The world’s largest crypto exchange Binance on Monday said it is introducing SUI, FLOKI, and PEPE to Binance Convert. It will enable users to trade immediately these newly added tokens against BTC, USDT, and other cryptocurrencies that are supported by Binance Convert.
Binance Convert tool allows users to buy or sell cryptocurrencies instantly without placing orders on the trading interface. Users actually prefer Binance Convert over Spot trading due to features such as zero fees, low cost and secured rates during large orders, minimum order size, and provides sufficient liquidity.
Binance Convert Adds SUI, FLOKI, and PEPE
According to an official announcement on May 8, Binance revealed adding SUI, FLOKI, and PEPE to Binance Convert. Users can now trade Sui Network’s native token SUI and meme coins FLOKI and PEPE against BTC, USDT, and any other tokens using Binance Convert. It allows users to convert their crypto to another crypto or fiat, or vice-versa at zero fees.
Binance recently listed SUI, FLOKI, and PEPE for trading on the crypto exchange after the community’s request. PEPE and FLOKI witnessed massive buying from whales and investors, causing the prices to skyrocket sharply. However, the PEPE and FLOKI hype subdues due to profit booking, with some whales holdings trillions of tokens.
Users can visit the Binance website and select Binance Convert under the Trade option. Users on mobile, can open Binance App, tap Trade and then select Convert from the top menu instantly convert crypto or fiat assets anytime with a live price based on current market conditions with zero fees.
Recently, Binance suspended market order functions for cryptocurrencies including Shiba Inu (SHIB), FLOKI, and PEPE. The reasons behind the restrictions are likely due to volatility and risks in trading meme coins.
PEPE price currently trades at $0.00000231, down 11% after a massive rally in the last few days. Meanwhile, FLOKI is down 4% in the last 24hrs, with the price currently trading at $0.0000374.
Also Read: Binance Suspends Market Order Functions For SHIB, FLOKI, PEPE
Binance FUD Related to Large Bitcoin Outflow Amid Issues in Withdrawals
The total exchange outflows from the crypto exchanges are 200k. Binance has an exchange outflow of 190k worth nearly $5.5 billion, as per CryptoQuant data.
However, the actual exchange outflow from Binance is far lower as the exchange takes several steps including wallet transfers and enabling Bitcoin Lightning network to resume BTC withdrawals. These outflows are actually movements between Binance hot and cold wallets due to the BTC address adjustments.
Also Read: Reason Behind Large Bitcoin Outflow From Binance
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