Pepe Coin and BRETT Price Skyrockets As Major Exchange Announces Listing

by

As a seasoned crypto investor with years of market fluctuations under my belt, I find myself intrigued by Upbit’s recent decision to list BRETT and Pepe Coin. With personal memories of Dogecoin’s meteoric rise and subsequent crash still fresh in my mind, I can’t help but feel a sense of déjà vu.

Upbit’s cryptocurrency exchange has officially announced it will include BRETT and Pepe Coin in its trading services as of August 20th. Trading for both BRETT and PEPE will start at 19:30 on that date, but deposits and withdrawals can be made starting two hours before the announcement time.

Upbit Announces Support for BRETT and Pepe Coin

As stated in an announcement on Upbit’s website, the introduction of these meme coins represents a move towards expanding the variety of investment options for traders on the platform. The digital assets BRETT, running on the Base Chain, and Pepe Coin, functioning on Ethereum, are poised to take advantage of their distinctive market allure to attract investor attention.

On this trading platform, they’ve mentioned that they won’t charge withdrawal fees for these specific assets during the initial 24 hours after deposit and withdrawal services begin. This is done to boost user participation.

To help maintain market stability after launch, the cryptocurrency platform initially set trading limitations in place. For a period of five minutes following the launch, buyers would be unable to make purchases, and sellers were required to ensure their prices didn’t dip below 10% of the previous day’s closing price.

Furthermore, trading restrictions on market and reservation orders will be implemented approximately an hour following the start of trade. This step is taken to prevent market manipulation and maintain a fair trading atmosphere for all users.

Upbit Guidelines and Regulations

Upbit encourages users to follow the recommended networks when making transactions: BRETT transactions should be conducted on the Base network, while Pepe Coin transactions should utilize the Ethereum network, ensuring seamless deposit and withdrawal processes.

Furthermore, it’s important to note that only deposits originating from exchanges recognized as eligible operators by Upbit are permitted, according to the Travel Rule. Failing to adhere to these regulations may result in delays in the recording of deposits and potential complications with withdrawals.

The transaction process at Upbit necessitates providing evidence of the source of substantial deposits, as outlined in their terms. This step is a part of our dedication to combating crypto-related crimes and maintaining the safety of our trading environment. Additionally, any personal wallet addresses used for transactions must have undergone ownership verification to strengthen our security protocols.

Market Response to New Listings

As a researcher studying cryptocurrency markets, I found it noteworthy that the listing of BRETT and PEPE on Upbit was met with a predominantly favorable response. At the time of press, PEPE’s price had spiked by an impressive 12%, reaching $0.000008088. Meanwhile, shortly after the announcement of trading support, BRETT saw its value soar by a staggering 30% to $0.1031. This significant price movement suggests that traders are increasingly intrigued and optimistic about the prospects of these meme tokens, indicating growing interest in this unique sector of the cryptocurrency market.

According to data from Upbit, the closing price for BRETT on the previous day was $0.07887 USD. However, right before the announcement, its value jumped to $0.08394 USD. This data suggests that the listing announcement had a significant and immediate influence on the prices of these digital assets.

Read More

2024-08-20 13:06