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Coinbase postpones PepeCoin (PEPE) futures launch, cites technical issues

By:
on Apr 18, 2024
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  • The exchange has delayed the much-anticipated Pepecoin futures launch.
  • Coinbased cited technical problems as the motive for the halt.
  • PEPE price maintained bearishness, down over 25% in the past week.

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A leading crypto firm, Coinbase International,  has attracted the attention of market players as it halted the release of the highly-awaited PepeCoin perpetual futures.

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The exchange cited technical problems as the reason behind the setback. Coinbase excited the PepeCoin community on 11 April after announcing plans to launch PEPE perpetual futures.

PEPE enthusiasts believed the initiative would be vital for the platform’s growth. The exchange was to launch the PepeCoin futures on 18 April before the sudden delay.

The PEPE perpetual futures were for traders and investors to enjoy enhanced flexibility when interacting with digital assets.

Individuals could use these contracts to bet on price actions without owning the underlying asset or without the expiry date limitations.

Thus, Coinbase’s initial announcement catalyzed increased optimism among PEPE holders, triggering a 4% price surge for the altcoin. Also, the sored trading activity highlighted revitalized interest in PepeCoin.

PEPE’s current price action

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The memecoin changed hands at $0.000005111 at press time, after a 3.51% rebound. It dropped over 25% within the past seven days.

PEPE 7D Chart on Coinmarketcap

The altcoin has followed broad market tendencies lately. Its current upside stance comes as Bitcoin (BTC) recovered over 5.55% ahead of its highly-awaited halving. 

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