Coinbase International Exchange has officially announced the launch of perpetual futures trading for the popular Pepe meme coin. This move will allow traders to access Pepe (PEPE) futures trading on both the Coinbase International and Coinbase Advanced platforms starting from April 18th.

According to the Coinbase announcement, trading for PEPE perps will begin on or after 9:30 a.m. UTC on April 18th. In response to this news, the value of PEPE experienced an immediate increase of nearly 10%, as reported by CoinMarketCap. Over the previous 24 hours, PEPE saw a 6.5% gain, reaching a price of $0.0000074.

Previously, Coinbase had expressed concerns about listing PEPE due to its association with controversial hate symbols. However, the decision to launch PEPE futures trading signifies a change in approach, likely influenced by market demand and the growing trend of meme coins.

PEPE currently holds the position of the fourth largest meme coin by market capitalization, valued at $3 billion. The enthusiasm for meme coins in the market, combined with PEPE’s status as a prominent Ethereum (ETH) token, has likely played a role in Coinbase’s decision to explore futures trading for PEPE.

In March, PEPE saw a significant surge in value, with a 350% increase in just one week, making it the third-largest meme coin by market capitalization with a 600% monthly growth. The current momentum of the meme coin, characterized by substantial withdrawals and investments, reflects a prevailing sentiment of “Extreme Greed” among its investors.

For more insights on the cryptocurrency market, stay updated with Global Crypto News.

Post Views: 3