The trading volume of the frog-themed meme currency Pepe (PEPE) has greatly increased. The spot trading volume of PEPE in the previous 24 hours reached $2.7 billion, placing it in second position after USDT, BTC, ETH, and USDC, according to Wu Blockchain, who quoted statistics from CoinMarketCap.
The greatest trading volume was drawn by OKX, which included PEPE among the first significant exchanges, with $650 million. According to Wu Blockchain, Binance has seen the majority of the future trade activity, with a $1.4 billion trading volume over the last day, second only to that of bitcoin and ethereum.
With 5.87% of the supply, or $78 million, according to Twitter user Borovik.eth, Binance is the largest PEPE exchange wallet.
It should be remembered that yesterday, Pepe (PEPE) and its spot trading pairs of PEPE/USDT and PEPE/TUSD were listed on Binance, the world’s largest cryptocurrency exchange by trading volume.
The listing of PEPE was announced together with the launch of Floki, a meme currency with a dog motif that was inspired by Elon Musk’s dog.
Additionally, Binance claims that within 48 hours of the initial listing, it would introduce PEPE as a new borrowable asset.
The deposits for PEPE on Binance were momentarily halted due to technical difficulties, however they are again back in operation as the problems have been fixed. Today, May 6, withdrawals for FLOKI and PEPE are anticipated to start.
Since its April launch, PEPE has had an astounding growth; on Friday, its market value surpassed $1 billion. According to CoinMarketCap, the price of PEPE increased by 7.17% over the previous day to $0.00000307. $2,768,360,686 worth of trades were made throughout its 24-hour trading period, a 160% increase.
PEPE has a market worth of $1.2 billion right now, ranking it as the 42nd biggest cryptocurrency.
