The news that Coinbase International Exchange, an overseas institutional branch of the American cryptocurrency exchange, is set to launch a perpetual futures market for the well-known meme cryptocurrency PEPE next week caused its value to spike. The exchange announced via a blog post that PEPE perpetual futures will be available on Coinbase International Exchange and Coinbase Advanced, with trading kicking off on or after 9:30 a.m. UTC on April 18. This development has excited traders, who speculate that it may lead to a spot listing for the world’s fourth-largest meme coin, which currently has a market value of $3 billion.
Following the announcement, PEPE’s value surged by close to 10%, though it later relinquished much of that increase. At the time of reporting, the cryptocurrency had settled at an approximate 3% rise over the previous day.
