OpenSea Pro Supports PEPE Memecoin, Expanding Memecoin Ecosystem

OpenSea Pro Supports PEPE

OpenSea Pro, an NFT aggregation marketplace, announced on the 10th that it has started accepting payments using the crypto asset (virtual currency) Pepe Memecoin (PEPE).

NFTs are dead? Wait until frogs learn how to collect NFTs with $PEPECheck it out on OpenSea Pro! pic.twitter.com/8eSwZOOYCZ

— OpenSea Pro (@openseapro) May 9, 2023

OpenSea Pro is a dedicated platform for traders launched by the NFT marketplace OpenSea in April 2023. This is a renamed version of the NFT aggregation platform Gem, which was acquired by OpenSea in April 2010. It provides high-performance tools for efficient trading by linking data with more than 170 marketplaces.

OpenSea’s underlying platform supports various chains such as Ethereum, Polygon, Clayton, Solana, Arbitrum, Optimism, Avalanche, and BNB. Major payment methods include cryptocurrencies such as Ethereum (ETH/WETH), SOL, AVAX, USDC, BNB, and DAI.

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What is PEPE

Pepe Memecoin (PEPE) is a kind of “meme coin” that combines “meme” culture and virtual currency. The name seems to be taken from the popular American cartoon character “Pepe the Frog”, but the developers deny any direct connection to the meme.

According to PEPE Memecoin’s official website, PEPE aims to be “the most memetic memecoin”, but clarifies that it has no intrinsic value.

“PEPE has no intrinsic value or expectation of financial return. There is no official team or roadmap, this coin is completely useless and is to be used for entertainment purposes only.” I have a statement.

PEPE has increased by more than 21000% in just 3 days since its launch on April 12, 2023. With a current market capitalization of over ¥100 billion ($800 million), it ranks 57th in the cryptocurrency market.

Source: dextools

The PEPE Memecoin ecosystem continues to grow day by day, and the number of token holders has exceeded 100,000 addresses. Over 53,000 people have joined the official Telegram group and over 250,000 followers on Twitter.

Ethereum network fees, or so-called “gas prices,” have also skyrocketed as PEPE Memecoin’s increased trading volume on decentralized exchanges (DEXs). In the first week of May, the average Ethereum gas price exceeded 100 gwei, the highest since May 2022. Due to this, the staking reward rate of Ethereum (ETH) increased, reaching a post-merge high of 8.6%.

connection:Ethereum Staking Reward Rate Rise, May Be Due to Meme Coin Boom Trading