Binance.US has announced that it will begin trading Pepe, the third-largest meme coin by market cap, on its platform. Although the token is already available on Binance’s global exchange, its American subsidiary previously refrained from listing certain digital assets due to regulatory uncertainty and litigation.
However, since Republican Donald Trump’s victory in the November 6 presidential elections, there has been a decline in policy constraints and crypto crackdowns. This has led to Binance.US and Coinbase listing several meme coins for US investors, including FLOKI, following Trump’s reelection.
Meme coins have often seen price increases after being listed on major centralized exchanges such as Binance and Coinbase. This was also true for PEPE, which saw a 10% jump in value after the Binance.US announcement.
It is unclear if the news directly caused the spike, or if meme coin prices rose in line with the overall growth of the digital asset market, which increased by 2.6% to reach a total market cap of $3.7 trillion. Within this market, the meme sector also saw an uptrend, reaching a total value of $133 billion, just slightly behind Tether’s market cap of $134 billion.
