South Korean cryptocurrency exchange Upbit has announced the listing of two popular meme coins: Brett (BRETT) and Pepe (PEPE). The announcement has caused a surge in the prices of both tokens, reflecting the growing interest and influence of meme coins in the broader cryptocurrency market.
Following the listing, PEPE saw a price increase of over 10%, trading at $0.000008019. Its market cap rose by 10.07%, reaching $3.37 billion at the time of writing. BRETT experienced an even more significant jump, with its price surging more than 24% to $0.09273. Brett’s market cap also saw a sharp rise, increasing by 22.08% to $918.97 million.
Upbit Announces Special Guidelines for Launch & Trading
The inclusion of these tokens by Upbit is a sign of the growing demand which is driven mostly by community interest and viral internet trends for alternative digital assets.
Upbit has put special trading limitations in place. The site announced that when trading support starts, traders would not be able to place buy orders for five minutes. Furthermore, sales orders that are priced at less than 10% of the closing price of the previous day will be prohibited for five minutes. In addition, market and reserved orders are blocked for an hour following trade support.
The official Upbit website also made note of the fact that BRETT and PEPE withdrawal fees will be waived for the first 24 hours after deposits and withdrawals begin. But following this window, regular rates will be charged.
Furthermore, only the guided networks are supported for deposits and withdrawals. The Base network handles BRETT transactions, while the Ethereum network handles Pepe Coin transactions. Users are advised by Upbit to make sure they follow the right network protocols to prevent issues and delays while their transactions are processed.
Upbit Advices to Use Personal Wallets
The exchange also reminded users that deposits made through exchanges not listed among the approved virtual asset operators eligible for deposits and withdrawals may require additional review, potentially leading to delays. Using personal wallet addresses that have successfully undergone “ownership verification” is crucial, according to Upbit, to guarantee seamless transactions.
Upbit’s decision coincides with the growing acceptance of meme coins, which have seen notable gains in recent months for tokens like BRETT and PEPE. The spike in interest in these tokens is indicative of the shifting nature of the cryptocurrency market, where assets driven by the community can attract significant interest and capital.
Traders and investors are taking advantage of Upbit’s most recent listings as meme coins gain traction, demonstrating the growing significance of these assets in the quickly changing digital asset market.