Bappebti: Memecoin PEPE Masuk 5 Besar Transaksi Kripto di Indonesia Sepanjang September 2024
Release: 2024/10/22 17:24 Reading: 454
Memecoin PEPE: A Rising Star in Indonesia's Crypto Market
According to a recent report by the Commodity Futures Trading Supervisory Agency (Bappebti), the memecoin PEPE has secured a spot among the top five most-traded crypto assets in Indonesia in September 2024. PEPE, a meme coin previously known for its speculative nature, has now established a strong presence in the mainstream Indonesian crypto market.
Bappebti reported that the total crypto asset transaction value in Indonesia reached Rp33.67 trillion in September 2024. Despite a 31.17% decrease compared to August 2024's Rp48.92 trillion, PEPE continues to attract interest among local traders, reflecting the evolving trends in Indonesia's dynamic crypto investment scene.
PEPE ranked 4th as the most-traded crypto asset in Indonesia throughout September, surpassing even SOL in transaction value. Tether (USDT), Ethereum (ETH), and Bitcoin (BTC) held the top three positions, respectively.
"The most-traded crypto assets based on transaction value in spot trading throughout September 2024 were Tether (USDT), Ethereum (ETH), Bitcoin (BTC), Pepecoin (PEPE), and Solana (SOL)," Bappebti stated in an official release.
Although Bappebti did not disclose the total transaction value of the green frog-themed meme coin, this ranking highlights how PEPE has found its place among other major crypto assets. PEPE's success indicates a significant interest in memecoins, particularly amidst heightened market volatility.
PEPE's Potential in the Indonesian Crypto Market
Memecoin PEPE, initially regarded as a joke or satire, has now become a focus for investors due to its significant growth potential. Its market value is projected to reach $25 billion, suggesting that investors view PEPE as an asset that, while speculative, has the potential for high returns in the short term. Amidst Indonesia's expanding crypto ecosystem, PEPE appears to be a target for traders seeking to capitalize on market volatility.
The rapid growth of PEPE in Indonesia may also be attributed to the increasing participation of crypto traders. According to Bappebti, the number of active customers engaging in crypto asset transactions reached 504.3 thousand in September 2024. This indicates that the crypto asset market in Indonesia continues to grow, even amidst monthly declines in transaction value.
PEPE's presence in the top five crypto assets in Indonesia also reflects a shift in perception towards this asset class. Previously, memecoins were generally perceived as lacking fundamental value. However, in recent months, PEPE has captured the attention of global and local investors, both for short-term investments and as part of portfolio diversification.
Regulatory Support for Indonesia's Crypto Ecosystem
Alongside the increase in crypto asset transactions in Indonesia, Bappebti has taken strategic steps to strengthen the existing crypto ecosystem. One of these measures is the issuance of Bappebti Regulation (Perba) Number 9 of 2024. Perba regulates various aspects related to crypto asset trading, including adding customer types and requirements for Prospective Physical Crypto Asset Traders (CPFAK).
In a statement, Bappebti Head Kasan emphasized that the issuance of Perba aims to establish a crypto ecosystem that is ethical, modern, and adaptable.
"The issuance of Perba is one of Bappebti's efforts to create an ethical, modern, and adaptable crypto asset ecosystem. On the other hand, Bappebti remains consistent in prioritizing public protection by providing convenience, ease, and legal certainty in accessing crypto assets as one of the investment options," Kasan said in a recent official press release.
With the implementation of stricter and clearer regulations, the crypto market in Indonesia is expected to become more stable and appealing to domestic and international investors. The enhanced regulatory framework also plays a crucial role in protecting investors from potential risks, especially those associated with memecoins, which often exhibit high volatility.
PEPE's Future Prospects in Indonesia
With PEPE's entry into the top five most-traded crypto assets in Indonesia, its future prospects appear promising, at least for now.
However, investors should be aware of the risks associated with memecoins like PEPE, which tend to be more volatile compared to crypto assets with stronger fundamentals like Bitcoin or Ethereum. Nonetheless, PEPE currently ranks third in the memecoin sector globally according to CoinMarketCap.
The global market capitalization for memecoins has reached $58.85 billion in the past 30 days, up from $41.87 billion. PEPE's market value stands at $4.33 billion as of Tuesday, October 22, 2024.
The trend indicates a shift in investor preference towards more speculative assets. Indonesian investors appear to be increasingly risk-tolerant, particularly after witnessing the potential for substantial returns offered by memecoins such as PEPE.
With stricter regulations and government support for the development of the crypto ecosystem in Indonesia, PEPE and other crypto assets are likely to continue their growth. This also opens opportunities for other memecoins to compete in an increasingly competitive market.
PEPE and Indonesia's Crypto Asset Adoption
PEPE's popularity in Indonesia cannot be divorced from the broader context of crypto asset adoption and usage in the country. With Indonesia now ranked third globally in crypto asset adoption, behind Nigeria and India, this phenomenon depicts the public's growing interest in various digital assets, including memecoins like PEPE.
