BingX Insights

Get the latest blockchain news with us.

Important Binance Update the Reason for PEPE’s 20% Increase Today

Crypto Bits - Dimitar Dzhondzhorov 2023-12-04 21:53


  • The global cryptocurrency market cap surpassed $1.6 trillion, with Pepe Coin (PEPE) gaining 20% in a day and 30% weekly, buoyed by a bullish market and its involvement with Binance.
  • Binance’s new promotion lets users use PEPE as collateral for loans, starting December 5 through New Year’s Eve.
  • The first 800 borrowers using PEPE as collateral will receive a 10 Million PEPE reward, with Binance reserving rights to disqualify any non-compliant or fraudulent participants.

The global cryptocurrency market capitalization has recently surpassed $1.6 trillion, with numerous digital assets charting substantial gains.

One such token is the popular memecoin that emerged earlier this year – Pepe Coin (PEPE). It has spiked by approximately 20% in the past 24 hours and almost 30% on a weekly basis.

<a href=PEPE Price" width="503" height="400"> PEPE Price, Source: CoinGecko

Two main factors attributing to the impressive price performance could be the overall bullish sentiment in the digital asset sector and the interaction with Binance.

The world’s largest crypto exchange by trading volume introduced a new promotion for Binance Loans where customers can use PEPE as collateral. The offering starts on December 5 and ends on New Year’s Eve.

“During the Promotion Period, borrow at least 30 USDT equivalent of any token(s) on Binance Loans (Flexible Rates) whilst using PEPE as collateral to be eligible. The first 800 users who complete eligible flexible loan order(s) for any token(s) will each receive a 10 Million PEPE Locked Products position,” the team behind the marketplace announced.

Binance explained that it has the right to disqualify participants of the offering that appear to act “fraudulently or not in accordance with any applicable terms and conditions.”

The post Important Binance Update the Reason for PEPE’s 20% Increase Today appeared first on CryptoPotato.