BitMEX has launched MEMEMEXTUSDT, a Basket Index perpetual swap contract, on its platform. This new product gives traders exposure to the top 10 meme coins by market cap, including Dogecoin, Shiba Inu, and Pepe Coin.
This contract is margined in USDT and allows leverage up to 25x. The MEMEMEX Basket Index, also known as .BMEMEMEXT, includes meme coins like Dogecoin (20%), Shiba Inu (20%), and Pepe Coin (20%). Monthly reviews adjust the index to reflect the top 10 meme coins.
Features like no need to hold actual meme coins and significant leverage set this product apart. This allows traders to speculate on meme coins’ overall performance, diversifying their risk similar to the S&P 500 in traditional finance.
The MEMEMEXTUSDT contract simplifies access to the meme coin market, likely attracting more traders. This move by BitMEX highlights the growing popularity and market significance of meme coins.
