The world’s largest cryptocurrency exchange by volume has recently launched two new meme currencies to its casino. Binance announced today that it will offer both Pepecoin (PEPE) and Floki Inu (FLOKI) in its so-called innovation zone.
To join, traders must first properly answer two questions about how much money they may lose trading in this zone (more or less than 50%?). and who is to blame if they do suffer a “total loss” of cash.
FLOKI has subsequently increased by 57%, while PEPE has increased by 77%, taking the frog-inspired token’s market valuation beyond $1 billion. Nonetheless, both coins are worth significantly less than a cent at the time of publication.
The exchange has also issued another caution to potential dealers. “Please keep in mind that, as of the time of writing, PEPE has no token utility or value support mechanism,” the Binance listing statement states. “There are also indications that certain insiders or team members were able to purchase 7% of the total token supply minutes after the TGE [Token Generation Event].”
Trading for these two tokens begins today at 12 p.m. ET. Both meme currencies can also be traded on margin against Tether’s dollar-pegged stablecoin.
Read also : Pi Network latest updates and news
What is PEPE?
PEPE is the newest meme currency to skyrocket in value and attract the attention of the crypto world. It is based on Matt Furie’s Pepe the Frog.
According to Coingecko, the token has increased by 1,000% in the last week. It has surpassed Fantom’s native FTM token and The Sandbox’s SAND token to become the 45th-largest cryptocurrency by market valuation.
Aside from its stratospheric price surge, the frenzy of speculation has driven Ethereum gas costs skyrocketing to one-year highs.
