Pepe Meme Coin Futures Launch on Coinbase, Price Climbs 5%
Highlights
- Coinbase International has introduced Pepe (PEPE) perpetual futures, set to launch on April 18.
- The launch of these futures has led to a more than 4% increase in PEPE's trading value.
- Perpetual futures allow traders to speculate on price movements without an expiration date.
Coinbase International, the global branch of a well-established cryptocurrency exchange, has added Pepe (PEPE) perpetual futures. Scheduled to be put into service on April 18th, this upgrade is an important step in the platform’s development. These funds make it possible for traders to deal with constant price movements without an expiration date. This financial instrument allows trading through speculation based on expectations of price change without bothering about owning the asset.
The announcement has positively impacted the trading value of Pepe, a popular meme coin. Following the news, the price of PEPE increased by over 4%. According to a recent Coingape price list, it is trading at $0.0000074291035. Earlier in the day, it reached a peak of $0.000007431.
Pepe Coin Reaches $3.1 Billion Market Cap
Pepe coin, which was launched in April 2023, sits at the fourth position among all meme coins by market cap. As of the time of writing, it has a market value of $3.1 billion, as reported by CoinGecko. The coin employs the name Pepe the Frog, which is a character in a webcomic widely adopted and known. As a result, its author, Matt Furie, finds himself in the middle of controversies and all the unpleasantness that comes with it. The Forie has taken legal steps to ensure a better picture and avoid the mishandling of the character.
There have been prior clashes, such as Coinbase marking Pepe as a “hate symbol.” However, unlike before, the community is not worried about that. Now, they are busy with the latest listing, which is the next step of the ancient disagreement among the states. By listing on the exchange, the currency gains additional legitimacy and increases in trading volume.
Coinbase Enhances User Experience
In a related development, Coinbase has announced further enhancements for its users. Specifically, UK-based customers can now purchase Bitcoin, Ethereum, and other cryptocurrencies using Apple Pay. This integration offers a secure and private transaction experience, reflecting Coinbase’s commitment to user security and privacy.
Coinbase states that Apple Pay does not store card numbers on devices or servers. Instead, it uses a unique device account number. This number is encrypted and stored securely, ensuring user data protection. This move underlines Coinbase’s commitment to enhancing user convenience and security, facilitating easier and safer transactions.
Read Also: Coinbase Bags FinCEN Award Following Crime Prevention Efforts
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