As a seasoned analyst with over two decades of experience in the ever-evolving world of finance and technology, I find myself intrigued by this latest development involving BinanceUS and Pepe (PEPE), the meme coin that has captured the hearts and minds of the crypto community.
BinanceUS plans to add the top Pepe-The-Frog-themed meme coin to its trading platform.
Starting soon, BinanceUS will enable trading for the popular meme coin token PEPE, currently ranked as the third-largest in its category by market cap. While PEPE is already available on Binance’s international exchange, BinanceUS has been hesitant to list certain digital assets due to regulatory complexities and ongoing legal issues.
After Republican Donald Trump won the November 6th presidential elections, there was a decrease in policy restrictions and crypto clampdowns. As a result, platforms like BinanceUS and Coinbase have added numerous meme coins to their offerings for American cryptocurrency investors.
After the potential re-election of President Trump, Coinbase added digital assets such as Giga Chad, Turbo, Dogwifhat, and Floki among others, to their platform.
meme coins tend to experience a rise in value when they are listed on prominent centralized platforms such as Binance or Coinbase. This pattern held true for the coin called PEPE, which saw an increase of 10% following the news that it had been added to BinanceUS.
It wasn’t clear if the token increased because of the news or due to the broader rise in the digital asset market, but at the current moment, the entire crypto market has grown by 2.6% to reach approximately $3.7 trillion. The meme sector followed this trend, reaching a total value of $133 billion. The cumulative value of meme coins is just a few million shy of Tether’s (USDT) market cap, which stands at $134 billion.
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2024-12-04 19:25