BitMEX Debuts New Meme Coin Index – Catalyst for a Crypto Comeback?
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BitMEX just dropped a bombshell on the crypto market – they’ve launched a brand-new meme coin index. With meme coins taking a beating recently, could this curveball from a top exchange be the shot in the arm that the market needs? BitMEX Launches MEMEMEXTUSDT – Will It Prompt Market Rebound? BitMEX, a major player in the crypto world, just introduced MEMEMEXTUSDT. It’s a meme coin index – picture the S&P500, but for tokens like Dogecoin, Shiba Inu, and Pepe. This new index bundles popular tokens like these together into a single tradable asset. It’s a perpetual swap contract, meaning investors can gain exposure to meme coins without juggling multiple positions. Plus, it’s USDT-margined, simplifying things for traders. BitMEX offers up to 25x leverage, which could magnify gains (or losses) for risk-tolerant investors. Leverage works like this: It allows traders to borrow funds to increase their trading position beyond what they could with their own money. So, with 25x leverage, a trader could control a position worth $25,000 with just $1,000. Naturally, this is an appealing prospect to meme coin lovers. Since going live yesterday, the MEMEMEXTUSDT price has dropped from $100 to $81. This price drop reflects the bearish conditions in the market right now. Crypto Expert ClayBro Highlights WienerAI as a Potential Market Winner ClayBro, a popular crypto expert, recently dropped his analysis of the BitMEX index on 99Bitcoins’ YouTube channel. With over 700,000 subscribers, 99Bitcoins is a go-to for the latest crypto news and insights. And ClayBro’s video has already garnered hundreds of views. He’s not just hyped about the index itself – zooming out, he’s looking at how it could shake up the entire meme coin space. Specifically, he’s spotlighting a project called WienerAI (WAI). WienerAI’s not just another dog-themed meme coin. Instead, it’s a fully-fledged crypto…
Filed under: News - @ July 6, 2024 12:18 am