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Pepe (PEPE) Exceeds $2.7 Billion in Spot Trading Volumes: Details

Sat, 05/06/2023 - 15:03
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Tomiwabold Olajide
Pepe (PEPE) closes behind BTC, ETH as trading volumes exceed $2.7 billion
Pepe (PEPE) Exceeds $2.7 Billion in Spot Trading Volumes: Details
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The frog-themed meme coin Pepe (PEPE) has seen a massive surge in its trading volume. According to Wu Blockchain, who cited data from CoinMarketCap, the spot trading volume of PEPE in the last 24 hours hit $2.7 billion, putting it in second place after USDT, BTC, ETH and USDC.

OKX, which was among the first major exchanges to list PEPE, attracted the largest trading volume of $650 million. The future trading volume is mainly concentrated on Binance, and the trading volume in the past 24 hours is $1.4 billion, second only to BTC and ETH, Wu Blockchain notes.

According to Twitter user Borovik.eth, Binance is leading as the biggest PEPE exchange wallet with 5.87% of supply, or $78 million.

It should be recalled that yesterday, the world's leading crypto exchange by trading volume, Binance, announced the listing of Pepe (PEPE) in the innovation zone with the spot trading pairs of PEPE/USDT and PEPE/TUSD.

The listing of PEPE was announced alongside Floki, the dog-themed meme coin that draws inspiration from Elon Musk's dog.

Pepe (PEPE) Scores New Listing on KuCoin, Start of Meme Coin Season?

In addition, Binance says it will add PEPE as a new borrowable asset within 48 hours after the initial listing.

Due to technical challenges, the deposits for PEPE on Binance were temporarily suspended but have now been resumed as the issues have been resolved. Withdrawals for FLOKI and PEPE are expected to open today, May 6.

Launched in April, PEPE has seen an astonishing rise, with its market capitalization surpassing $1 billion on Friday. According to CoinMarketCap, PEPE was up 7.17% in the last 24 hours to $0.00000307. Its 24-hour trading volume is up 160%, with $2,768,360,686 worth of trade.

PEPE ranks as the 42nd largest cryptocurrency with a current market cap of $1.2 billion.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.