PEPE is the latest memecoin to hit the market with full force. The cryptocurrency is up over 300% in the past seven days, but its increase is tremendously higher since the time it was launched barely two weeks ago.
Following listings on a couple of major exchanges, the community is now speculating whether Binance will be the next to enable trading for PEPE on its platform.
For those of you who may have, for whatever reasons, missed it – PEPE is the newest memecoin to hit the market, and it did so in a spectacular fashion.
The cryptocurrency managed to acquire a market cap of close to $500 million, having launched barely two weeks ago. This, in itself, shook the community. Reports started circling that people had turned minuscule double-digit investments into hundreds of thousands, if not millions, of dollars.
Initially traded only on decentralized exchanges, centralized counterparties quickly caught wind of the trend and began listing PEPE on their platform. Just yesterday, OKX became the latest to do so.
At the time of this writing, PEPE is trading on OKX, MEXC, Gate.io, Huobi, Bitget, Poloniex, and others. This has had many people wonder whether or not Binance is next in line.
Yesterday, the largest cryptocurrency exchange – Binance – hosted an AMA session with its CEO – Changpeng Zhao. A more complete summary can be found below:
While there were many interesting questions, one thing clearly stood out, and it was asked on a few occasions – will Binance list PEPE?
CZ didn’t answer the question straight away, perhaps understanding that if he did, it would immediately cause the market to react. This is usually referred to as the “Binance effect.” It’s when Binance lists a coin, and it immediately skyrockets because of the increased exposure.
That said, he explained that everything that Binance does is dictated by the interest of its users. He outlined that if PEPE continues to trend and sees increased demand, the exchange could list it. He also explained that he’s not personally involved in the listing process.