Binance Has Added Both PEPE and FLOKI as New Loanable Assets

  • The crypto community now has to wait and see if this will lead to a rally in the meme coins’ prices.
  • Meanwhile, both PEPE and FLOKI experienced price losses over the past 24 hours of trading, according to CoinMarketCap.

The largest crypto exchange in terms of trade volume Binance announced earlier today that it has added a number of new cryptos as loanable assets. The projects included on the list were Alchemix (ALCX), IDEX, Immutable (IMX), Liquidity (LQTY), Perpetual Protocol (PERP), Request (REQ), Rocket Protocol (RPL), and Wing Finance (WING).

What specifically caught the attention of crypto fans was the fact that meme coins Pepe (PEPE), and Floki (FLOKI) were also included on the list of new loanable assets. As a result, the crypto community anticipates a rally in both meme coins’ prices in the near future.

At press time, CoinMarketCap indicated that this has not been the case for PEPE yet. The meme coin was trading hands at $0.000001968 after a price decrease of more than 10% over the past 24 hours alone. This had, however, not left much of a dent in PEPE’s weekly performance as the crypto was up 56.95% over the past seven days.

The coin’s 24-hour price drop had led it to weaken against both market leaders Bitcoin (BTC) and Ethereum (ETH) by about 9.90% and 10.29% respectively. Meanwhile, PEPE’s 24-hour trading volume saw a 19.12% increase, and stood at $1,125,786,285.

Things did not go much better for FLOKI over the past day, as the crypto suffered a 2.50% price drop during the same period to trade at $0.0000357. FLOKI’s weekly performance was, however, still up by more than 12% at press time.

The meme coin’s price drop resulted in it being outperformed by both BTC and ETH by approximately 1.92% and 2.44% respectively. In addition to this, FLOKI’s market cap stood at $346,334,387, which ranked it the 98th biggest crypto in terms of market capitalization.

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

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