• Coinbase has announced support for PEPE perpetual futures
• This announcement caused the price of the PEPE meme coin to surge by nearly 9% in 24 hours
• Coinbase Advanced will also offer the PEPE-PERP futures market for advanced traders
Cryptocurrency exchange Coinbase has introduced perpetual futures trading for the popular meme coin Pepe Coin (PEPE). The price of PEPE surged in response to the announcement.
Coinbase Announcement Sparks Price Rally
Coinbase announced the launch of PEPE perpetual futures contracts on its platform. The 1000PEPE-PERP futures market went live at 9:30 AM UTC. Advanced traders can also access the new futures through Coinbase Advanced.
The PEPE price rallied after the Coinbase announcement, jumping nearly 9% in 24 hours to over $0.00007 according to CoinMarketCap. The meme coin has increased almost 40% over the past week amid its uptrend.
Importance for Coinbase
The addition of PEPE futures furthers Coinbase’s expansion into diverse financial products. As a leading global exchange, Coinbase aims to meet varying demands across the digital asset sector.
The new perpetual futures contracts provide another option for traders on the platform. Coinbase continues to be at the forefront of exchange offerings to satisfy different needs.
Conclusion
The meme coin Pepe saw its price surge after being added to Coinbase’s perpetual futures lineup. The rally reflects the coin’s popularity and the exchange’s ability to drive interest. As Coinbase diversifies its product mix, more momentum could be in store for Pepe Coin.
