BitMEX, a popular cryptocurrency exchange, has recently introduced a new index focused on the booming market of meme coins. The index, known as MEMEMEXTUSDT, is designed to offer traders exposure to the top 10 meme coins in the market. This move by BitMEX is a strategic one, considering the increasing popularity and demand for meme coins among investors and traders.
MEMEMEXTUSDT is structured as a perpetual swap contract, allowing traders to speculate on the price movements of the top 10 meme coins without actually owning them. This index provides a convenient way for traders to gain exposure to a diversified basket of meme coins, mitigating the risk associated with investing in individual meme coins. By offering a perpetual swap contract, BitMEX enables traders to take both long and short positions on the meme coin market, further enhancing their trading opportunities.
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