Binance, which started PEPE and FLOKI transactions last night, had problems with deposits in the first place. Transactions opened after about two hours will be restricted in a second announcement today.
Binance, SHIB, FLOKI and PEPE to suspend spot and margin ‘functions’
The leading exchange said on May 7 that it will suspend market order functions for selected spot and margin trading pairs until further notice. Featured coins include SHIB, FLOKI, and PEPE.
According to the official announcement, Binance will “suspend the ‘Market Order – Total’ feature for selected Spot and Margin trading pairs until the next announcement date, May 7, 13:00. After the update, users will not be able to access the “Total” and “Quantity Customization Slider” features when placing market orders. Users can still choose to manually enter “Market Order – Amount” to place a market order.”
#Binance will adjust the Market Order Total function for selected spot and margin trading pairs at May 7, 9:00 am UTC.
After the update, users will not be able to access some features when placing market orders.
Full details below ⬇️https://t.co/7g7LcjPpSh
— Binance (@binance) May 6, 2023
Binance has announced that it will suspend the Market Order – Sum feature of the spot and margin functions of selected trading pairs. Other trading pairs on the list, including SHIB, FLOKI, and PEPE:
SHIBUSDT, SHIBBUSD, SHIBEUR, SHIBBRL, SHIBTRY, XECBUSD, XECUSDT, SHIBAUD, SHIBDOGE, BTTCUSDT, BTTCTRY, BTTCBUSD, PEPEUSDT, PEPETUSD, FLOKIUSDT, FLOKITUSD, USDTIDRT, BTCBIDR, BBIDRBIDR, BTIDRBIDRTBIDBIDRTB, BTIDRBIDRTB, BTIDRBIDRTB, USDTIDRT, BTCBIDR, BBIDRBIDRTB, BBIDRBIDRTB DR, DOGEBIDR, MATICBIDR, ADABIDR, XRPBIDR, SOLBIDR.
What does it mean for users?
Features will not be available on Binance Web, App, Electronics and API until further notice. Users will see an error message throughout the process. Currently, the Market Order – Total functions are disabled for taking positions on selected trading pairs.
No word yet on the reason behind the suspension decision. Forecasts reveal that the stock market is making moves, most likely because of volatility and risks.
FLOKI and PEPE rally over 40% with Binance listing
As Kriptokoin.com, we have stated that the Binance FLOKI and PEPE list dated May 5 is priced instantly. The intense interest prompted Binance CEO CZ, “Meme coins (and all cryptocurrencies) are high risk!” forced to make a statement.
Shortly after the listing, FLOKI and PEPE top Binance’s largest trading volume. FLOKI price is currently trading at $0.00004294 after reaching $0.0000548 after Binance listing. In the last 24 hours, the trading volume has increased by over 250%.
Meanwhile, the PEPE price is up 60% in the last 24 hours. It is currently trading in the $0.000002994 region. A sharp drop in price occurred after several whale sales. Finally, the Shiba is underpowered in terms of price. The second largest meme coin failed to accompany the rallies of FLOKI and PEPE. At the time of writing, it is trading in the $0.000009696 region, where it has lost 2% and 5% on a daily and weekly basis.
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