Crypto exchange BitMEX has launched the MEMEMEXTUSDT Basket Index Perpetual Swap Contract, offering exposure to the top 10 memecoins by market cap. This new index, paired against Tether’s USDT, aims to simplify trading by consolidating multiple memecoins into one product.
The MEMEMEXTUSDT index will be rebalanced monthly and is constructed as a weighted average price of key memecoins. BitMEX CEO Stephan Lutz noted the launch addresses growing user demand for easier access to the memecoin market.
A standout feature is the index’s ability to improve liquidity, making trades easier and more favorable. The contract charges a maker fee of -0.015% and a taker fee of 0.075%. This new product is strategically significant for BitMEX, as it aims to capitalize on the memecoin trend and attract more traders.
