Nexo, a leading crypto exchange and lending platform, has announced the addition of the meme-inspired Pepe (PEPE) token to its offerings.
Nexo, a crypto exchange and lending platform, has added the meme-inspired Pepe (PEPE) to its offerings. Inspired by the popular internet meme character, Pepe the Frog, PEPE has been dubbed as “the most memeable memecoin in existence.”
.@pepecoineth’s $PEPE is now available on Nexo! Let’s explore. ⬇️
Dubbed as “the most memeable memecoin in existence,” the project draws inspiration from Pepe the Frog, an iconic internet meme character.
Built on the Ethereum blockchain, $PEPE operates as an ERC-20 token with a… pic.twitter.com/1WcPqGctzb
— Nexo (@Nexo) June 3, 2024
Investment Opportunities and Features
Nexo provides multiple features for users interested in Pepe. As indicated on the official website, users can purchase Pepe quickly and securely using credit/debit cards or instant bank transfers, starting with just a $1 investment.
Nexo also offers up to 0.5% cashback on Pepe purchases and guarantees no hidden fees, claiming competitive market prices compared to the top 10 crypto exchanges globally. The platform supports instant SEPA (Single Euro Payments Area) and FPS (Faster Payments Service) transfers for Pepe transactions.
During this press, Pepe’s current price on Nexo is $0.00001, showing a 6.79% decline over the last 24 hours. Despite this, Pepe has a market capitalization of around $5.94 billion and is ranked 23rd by market cap. The 24-hour trading volume for Pepe exceeds. $798 million. With its all-time high price at $0.00002, PEPE is down 17.64% from its peak.
Utilizing Pepe on Nexo
Nexo offers a variety of options for users to leverage their Pepe holdings. On Nexo, users can seamlessly exchange any supported asset for PEPE with no fees and at a fixed execution price. The platform also facilitates borrowing funds starting at 2.9% APR without the need to sell one’s PEPE holdings, through their Instant Crypto Credit Lines feature.
Additionally, users can spend the value of their Pepe while earning up to 2% back in crypto rewards. The Nexo Booster functionality allows customers to leverage their Pepe holdings to acquire up to three times more of other desired cryptos. Furthermore, Nexo enables free and instantaneous PEPE transfers between users with Nexo accounts.
Market Position of Pepe
Despite a recent global market correction, Pepe has defied expectations and secured a spot among the top 20 cryptocurrencies by market capitalization, per recent reports by The Crypto Basic.
According to data from CoinMarketCap, PEPE has seen a remarkable 825% increase in value over the past year. Introduced in April 2023, the frog-inspired token swiftly gained traction, reaching a $1 billion market cap within a few weeks of its launch.
Currently, PEPE maintains a strong presence in the meme coin market, boasting a valuation of $5.8 billion. This growth trajectory has positioned PEPE as one of the most successful and noteworthy meme coin debuts in 2023, outperforming several rivals in the same niche.