Coinbase to launch perpetual futures for PEPE

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Coinbase International Exchange unveiled the availability of perpetual futures contracts for trading the Pepe meme coin.

Starting April 18, PEPE futures trading on Coinbase International and Coinbase Pro platforms is now accessible.

Starting from 9:30 a.m. UTC on April 18, PEPE perpetual contracts will be available for trading on both Coinbase International and Coinbase Advanced, which is the professional version of the exchange offered by Coinbase International.
Coinbase announcement

In the midst of recent market updates, PEPE experienced a significant surge in value, amounting to approximately 10% increase based on CoinMarketCap data. Over the past day, PEPE‘s price climbed by around 6.5%, settling at $0.0000074.

Before now, Coinbase expressed hesitance over adding PEPE due to its connection to offensive symbols. But the announcement to offer PEPE futures suggests a change in stance, possibly driven by strong market interest and the popularity of meme coins.

PEPE is the fourth largest meme coin with a market value of $3 billion. The buzz surrounding meme coins, including PEPE‘s popularity as a significant Ethereum (ETH) token, may have prompted Coinbase to consider offering PEPE futures trading.

PEPE’s value experienced a remarkable jump of 350% within a week at the start of March, placing it as the third largest meme coin in terms of market capitalization. This impressive growth represents a staggering 600% increase over the past month. The recent trend of substantial purchases and sales signifies a strong sense of “Extreme Greed” among PEPE investors, indicating their high level of enthusiasm for this asset.

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2024-04-11 23:21