Binance, the leading cryptocurrency exchange, has announced the delisting of PEPE from its Flexible Loan network. As of June 21, 2023, users will no longer be able to access the meme coin for borrowing loans on the platform. This decision aligns with Binance’s commitment to providing reliable and high-quality cryptocurrencies, and PEPE’s recent price actions have disqualified it as a viable borrowable asset.
Delisting of PEPE from Binance Loan: Binance has issued an official statement confirming the delisting of PEPE as a borrowable asset on the Flexible Loan platform, effective from June 21, 2023, at approximately 08:00 UTC. This means that users will no longer have the option to borrow Pepecoin through this service starting next week. Binance advises investors to repay any outstanding loans before the delisting date to avoid potential liquidations. Users should also be aware of a possible 2% liquidation fee.
Currently, Binance Loan allows users to repay loans with the same token they borrowed. Therefore, investors should ensure they have sufficient PEPE balances to repay their loans before the deadline. The volatility in cryptocurrency prices has affected PEPE as well. The meme coin has lost the momentum it gained in late April and has been experiencing a decline in popularity due to its recent price actions. Notably, a whale’s decision to dump all its PEPE holdings raised concerns of insider trading. This, along with other factors, has added bearish pressure on PEPE’s price, resulting in some traders selling their assets at significant losses.
PEPE’s price has been fluctuating, with bears dominating the market. Over the past seven days, the altcoin has declined by more than 15%. Although PEPE has shown weakness in the short-term timeframe, it did experience a notable 10% surge in the last 24 hours. However, the future path for PEPE remains uncertain, and the loss of investor confidence may continue to impact its price actions negatively.
Fun and Interesting Fact: In a lighter vein, did you know that Pepe the Frog, the character associated with the PEPE meme coin, became an internet sensation in the early 2000s? Originally created by artist Matt Furie, Pepe gained popularity as a meme and was widely shared across various online platforms. However, over time, the character’s association with certain extremist and hate groups led to its controversial reputation. Despite this, Pepe the Frog remains a significant cultural icon in the realm of internet memes.
Binance’s decision to delist PEPE from its Flexible Loan network highlights the exchange’s commitment to offering reliable and high-quality cryptocurrencies to its customers. As of June 21, 2023, users will no longer have access to Pepecoin for borrowing loans on the platform. Investors are advised to repay any outstanding loans before the delisting date to avoid potential liquidations. PEPE’s price has been experiencing volatility and has lost its previous momentum, which has resulted in a decline in popularity. While the altcoin showed a brief surge, the overall market sentiment remains uncertain, and the loss of investor confidence may continue to impact PEPE’s price actions.
Disclaimer: The above article is written for providing information and should not be treated as investment advice. The past performance of an asset is not an indication of future returns. Please do your own research (DYOR) before investing as digital assets like cryptocurrencies are volatile investment instruments.
