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HomeNewsPEPE on the Rise: Coinbase Set to Introduce Perpetual Futures Trading

PEPE on the Rise: Coinbase Set to Introduce Perpetual Futures Trading

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  • Beginning on April 18, Coinbase International Exchange will offer PEPE futures trading on both their International and Advanced platforms.
  • By adding new borrowing assets, collateral options, and trading pairs—including those utilizing PEPE—Binance broadens the scope of its trading possibilities.

A major shift in Coinbase International Exchange’s trading services has been announced with the introduction of perpetual futures trading for the meme token Pepe (PEPE). On the Coinbase International and Coinbase Advanced platforms, traders can start trading PEPE futures on April 18. The market opens at 9:30 a.m. UTC.

Market Response to the Announcement of PEPE Futures

The over 12% increase in PEPE’s value that followed the release demonstrated how positively the cryptocurrency community received the statement right away. CoinMarketCap reports that the coin saw a gain of 4.60% in the previous day, bringing its price to $0.000007298.

In the past, Coinbase was reluctant to accept PEPE because of its contentious connotation with a number of symbols. But the huge market demand and the dominant meme coin trend appear to be the driving forces behind the decision to list PEPE futures.

Coinbase has made a strategic change by matching its products with the dynamics of the market.

Expanding Market Share

With a strong $3 billion market value, PEPE is presently the fourth largest meme currency, indicating its emergence as a major player in the space. After experiencing a sharp weekly increase of 350% and a subsequent monthly growth of 600%, it made a significant jump to third place in the first half of March.

This momentum demonstrates the strong market demand for meme coins as well as PEPE’s ascent to prominence as a top Ethereum (ETH) currency.

The predominant “Extreme Greed” feeling among PEPE’s investors, which is typified by substantial market fluctuations, including sizable withdrawals and investments, emphasizes the overwhelming demand in the product. The video below delves deeper into this development and provides additional insight.

Binance Increases Trading Choices Amid Blockchain Boom

Another significant player in the cryptocurrency exchange industry, Binance, has increased the scope of its cross-margin trading offerings in a related development. Along with numerous new trading pairs, it has added more collateral choices and new borrowing assets.

The addition of Pepe Coin (PEPE) to newly created trading pairs comprising FDUSD, USDT, and USDC sticks out among these improvements and reveals Binance’s plan to profit from the meme coin’s increasing appeal, as previously reported by ETHNews.

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Syofri
Syofri
Syofri is an active forex and crypto trader who has been diligently writing the latest news related to the digital asset sector for the past six years. He enjoys maintaining a balance between investing, playing music, and observing how the world evolves. Business Email: info@ethnews.com Phone: +49 160 92211628
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