South Korea’s leading cryptocurrency exchange, Upbit, has announced the addition of USDT trading pairs for two popular memecoins: Brett (BRETT) and Pepe (PEPE).
Moreover, the addition of the memecoin pair signifies the growing popularity of memecoins within the South Korean cryptocurrency market and reflects a broader trend of increasing mainstream acceptance of these digital assets.
Brett and Pepe Communities Responds
BRETT and PEPE, both known for their humorous origins and online community engagement, have captured the attention of the cryptocurrency space. “Their inclusion on Upbit, a platform renowned for its robust security measures and extensive user base, is a testament to their rising prominence within the crypto landscape,” an X user expressed.
The addition of USDT trading pairs for these memecoins provides greater accessibility and flexibility for traders, allowing them to trade BRETT and PEPE against the stablecoin USDT. the immediate addition will boost trading volume and further enhance the liquidity of these assets.
Notably, Upbit Korea in terms of trading volume and customer base, has over 180 crypto coins/tokens listed and over 300 trading pairs readily available. Additionally, Upbit’s ecosystem comprises of Upbit Exchange, NFT Marketplace/Drops platform, and its Staking services.
Binance Futures to Launch the BRETTUSDT Perpetual Contract
Binance Futures, a prominent derivatives exchange, has announced the launch of the BRETTUSDT Perpetual Contract, offering up to 50x leverage. The pair’s addition opens up new opportunities for traders to engage in leveraged trading of BRETT, potentially amplifying both profits and losses.
Furthermore, the acceptance of these assets by established platforms like Upbit and Binance Futures signals a potential shift towards greater mainstream adoption of memecoins.
Meanwhile, Binance has announced the conversion of fourteen tokens, effective September 2nd, 2024, at 8:00 UTC+8. The affected tokens include BTG, BTCST, BTS, DNT, GRS, HEGIC, MOB, XMR, MTH, MULTI, NAV, SOLO, SPARTA, XYM, and TRIBE.
The exchange will automatically convert these tokens into USDC at a fixed rate. This measure aims to simplify the user experience and streamline the exchange’s operations.
The decision to delist these tokens is likely based on factors such as low trading volume, project inactivity, regulatory concerns, or a lack of alignment with Binance’s overall strategy. The exchange regularly reviews its asset listings to ensure they meet certain quality and performance standards.
