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.

Crypto.com launches $PEPE perpetual contract

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.