- 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.
BREAKING:#Coinbase
INTERNATIONAL EXCHANGE TO LIST $PEPE PERPETUAL FUTURES TRADING— Rohitash Yadav (CCM) (@RYadav8177) April 11, 2024
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.
So let me get this straight…
Less than a year ago you mocked the project and falsely claimed that Pepe the Frog was a hate symbol… but NOW you are adding it to your exchange?@Coinbase never issued a public correction or apology regarding these bold faced lies.
What changed? pic.twitter.com/nR8noX2py0
— PAULY (@Pauly0x) April 11, 2024
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.