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Binance, one of the world's largest cryptocurrency exchanges, has announced the addition of two new tokens to its Innovation Zone. Floki Inu (FLOKI) and Pepe Coin (PEPE) will now be available for spot trading on the platform, with users able to trade the new pairs from today. The announcement also revealed that Binance would add FLOKI and PEPE as new borrowable assets within the next 48 hours.
FLOKI started as a meme coin project, but it has since expanded its offerings to include a range of products, including games, NFT collections and even a crypto debit card. Meanwhile, Pepe Coin is a controversial meme coin based on a cartoon character with no utility and created by an anonymous team. In fact, the controversy arose precisely because of the unclear origin of the token.
Yuri MolchanOn the back of this announcement, the prices of FLOKI and PEPE soared by 60% literally in a matter of minutes. Moreover, the market capitalization of the latter exceeded $1.16 billion, which seemed unthinkable just a few weeks ago. As for FLOKI, its capitalization is now $510 million, which puts it 86th on the list of the largest cryptocurrencies.
Judging by the rhetoric of the press release with numerous references to risk and cautions, the decision to list these tokens was not easy for Binance. This is indirectly signaled by the fact that the exchange was one of the last major ones to take this action. Nevertheless, it seems that the incredible hype and its consequent volume and liquidity now in PEPE could not fail to seduce CZ and his team.
Arman Shirinyan
Alex Dovbnya
Dan Burgin
U.Today Editorial Team
Vladislav Sopov