BitMEX Launches MEMEMEXTUSDT Swap Contract Featuring Shiba Inu and Top Meme Coins

full version at en.coinotag

BitMEX has introduced the MEMEMEXTUSDT Basket Index Perpetual Swap Contract, an innovative financial instrument for meme coins.
This contract allows traders to gain exposure to various meme coins through one simplified contract.
“This could be a game-changer for traders who have been hesitant to engage with individual meme coins due to inherent market risks,” said BitMEX CEO, Stephen Lutz.

BitMEX launches a new tool for traders to access and hedge popular meme coins through a single, leveraged contract.

Introduction of MEMEMEXTUSDT: A New Way to Trade Meme Coins

BitMEX, a Seychelles-based derivatives exchange, has introduced a groundbreaking financial instrument known as the MEMEMEXTUSDT Basket Index Perpetual Swap Contract. Billed as the “S&P500 for crypto meme coins,” this new contract aggregates several prominent meme coins into one index, enabling traders to diversify their investment risks.

Details and Mechanics of MEMEMEXTUSDT

The MEMEMEXTUSDT Basket Index Perpetual Swap Contract features a host of popular meme coins including Dogecoin (DOGE), Shiba Inu (SHIB), and newer entrants like Pepe (PEPE) and Floki Inu (FLOKI). Each contract, margined in USDT, offers up to 25x leverage. The terms include 0.0001 MEMEMEXT value per contract and a standard lot size of 1000. The contract comes with a maker fee of -0.015% and a taker fee of 0.075%, making it a compelling option for traders looking for liquidity and leverage in the meme coin sector.

Strategic Advantages and Market Opportunities

This new contract is particularly advantageous for traders who have been wary of direct investments in meme coins due to their high volatility and liquidity concerns. By offering a basket of meme coins, BitMEX provides a safer investment avenue while encouraging participation in this niche market. BitMEX CEO Stephen Lutz emphasized, “We’ve built this to give traders a secure yet dynamic tool for investing in meme coins without the need to swap their primary assets for highly volatile ones.”

Conclusion

The launch of the MEMEMEXTUSDT Basket Index Perpetual Swap Contract signifies a promising development for meme coin traders. By consolidating multiple meme coins into a single contract, BitMEX offers a unique solution that balances risk and reward. As the cryptocurrency market evolves, such innovative financial instruments could play a key role in enhancing market participation and liquidity.