Binance extends support for PEPE and SUI with new isolated margin pairs

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The world’s largest cryptocurrency exchange by trading volumes, Binance, is expanding its support for SUI, the native token for the Sui Network, and the PEPE meme coin. Binance has also unveiled new isolated margin pairs for the PEPE and SUI tokens. It has also integrated UMA as the new borrowable asset for Cross Margin.

Binance integrates PEPE and SUI

The prices of the PEPE and SUI tokens made significant gains after they were listed on the Binance exchange. Other top crypto exchanges followed suit, and they also listed the two tokens, which increased the likelihood, and triggered further gains. Binance has listed several meme coins on the platform.

Binance released an official announcement on this development on May 15. The exchange integrated the UMA/USDT cross-margin trading pair on the exchange. It also added new Isolated Margin pairs for PEPE and SUI tokens. These margin pairs are PEPE/TUSD and SUI/TUSD.

Binance added PEPE to its innovation zone earlier this month, with the addition coming shortly after the meme coin witnessed a remarkable price gain. Binance also added FLOKI to the innovation zone earlier this month.

On May 9, the Binance exchange said that it would have PEPE and FLOKI as borrowable assets on Cross Margin. The addition allowed users to trade both PEPE and FLOKI through cross-margin trading. The exchange also added the two meme coins as loanable assets under the Binance Flexible Loan product.

The exchange giant has also announced the addition of SUI, FLOKI, and PEPE to Binance Convert. The addition is aimed at allowing users to trade against some of the largest cryptocurrencies, such as Bitcoin and the USDT stablecoin. Traders can also use any other supported cryptocurrencies, with Binance charging zero fees for these transactions.

Meme coins rally

Binance is showing significant interest in meme coins amid a meme coin frenzy that has been reported in recent weeks. The PEPE meme coin rallied to among the top 100 largest cryptocurrencies in the market by market cap a few weeks after launch. The rally saw some investors that entered at the right time making significant gains.

Elon Musk has also been instrumental in triggering gains for the meme coin community, as seen in the latest performance of the Milady meme coin. The coin has pumped by more than 10,000% over the past week as more traders rush in to make significant returns

However, as expected, the rally has now cooled off, and the prices are now correcting. PEPE has dropped by 61% since creating an all-time high earlier this month. At the time of writing, the token was trading at $0.00000169, according to CoinGecko, after a 3.5% drop in the last 24 hours. Some analysts have already predicted that more dips could be on the way.

Request 01 – $PEPE

This one is making a bear market relief rally, I would say.

Needs to hold above 173000, then we could see continuation towards 240000.

If 173000 is lost, then I'm looking at playing a short and trying to catch a long at 85000. pic.twitter.com/1Lq0AQ8mTC

— Michaël van de Poppe (@CryptoMichNL) May 14, 2023

In the last 24 hours, SUI has plunged by 2.1%, and it was trading at $1.20 at the time of writing. However, the token has been up by 7.9% over the last 24 hours. The price trend shown by the two tokens shows traders are yet to react to the latest additions by Binance.

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