Upbit Exchange Announces Listing for PEPE and BRETT, Prices Surge

South Korean-based crypto exchange Upbit has extended support for the trending memecoins PEPE and BRETT. This announcement comes amid a global crypto market rally that began earlier today. Consequently, the price of the two tokens has surged dramatically partly because of the new development.

The new listing marks a significant milestone in the lifecycle of the memecoins as it introduces them to a broader audience who seek to diversify their portfolios.

Upbit Adds New Trading Pairs for PEPE and BRETT

In an announcement on its official website, Upbit noted that the the launch of these memecoins is a step toward expanding the variety of assets that traders on the platform can choose from. Moreover, the exchange informed that the transaction time for both assets will start at 19:30 on August 20, while deposit and withdrawal will commence Within 2 hours from the time of posting the notice.

Pepe Coin, a digital asset running on the Ethereum network, and BRETT, a digital asset built on the Base Chain, are positioned to take advantage of their distinct market appeal to draw in investors. To attract users, the trading platform has also announced that withdrawal costs for these assets would be removed for the first 24 hours after deposits and withdrawals begin.

Additionally, to stabilize the market, the cryptocurrency exchange will impose trading limitations. Buy orders will be prohibited for the first five minutes after launch, and selling prices cannot drop below 10% of the closing price of the day before.

What is more, limits will be placed on market and reservation orders around one hour after trading starts. These steps will guard against market manipulation and guarantee honest user trading.

Importantly, Upbit stressed how crucial it is for transactions to follow the recommended networks. For efficient processing of deposits and withdrawals, BRETT transactions will be handled on the Base network, and Pepe Coin transactions on the Ethereum network.

PEPE and BRETT Price Response Amid Listing

The listing of BRETT and PEPE on Upbit was met with a remarkably good response from the market. At the time of writing, the price of Pepe Coin surged by 8.36% to $0.000007915.

However, BRETT saw a 21.34% increase in value to $0.09173 not long after the trade support announcement was made. The increasing interest and confidence among traders over the potential of these meme tokens is reflected in this price trend.