.
