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Bitfinex Opens Doors for Pepe

source-logo  u.today 22 May 2023 18:25, UTC

Bitfinex, a prominent digital asset trading platform that offers a variety of advanced trading tools and services, has officially announced its intention to list Pepe (PEPE) token, which is a tribute to the famed internet meme, Pepe the Frog.

Created in April 2023, the meme coin quickly gained popularity due to its unique features: a no-tax policy, a burn mechanism to maintain scarcity and a redistributive system.

"Memecoins are rapidly growing in popularity. We are excited to introduce PEPE tokens to the Bitfinex ecosystem,” said Henry Child, Head of Tokens at Bitfinex.

This development signifies a major step in PEPE's march toward mainstream adoption.

Deposits for PEPE will be open on Bitfinex from May 22 at approximately 10 a.m. UTC, with trading commencing two days later.

The coin can be traded against the U.S. dollar and Tether (USDT) tokens. However, Bitfinex has made it clear that US residents are not allowed to hold, own or operate an account on its platform.

As reported by U.Today, Kraken, another renowned cryptocurrency exchange, has also added PEPE to its lineup.

The listing of PEPE on Bitfinex and Kraken follows a trend of other notable exchanges, including Binance, OKX, Bitget, and KuCoin, offering access to the popular memecoin.

Binance currently holds the largest share of PEPE's trading volume at just over 30%.

The entrance of tokens such as PEPE further highlights the growing interest and investment in memecoins.