Binance Adds PEPE and FLOKI as Loanable Assets

Binance Expands Loanable Assets

Binance, the leading cryptocurrency exchange by trading volume, has expanded its list of loanable assets to include several new options. Notably, meme coins PEPE and FLOKI have captured the crypto community's interest following this announcement. Many are speculating whether this inclusion will trigger a price rally for these digital assets.

Current Price Performance

Despite the initial excitement, both PEPE and FLOKI experienced price declines over the past 24 hours. PEPE saw a significant drop of over 10%, trading at $0.000001968. This decrease did not heavily impact its weekly performance, as it still showed a 56.95% increase over the past week. FLOKI, on the other hand, experienced a 2.50% decline, trading at $0.0000357, yet maintained a weekly increase of over 12%.

Market Reactions and Volume

PEPE's recent price drop led to it underperforming against major cryptocurrencies like Bitcoin and Ethereum by approximately 9.90% and 10.29%, respectively. However, its 24-hour trading volume increased by 19.12%, reaching $1,125,786,285. FLOKI also lagged behind BTC and ETH but with a smaller margin of about 1.92% and 2.44%, respectively. Its market capitalization was reported at $346,334,387, ranking it as the 98th largest cryptocurrency.

Conclusion

The addition of PEPE and FLOKI as loanable assets on Binance marks a significant step for these meme coins, potentially boosting their market visibility and investor interest. However, their recent price fluctuations suggest that market dynamics remain volatile. Investors are advised to conduct thorough research and proceed with caution, considering the inherent risks associated with cryptocurrency investments.