According to a study by Chainalysis, Indonesia's rise in crypto asset adoption reflects the country's increasing openness and active participation in investing in different forms of cryptocurrencies. PEPE's popularity as a prominent memecoin in the market suggests that Indonesian investors are not only drawn to established crypto assets like Bitcoin or Ethereum but also to more speculative tokens that have the potential for high short-term gains.
Furthermore, a study sponsored by VISA revealed that the use of stablecoins in Indonesia is becoming diverse, extending beyond crypto trading to serving as an alternative for more efficient banking services. This indicates that people are increasingly seeking ways to utilize cryptocurrencies in their daily lives. PEPE, although a memecoin, can be viewed as part of this broader ecosystem where innovation and practical applications of crypto assets are on the rise.
Data from Triple A indicates that Indonesia ranks 12th worldwide in crypto ownership, with 13.9% of the population owning crypto assets. The rise in the number of crypto owners certainly contributes to the popularity of PEPE, as more investors may be drawn to venture into the memecoin market.
Additionally, Indonesia's interest in Real World Assets (RWA) cryptocurrencies, ranking second globally according to Coingecko, shows that Indonesians are increasingly aware and interested in the innovations offered by blockchain technology. This creates opportunities for PEPE and other memecoins to attract more investors seeking to explore potential gains in this rapidly growing market.
Considering all these factors, PEPE's popularity in Indonesia not only reflects the fascination with memecoins but is also part of a broader trend of crypto asset adoption and usage in Indonesian society.
PEPE's journey in Indonesia's crypto market may still have a long way to go, but its entry into the top five crypto assets in September 2024 is a testament to the fact that memecoins have found their niche in the crypto investment world, particularly in Indonesia.
Recent news
More>- President Donald (PRESDON) Will Explode Over 15,000% Before Exchange Listings, While Shiba Inu and Dogecoin Lag 11-24
- Dogecoin Price Prediction for Today, November 23 – DOGE Technical Analysis 11-24
- Dogecoin Price Prediction for Today, November 23 – DOGE Technical Analysis 11-24
- Dogecoin (DOGE) Surges 19% as Hash Rate Hits Record High 11-24
- Solana Hits New ATH, As Pepe Surges 30% Amid Bull Market, Crypto Traders Eye New Meme Coin Going Viral After Video Release 11-24
- Dogecoin (DOGE) Bullish Streak is Awakening Shiba Inu (SHIB) Bulls: What’s Next? 11-24
- Top Meme Coins for December 2024: 5 Picks to Buy Before They Take Off! 11-23
- XRP Price Prediction: XRP Pumps 67% In A Week As Gary Gensler Plans SEC Exit, While Whales Swoop On Pepe Unchained Presale 11-23
- What’s Next for Crypto After Bitcoin Take $100k Price Level? Catzilla Coin Among 3 Altcoins Poised for Big Moves 11-23
Selected Topics
More>>-
- pepecoin Price Analysis
- This topic provides articles related to PepeCoin price, covering key PepeCoin insights and analysis
-
- pepe:meme star
- This topic provides articles related to the most promising meme, PEPECOIN, a project with the potential to become a mainstream digital currency. It has the advantages of decentralization, reliability, ease of use, fast speed, low cost and scalability, and is expected to be more widely used in the future
-
- pepecoin price prediction
- We’ve gathered facts about pepecoin’s success story and provided a pepecoin price prediction
Selected Articles
More>>- 1 Avalanche and Aptos rival raises over $600k in 2 weeks
- 2 Crypto Prices Today: Market Continues Rally With BTC, Pepe Coin, SEI Rising
- 3 Major Analyst Crypto Tony Bullish on These Meme Coins, But One Stands Out
- 4 MTAUR Ready to Crush DOGE and PEPE: 100x Price Growth Incoming?
- 5 Memecoins Surge in 2024, Popcat Leads with 7,621% YTD Gain, Outshining Top Crypto Tokens
- 6 PEPE Meme Coin Smashes ATH – See How Much an $83 Investment in Pepe Coin Last Year is Worth Now
- 7 Top 4 Altcoins At 70% Discounts – Last Chance!
- 8 Dogecoin Creator Proposes DOGE to NBA Legend Scottie Pippen
- 9 Top Analyst Who Predicted Dogecoin (DOGE) Last 170x Rally Forecasts New Parabolic Rise, Here’s His Price Target
- 10 New Solana Memecoin Trump Loves Elon to Rally 15,000% Before Exchange Listing, SHIB and Bonk Crash
ABOUT US
We are building the most influential，trusted information platform for aglobal community engaged in thd transformation of the financial system andthe emerging crypto economy.PEPE is an integrated platform for media,events,data & indices for the next generation fo investing and the future of money.
Get in touch with the PEPE team at admin@pepecoinbuy.com