Pepe Perpetual Futures to Go Live on Coinbase

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Coinbase International, the global branch of the leading cryptocurrency exchange, has made an announcement: starting April 18, PEPE perpetual futures will be available for trading on their platform.

According to information from CoinMarketCap, PEPE‘s price has risen by over 4% and is now being sold for $0.000007392. Earlier in the day, this widely-used meme coin reached a peak price of $0.000007431.

In simpler terms, perpetual futures enable traders to wager on the anticipated price changes of a meme coin without being constrained by expiration dates. These types of contracts can be kept indefinitely. With perpetual futures, traders can take positions on an asset’s future price direction without having to physically possess it.

Pepe, introduced in April 2023, continues to rank as the fourth largest meme coin based on market value with a valuation of approximately $3.1 billion, according to CoinGecko’s latest data.

The creation of the cryptocurrency was influenced by the widely recognized Pepe the Frog comic figure. Originally a harmless symbol, this frog character later became adopted by extreme right groups. Its creator, Matt Furie, took legal steps to prevent these extremists from misusing his intellectual property.

In March 2023, Coinbase faced backlash from Pepe supporters after classifying Pepe as a “hate symbol” in an email newsletter. Displeased holders of the meme coin initiated a #DeleteCoinbase movement on Twitter to voice their discontent towards the cryptocurrency platform.

Despite this small dispute, the Pepe community is now focusing on their latest listing and celebrating it vigorously.

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2024-04-11 21:15