BitMEX's New Memecoin Basket Index

Krutika Adani

BitMEX Launches New Memecoin Index

BitMEX, one of the top crypto derivatives exchanges has created a memecoin index to track the movement of the sub-sector within crypto markets.

Index Contents

The BitMEX exchange consists of the top 10 memecoins by market cap and is expected to be rebalanced periodically.

Perpetual Contracts

Alongside the index, BitMEX has also launched a USDT-denoted perpetual swap contract with a 25x leverage.

Benefits

The index would make investing easier across a range of top memecoins, helping investors diversify risk.

Memecoin Gains in 2024

At their peak in 2024, memecoins gained 13x returns from the start of the year, with notable gainers Pepe, Bonk, and Dogwifhat.