Binance and Crypto.com, the top two cryptocurrency exchanges in the world by trading volume introduced Perpetual contracts for pepecoin (PEPE).
FLOKI and PEPE tokens may now be deposited by traders on Binance in advance of trading. On May 6, 2023, withdrawals for these tokens will start. The listing cost for FLOKI and PEPE has been eliminated by Binance, highlighting the company’s dedication to fostering the development of these meme currencies.
The meme currency PEPE is named after the animated character “Pepe the Frog.” It is crucial to remember that PEPE has no mechanisms that sustain its usefulness or value. It was also developed by an unnamed group.
On the other hand, FLOKI, which started out as a meme currency project, has grown its ecosystem to include a crypto debit card, NFT-based games, and NFT collections.
The utility token for this ecosystem is FLOKI. A trading area specifically designated for fresh and inventive projects is the Innovation Zone, where FLOKI and PEPE will be exchanged. However, compared to other assets, the tokens featured here often display more volatility and carry larger risks.
The PEPE perpetual contract has also been introduced by Binance on their derivatives market. A perpetual contract is a derivative instrument without a maturity or expiration date that is funded on a regular basis by its counterparties to maintain it in line with the underlying price.
To promote trading, Binance provides no maker fees on the FLOKI and PEPE spot trading pairs. The new borrowable assets FLOKI and PEPE will be made available by Binance under the Isolated Margin area on May 5.
PEPE is offered by other cryptocurrency exchanges than Binance. Additionally, Crypto.com said that its derivative market now supports the PEPE perpetual contract.
The PEPE perpetual contract is accessible to traders, who may trade and potentially profit from the token’s volatility.
