BinanceUS announces the listing of the PEPE meme coin

BinanceUS, the U.S. subsidiary of the global cryptocurrency exchange Binance, has announced that it will list PEPE, a meme coin inspired by the Pepe the Frog meme, on its platform. PEPE, currently the third-largest meme coin by market capitalization, is already available on Binance’s global exchange but has not been listed on the U.S. platform due to regulatory uncertainties and ongoing legal issues.

However, following the political changes brought about by the November 6 election, particularly after the re-election of Republican President Donald Trump, regulatory pressures on cryptocurrency exchanges in the U.S. have lessened. This shift in policy has led to increased listings of meme coins on exchanges like BinanceUS and Coinbase. For example, Coinbase has recently added several meme coins, including Giga Chad, Turbo, Dogwifhat, and Floki, following the election results.

Meme coins like PEPE often experience significant price surges when they are listed on major exchanges, and the announcement of PEPE’s listing on BinanceUS was no exception, with the token’s price rising by 10%. However, it remains unclear whether the price increase was primarily driven by the BinanceUS listing or if it was part of a broader upward trend in the cryptocurrency market, which saw a 2.6% overall growth, reaching a total market capitalization of $3.7 trillion. The meme coin sector also experienced a boost, with its total value climbing to $133 billion, almost matching the market cap of Tether ($134 billion).