BitMEX has introduced a new meme coin index called MEMEMEXTUSDT, making meme coins a more attractive investment option. This index consists of a “basket” of 10 meme coins, allowing users to invest in multiple top meme coins at once instead of individually. Trading for this asset, margined in USDT with up to 25x leverage, has already started.
This development has significant implications for the future of meme coin investments. MEMEMEXTUSDT, dubbed the S&P 500 of crypto meme coins by BitMEX, offers a convenient way to gain exposure to the top meme coins in the market. Similar to the S&P 500 index for leading US companies, this index perp allows investors to diversify their risks in the volatile crypto market.
The MEMEMEXTUSDT index comprises the top 10 performing meme coins by market capitalization, with monthly rebalancing to adjust to market fluctuations. Each contract size is set at 0.0001 MEMEMEXT, with a minimum trade amount of 0.1 MEMEMEXT. BitMEX has also announced a giveaway where investors can win up to 10,000 USDT with the meme coin basket index.
This move has sparked discussions about the potential arrival of Meme Basket ETFs in the future, as highlighted by 99Bitcoins. The introduction of the BitMEX Basket Index is seen as a step towards legitimizing meme coins and boosting their value in the market.
In addition to MEMEMEXTUSDT, projects like WienerAI and Shiba Shootout are gaining attention for their unique offerings in the meme coin space. WienerAI combines dog-themed memes with AI-driven trading bot technology, providing users with advanced trading facilities at zero fees. On the other hand, Shiba Shootout offers a Wild West-themed adventure with various earning opportunities for investors.
Overall, these developments indicate a growing interest in meme coins as a viable investment option, with potential for further growth in the market. To learn more about these projects, visit their official websites and explore the exciting opportunities they offer for crypto investors.
