Hello, I'm Young, a 40-something novice crypto investor. This morning, while sipping my coffee and browsing the news, I was shocked. Apparently, something called PEPE coin is being delisted from Binance. At first, I had no idea what this meant, but after some research, I think I understand enough to share with you all.
What on earth happened?
Binance, a major exchange, announced they would stop trading a cryptocurrency called PEPE coin. Specifically, they're removing the 'PEPE/TUSD trading pair'. I didn't know what this meant at first either.
It turns out 'PEPE/TUSD' was a way to exchange PEPE coins for another coin called TUSD. Now, this method of trading won't be available anymore.
Why did this happen?
Apparently, Binance regularly reviews the coins they list. They delist coins that aren't traded much or have issues. Not just PEPE coin, but other coins like Decred (DCR) and Horizon (ZEN) are also being delisted.
How does this affect us?
Price fluctuations: This news caused PEPE coin's price to drop a bit. But it's apparently up 90% this month, so it might still be okay.
Trading might become difficult: It could become harder to trade PEPE coin on Binance. We might need to look for other exchanges.
Shows the risks of meme coins: This seems to demonstrate how 'meme coins' like PEPE can rise and fall in popularity quickly.
What can a beginner investor like me do?
Don't panic: The crypto market is always changing. This kind of thing can happen again.
Keep learning: I learned a lot from this incident. We should keep researching and studying when we encounter something we don't understand.
Manage your money well: It's better not to put all your eggs in one basket. Diversifying investments seems to be a good idea.
Listen to expert advice: For beginners like us, it's probably good to hear what the experts have to say.
Wrapping up
At first, I was confused about what was happening, but after organizing my thoughts like this, I understand a bit better. Crypto investing seems really difficult. But if we don't give up and keep learning, maybe we can become experts someday too? Let's all hang in there! I'll be back with more news next time.