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Tuesday, February 27, 2024

Pepe (PEPE) Spot Trading Volume Surpasses Whopping $2.7 Billion

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Pepe (PEPE) Spot Trading Volume Surpasses Whopping $2.7 Billion

  • The highest trading volume, $650 million, was seen on OKX.
  • 5.87% of the supply is held by Binance, making it the largest PEPE exchange wallet.

The trading volume of Pepe (PEPE), a meme currency based on a cartoon frog, has skyrocketed recently. The spot trade volume of PEPE surpassed $2.7 billion recently, second only to USDT, BTC, ETH, and USDC, according to Wu Blockchain, who quoted statistics from CoinMarketCap.

The highest trading volume, $650 million, was seen on OKX, one of the first major exchanges to list PEPE. According to Wu Blockchain, the majority of expected future trading activity will be conducted on Binance, where $1.4 billion has been traded recently over a time frame of 24 hours, third only to Bitcoin and Ethereum.

Binance Leads the Way

Twitter user Borovik.eth claims that 5.87% of the supply, or $78 million, is held by Binance, making it the largest PEPE exchange wallet. Pepe (PEPE) was listed recently in the innovation zone of the largest cryptocurrency exchange by trading volume, Binance, with the spot trading pairings PEPE/USDT and PEPE/TUSD.

PEPE’s addition to the exchange was announced at the same time as Floki, a meme currency based on Elon Musk’s dog. Binance also promises to launch PEPE as a borrowable asset within the next 48 hours. Binance momentarily halted PEPE deposits due to technical problems, however, those deposits have already resumed. FLOKI and PEPE withdrawals have begun from May 6.

Since its launch in April, PEPE’s market value has skyrocketed, recently reaching $1 billion on Friday. According to CMC, the Pepe price today is $0.000003 USD with a 24-hour trading volume of $1,235,819,179 USD. Pepe is down 9.67% in the last 24 hours.

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