Pepe (PEPE) Spot Trading Volume Surges Over $2.7 Billion

  • OKX Records Highest Trading Volume of $650 Million
  • Binance holds the largest amount of PEPE tokens, with 5.87% of the total supply.

The trading activity for Pepe (PEPE), a meme-based currency featuring a cartoon frog, has experienced a significant surge in recent times. According to Wu Blockchain, who sourced the information from CoinMarketCap, the spot trading volume for PEPE has exceeded an impressive $2.7 billion. This places PEPE as the fifth-highest trading volume cryptocurrency, trailing behind USDT, BTC, ETH, and USDC.

OKX, one of the early adopters to list PEPE, witnessed the highest trading volume of $650 million. Wu Blockchain reports that Binance is projected to host the majority of upcoming trading activity. In the past 24 hours, Binance has already facilitated trades worth $1.4 billion, ranking it third in trading volume, just behind Bitcoin and Ethereum.

Binance Takes the Lead in Trading Activity

According to Borovik.eth, a Twitter user, Binance holds the largest PEPE exchange wallet, which accounts for 5.87% of the total supply, equivalent to $78 million. Recently, Pepe (PEPE) was listed in the innovation zone of Binance, the largest cryptocurrency exchange in terms of trading volume. The available spot trading pairs for PEPE on Binance are PEPE/USDT and PEPE/TUSD.

Binance made a simultaneous announcement regarding the addition of two meme-based currencies: PEPE and Floki, inspired by Elon Musk’s dog. Furthermore, Binance has committed to introducing PEPE as a borrowable asset within the next 48 hours. However, there was a temporary pause in PEPE deposits due to technical issues, but those problems have been resolved, and deposits have resumed. Withdrawals for both FLOKI and PEPE have initiated as of May 6th.

PEPE, which was introduced in April, has experienced an extraordinary surge in market value, reaching a milestone of $1 billion on Friday. According to CMC (CoinMarketCap), the current price of Pepe is $0.000003 USD, with a significant 24-hour trading volume of $1,235,819,179 USD. However, Pepe has seen a decrease of 9.67% in the past 24 hours.

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