Binance News on Binance Feed: PEPE Memecoin Liquidity Pool Becomes Most Active on Uniswap

PEPE, the hype-fuelled memecoin whose price has surged more than 2,100% since its debut last month, has garnered lively interest from decentralized exchange Uniswap and has become one of the most explored coins on data platform Nansen.

According to Nansen data, Uniswap’s V2 and V3 liquidity pools for PEPE-WETH were the most active liquidity pool contracts in terms of number of transactions over the past seven days, with more than 82,750 and 72,950 transactions, respectively.

These two liquidity pools have accumulated nearly $900,000 in accumulated fees over the same period. The only two liquidity pools that incurred more fees were USDC-WETH and WETH-WETH liquidity pools, underscoring the recent obsession with Pepe tokens.

Despite a recent surge in liquidity pool activity, traders were hit by a lack of liquidity over the weekend, leading to significant dissent among those attempting to exchange large amounts of PEPE into other currencies such as ether (ETH).

Also, the trading volume of PEPE, which is listed on several centralized exchanges such as OKX, MEXC, and Huobi, exceeds that of Dogecoin (DOGE) and Shiba Inu (SHIBA), the largest memecoins in the crypto ecosystem.

The frog-based memecoin is among the highest trending cryptocurrencies on price tracker CoinGecko and remains the most explored token across all subscription tiers of blockchain analysis firm Nansen, Lite, Standard and VIP.

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