2023-6-16 11:53 |
The world’s leading exchange Binance has confirmed plans to delist PEPE on its Flexible Loan network by 21 June 2023. Users will no longer access the meme coin when borrowing loans on the trading platform.
#Binance Flexible Loan has delisted PEPE as a borrowable asset.https://t.co/dHwFs7ilbp
— Binance (@binance) June 16, 2023That comes as Binance showcases efforts to offer its customers reliable and high-quality cryptocurrencies. PEPE’s latest price actions seem to disqualify the themed token from this list -hence the delist.
Binance Loan delists PEPEBinance’s official statement confirmed the delisting of borrowable asset PEPE on the Flexible Loan site on 21 June 2023 at around 08:00 UTC. That means market players will no longer borrow Pepecoin via this service as of next week.
The exchange advises investors to repay outstanding loans before 21 June to avoid possible liquidations. Also, users should beware of a potential 2% liquidation fee.
Binance Loan currently allows users to repay with the token that they borrowed. In that context, investors should have adequate PEPE balances to refund the loans before the deadline.
PEPE price outlookCryptocurrency prices have depicted volatility lately. Meanwhile, PEPE has lost the steam that saw it attracting attention in late April. The meme coin continues to lose its fans amid its gloomy price actions. For instance, a whale triggered insider trading speculations after dumping all its PEPE holdings, according to invezz.com news.
Some dip-pocked traders have even sold their assets at massive losses. Though broad market cues play a part, dumping by whales has added bearish pressure on PEPE’s price. The coin has exhibited notable ups and downs recently, with bears dominating.
The altcoin declined by more than 15% within the last seven days. While PEPE shows weakness in the 1-hr timeframe, it recorded an impressive 10% surge over the past 24 hours.
Nonetheless, PEPE’s upcoming path seems foggy, and losing investor confidence may continue hurting the meme coin’s price actions.
The post Binance Flexible Loan delists PEPE from borrowable assets appeared first on Invezz.
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