Binance, Crypto.com launch PEPE perpetual futures
Binance, the world’s leading cryptocurrency exchange by trading volumes, and Crypto.com has launched pepecoin (PEPE) perpetual contracts. At the same time, Binance added PEPE and Floki Inu (FLOKI) to its Innovation Zone.
Binance adds FLOKI, PEPE to Innovation Zone, lists perpetual futures
Traders on Binance can now deposit FLOKI and PEPE tokens in preparation for trading. Withdrawals for these tokens will open on May 6, 2023.
Notably, Binance has waived the listing fee for FLOKI and PEPE, demonstrating its commitment to supporting the growth of these meme coins.
PEPE is a meme coin inspired by the cartoon character “Pepe the Frog.”
However, it is essential to note that PEPE has zero utility or value support mechanisms. Moreover, it was created by an anonymous team.
On the other hand, FLOKI, initially launched as a meme coin project, has expanded its ecosystem to include non-fungible token (NFT)-based games, NFT collections, and a crypto debit card. FLOKI serves as the utility token for this ecosystem.
The Innovation Zone, where FLOKI and PEPE will be traded, is a dedicated trading area for new and innovative projects. Even so, tokens listed here typically exhibit higher volatility and can pose greater risks than other assets.
Binance has also launched the PEPE perpetual contract in its derivatives exchange.
A perpetual contract is a derivative product without an expiry or maturity date, featuring regular funding payments between counterparties keeping the contract aligned with the underlying price.
Binance offers zero maker fees on the FLOKI and PEPE spot trading pairs to encourage trading activity. On May 5, Binance will introduce FLOKI and PEPE as new borrowable assets in the Isolated Margin section.
Binance isn’t the only crypto exchange offering PEPE.
Crypto.com also said PEPE perpetual contract is now live on their derivative exchange.
Traders can access the PEPE perpetual contract, trading and possibly benefiting from the token’s volatility.