Krutika Adani
BitMEX, one of the top crypto derivatives exchanges has created a memecoin index to track the movement of the sub-sector within crypto markets.
The BitMEX exchange consists of the top 10 memecoins by market cap and is expected to be rebalanced periodically.
Alongside the index, BitMEX has also launched a USDT-denoted perpetual swap contract with a 25x leverage.
The index would make investing easier across a range of top memecoins, helping investors diversify risk.
At their peak in 2024, memecoins gained 13x returns from the start of the year, with notable gainers Pepe, Bonk, and Dogwifhat.